May 2024 Lake Tahoe Market Report
As we move into the second quarter of real estate market activity in North Lake Tahoe and Truckee, sales and inventory are beginning to track to normal levels. Inventory is increasing, while home values are holding steady.
We had a slow start during the first quarter, but by April sales began to outpace activity for the same period last year.
The Truckee median sale price is currently at $1.15 million, while Tahoe City has a median price of $1.3 million. Dollar volume is up 21% over last year, and sales are up 28%.
North Shore
In March, there were 18 new listings of single family residences, with 3 sales, and 19 condo listings with 6 sales. By April, available listings for single family residences had increased by 34, with 7 sales. During the same period, there were 23 new condos on the North Shore, with 4 sales. There are currently 36 single family homes available for sale on the North Shore of Lake Tahoe.
West Shore
In March, 11 active new listings of single family residences were available, with 8 sales, while there were only 8 condo listings and no sales. By April, inventory for available listings for single family residences had increased by 23, with 5 sales. Of the 4 new condos available, none have sold on the West Shore. There are currently 31 available homes for sale on the West Shore of Lake Tahoe.
Alpine Meadows/Squaw Valley
March had 22 new listings of single family residences, with 1 sale, and 12 condo listings with 3 sales. By April, available listings for single family residences had increased by 22, with 3 sales. During the same period, there were 18 new condos available in Alpine Meadows and Squaw Valley, with 3 sales. There are currently 27 homes for sale in Olympic Valley.
Northstar
March began with 6 new listings of single family residences, with 1 sale, and 9 condo listings with 3 sales. By April, available listings for single family residences had increased by 34, with 7 sales. During the same period, condo inventory grew by 10 units with 6 sales. There are currently 23 homes for sale in Northstar.
Truckee
Available homes for sale in March showed inventory grew by 62 listings with 20 sales. During the same period, there were 14 condo listings with 9 sales. April inventory growth held steady for single family residences at 62 new listings and 13 sales. Inventory for sale in Truckee is at a whopping 108 available homes for sale. Condo inventory in April showed 10 new units available with 1 sale.
Tahoe Donner
We began March with 13 additional homes for sale in Tahoe Donner, with 10 sales. Of the 5 condos available, only 2 sold. By April inventory had grown with 20 listings, but of the available homes for sale, 19 sold. Available condos for sale in April increased by 4 units with no sales. There are currently 48 homes available for sale in Tahoe Donner. This is a competitive market.
Contact me today for more details on the market activity at Lake Tahoe and Truckee. We are beginning the summer with a large and diverse assortment of homes for sale and we expect sales activity to stay robust.