Summer Lakefront Market Report | Lake Tahoe
As we move into mid-summer, it is exciting to see so many lakefront properties come onto the market in Lake Tahoe. New listings range in prices of $35 million for a 6 bedroom, 5 bath estate in Meeks Bay to a $7.5 million listing in the much sought-after Brockway Hot Springs.
From Incline Village, through Tahoe Vista, Carnelian Bay and up into Meeks Bay, there are beautiful lakefront homes for every price point. New lakefront listings on the West Shore currently range in prices between $34.5 million to $14 million.
Lakefront Market Report
When looking at lakefront sales over the first half of the year, we are seeing homes sell at 103% of asking price. This was a factor of a limited amount of inventory, which created a highly competitive market. However, unit sales in the first half of 2023 were lower than the same period last year.
Since many lakefront buyers use cash from stock market earnings, they can be unaffected by rising interest rates. It will be interesting to see how the influx of new lakefront listings affect overall pricing and sales volume as we move through the summer.
From January to June 2023, lakefront sales decreased 40% year over year. The median price also decreased 12%, but this may be a factor of the shared ownership sales of lakefronts that are priced much lower. There are also a few lakefront condos available for sale.
Recent Sales
8000 North Lake Boulevard in Sweetbriar Kings Beach sold for $415,000. This is an example of a shared ownership sale of a 3 bedroom and 3 ½ bath unit.
817 Lakeshore Boulevard in Incline Village sold for $15 million. This is a 5 bedroom, 3,442 square foot exquisite lakefront, which sold at the beginning of July 2023.
9620 Brockway Springs Drive sold for $4.1 million and listings in this neighborhood are rare because of the limited supply. This was a 4 bedroom and 4 bath home in a community with many amenities. You'll see below that there is another home for sale in Brockway.
893 Lakeshore Blvd, Incline Village sold for $22.8 and is a 5 bedroom and 4 bath lakefront residence.
Over the last 30 days, the median price of new lakefront listings is at $4.6 million. Sold listings had a median price of $4.1 million. Adding in the new listings to active listings and available lakefront listings have a median price of $5.8 million. There are currently 27 lakefront listings with days on market prior to selling at only 38 days.
New Listings
3216 Edgewater Drive, Dollar Hill
Located in the prestigious community of Dollar Point, this home is situated on the beautiful north shore of Lake Tahoe. There are only 39 lakefront residences in this area with panoramic lake views and many amenities. This property has 80 feet of lake frontage and a beautiful lakeside lawn. Listed at $14,500,000.
This stunning 4.29-acre property on the shores of Lake Tahoe has over 660 feet of shoreline, and an incredible pier and boat house. This heritage property is like an Old Tahoe Camp in a serene and private setting. Situated on the south end of Rubicon and adjacent to the Gold Coast local bars and casual dining are about 10 minutes away. The 3,848 sq. ft. main house, built in 1949, is all one level, comprising six bedrooms and 5 baths. Next to the house is a bunk room with bath and an additional bedroom suite. This property has a total of 10 bedrooms and 8 baths. Listed at $35,000,000.
6350 North Lake Boulevard, Tahoe Vista
Tahoe Quarterly has selected this home as the winner of the merit award for lakefront design. This distinctive home features an innovated design highlighted by a dramatic asymmetrical exterior with multiple textures and shapes. Inside, traffic from North Lake Boulevard was intentionally shielded from sight and sound, while windows lining the opposite wall bring in the breathtaking views of Lake Tahoe. Listed at $8,690,000.
4280 North Lake Boulevard, Carnelian Bay
A classic and timeless Tahoe lakefront home available for the first time ever on the open market. The property exudes the comforts of generations passed along with great potential for the future. 97 feet of frontage with a private pier and buoy access situated optimally on an ample-size lot to maximize morning sunrises and evening alpenglow. TRPA has verified over 4700 square feet of Class 6 coverage offering a tremendous template for future redevelopment. Listed at $6,995,000.
There are many more lakefront offerings this summer. Contact me today to view any of these properties or for more information about market activity around Lake Tahoe and Truckee.