South Lake Tahoe Real Estate Market Report for October 2023
The South Lake Tahoe real estate market was soft in October 2023, with fewer homes sold and lower prices. In the city of South Lake Tahoe, there were 19 homes sold in October 2023, compared to 26 homes sold in October 2022. The average number of days on the market dropped from 100 days to 67 days, and the median sales price dropped from $699,000 to $600,000.
In the county area, there were 20 homes sold in October 2023, compared to 22 homes sold in October 2022. The average number of days on the market dropped from 105 days to 93 days, and the median sales price remained relatively unchanged at $492,400.
The softening of the South Lake Tahoe real estate market is likely due to a number of factors, including rising interest rates and inflation. However, the market is still relatively healthy, with homes selling within a few months of being listed and looking forward to the interest rate dropping a bit
If you are thinking of buying or selling a home in South Lake Tahoe, contact Dennis Lindsay at Berkshire Hathaway Home Services at (530) 318-2369 for more information.