2024 Starts Off with a Bang
Lake Tahoe real estate starts the year off with a bang! Quarter One saw sales volume rebound from Q1 2023 lows. In all micro-regions, the number of single-family homes sold increased year over year, with growth rates ranging from 35% to 131%.
Inventory remains low, while the demand for homeownership in Tahoe remains high, despite high interest rates. Properties that are appropriately and strategically priced are moving quickly, and the buyer pool is anxiously awaiting the influx of listings we typically see each year when the snow begins to melt.
- Single-family homes sold increased 42% year over year.
- Median price decreased 16% year over year.
- Average Days on Market was 100 days, a 43% increase from 2023.
- 5 of 37 homes (14%) sold for over $2 million. 1 homes (2%) sold above $5 million.
- Single-family homes sold increased 131% year over year.
- Median price increased 45% year over year, reaching a record high.
- Average Days on Market was 140 days, up only one day over 2023.
- 19 of 30 homes (63%) sold for over $2 million. 4 homes (13%) sold above $5 million.
- Single-family homes sold increased 37% year over year.
- Median price increased 8% year over year, nearing the 2022 record high.
- Average Days on Market was 75 days, a 9% increase from 2023.
- 32 of 129 homes (25%) sold for over $2 million. 6 homes (5%) sold above $5 million.
For more information on the Lake Tahoe real estate market, contact Amie Quirarte.