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The Most Significant N. Lake Tahoe, CA Luxury Real Estate Sales 2022 was another amazing year for Lake Tahoe luxury real estate sales with 53% of all sales priced above $1M, the second highest luxury home sales ratio the Tahoe real estate market has ever seen. From breathtaking Lakefront mansions to ultra luxurious Martis Camp […] The post Top 10 Lake Tahoe Luxury Sales of 2022 appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury...
2022 was another amazing year for Lake Tahoe luxury real estate sales with 53% of all sales priced above $1M, the second highest luxury home sales ratio the Tahoe real estate market has ever seen. From breathtaking Lakefront mansions to ultra luxurious Martis Camp Estates, there were some exciting sales in 2022. We anticipate another year of robust luxury home sales in 2022 and if you are searching for the perfect Tahoe vacation home, we are here to help. See below for the Top 10 Lake Tahoe Luxury Sales of 2022!
7+ Beds | 7+ Baths | 12,225 SF
6 Beds | 6.5 Baths | 7,652 SF
Built by renowned Tahoe luxury builder, Bruce Olson Construction, the rustic exterior of this magnificent lakefront estate was achieved by mixing cedar logs, poplar bark shingles, native split faced granite, and copper with a combination asphalt shingle and living roof. Breathtaking views of Lake Tahoe from its great room, kitchen and two bedrooms. A home theater in the lower level seats twenty four. Adjacent is a billiard room complete with wet bar and dual large screen TVs and shuffleboard game that is great for entertaining the adults while a built-in climbing wall and playroom occupies the kids. Exterior rear patio features pizza oven and BBQ. Gas-lit fire pit nestled by boulder outcrop on lawn faces the lake. This Tahoe lakefront estate has it all, including caretaker’s quarters. More Information
Listing Brokerage: Land To Living, Inc.
5 Bed | 5.5 Baths | 2,894 SF
Listing Brokerage: Mountain Luxury Properties
6 Beds | 7+ Baths | 6,680 SF
More Information
Listing Brokerage: Martis Camp Realty
7+ Beds | 7+ Baths | 7,800 SF
6 Beds | 7+ Baths | 8,674 SF
5 Beds | 5.5 Baths | 8,046 SF
6 Beds | 7+ baths | 6,018 SF
5 Beds | 4.5 Baths | 5,050 SF
6 Beds | 6.5 Baths | 5,006 SF
As the premier Tahoe Realtor, I’m here to help, provide insight, and help you achieve your real estate goals. Contact me today to discuss how I can be of assistance.
For Lake Tahoe real estate news, property listings, and events Sign up for our Newsletter.
The post Top 10 Lake Tahoe Luxury Sales of 2022 appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury Properties.
Despite Challenging Market Conditions, The Median Home Price in Lake Tahoe Was Up 5% In 2022 The North Lake Tahoe, CA real estate market started 2022 as an aggressive continuation of 2021 with above-average demand and limited housing inventory, resulting in a frothy real estate market with short marketing times and most homes selling with […] The post Lake Tahoe Real Estate Year End 2022 Market Report appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury...
The North Lake Tahoe, CA real estate market started 2022 as an aggressive continuation of 2021 with above-average demand and limited housing inventory, resulting in a frothy real estate market with short marketing times and most homes selling with multiple offers and above asking price. That all ended in the second half of 2022 as pandemic-era inflation led to the Fed aggressively raising interest rates, which caused mortgage interest rates to rise rapidly.
By mid-year, capitulation had set into equity markets, and with increased talks of an impending recession, fear, uncertainty, and doubt (FUD) filled the minds of consumers. The second half of 2022 was defined by a limited number of buyer participants, shackled inventory, and rising mortgage rates, resulting in the lowest number of single-family home sales in over a decade.
In 2022, 53% of all Lake Tahoe home sales were priced over $1M, the second highest luxury home sales ratio that the Tahoe real estate market has ever seen. The highest-priced sale of the year was a West Shore Tahoe lakefront estate which sold for $41,259,400, bolstering the average home price for 2022 as this sale was 24% above the $33M high sale of 2021. Martis Camp, Truckee’s premier gated golf course community, produced 32 home sales with an average price of $8.5M, up 19% over 2021. Although the volume of luxury home sales was off 18%, the luxury market segment helped propel Tahoe home prices to record levels.
“Despite a national cooling in residential real estate, we’re finding that the luxury real estate market is still in a league of its own. We’ve continued to see luxury sales volume growth in many top destination communities across the U.S. It’s just not the whiplash-inducing lightning-speed growth we saw throughout much of 2020 and 2021. High-net-worth buyers are not as reliant on financing, so they might be less deterred by rising rates, and we hear a lot from our buyers that they don’t want to wait for perfect market conditions, they are ready to enjoy the benefits of a second home now.” —Pacaso CEO Austin Allison
Since 2019 (pre-pandemic), the median home price is up an astounding 65%, and although the volume of transactions is off from the record stats of 2021, the market remains on solid footing. My analysis shows that the Tahoe real estate market is not falling apart. Instead, the velocity of the market has slowed significantly, but demand continues to outpace supply which has kept upward pressure on pricing as evidenced by the 5% increase in the median home price.
Most Lake Tahoe homeowners have significant equity and enjoy their home’s utility. If an owner has a loan, it is typically a smaller loan at a favorable interest rate. For these reasons, sellers are not motivated to sell and are happy to enjoy their vacation homes until market conditions improve. Convincing owners to part with their properties has become increasingly challenging over the last few years, which has helped stabilize the Tahoe market.
*North Lake Tahoe, CA and Truckee Single-Family Home sales including lakefronts. Data is taken from the Tahoe-Sierra Board of Realtors, MLS Areas 1-9.
The term absorption rate refers to a metric used in a specific real estate market to evaluate the rate at which available homes are sold during a given period of time. Here are the metrics and absorption rate for the North Lake Tahoe, CA and Truckee real estate market.
Currently, there are 68 pending homes in escrow with an average list price of $1.8M and a median price of $1.1, which shows minor softening from September to October. This could be related to the sever lack of inventory, seasonal market shifts, or it could be the start of a trend. We will have to see what happens in November for confirmation and further analysis.
Currently, there are 40 pending homes in escrow with an average list price of $1.76M and a median price of $1.1M. This shows minor softening from the year’s first half but is still on par with 2021 and above the stats of 2020.
With only 2.1 months of inventory (homes for sale), the advantage has shifted from market stabilization to a slight lean to the seller’s advantage. Although the number of active buyers in the market is down year over year, housing inventory is highly constrained, so home pricing remains relatively stable. In a more typical market, we would be in a strong seller’s market with 2.1 months of inventory. In the current market that is plagued by fear, uncertainty, and doubt, having less than 3 months of inventory has characteristics resembling a more stabilized market.
The best-priced homes are moving quickly, while other listings tend to linger on the market, often requiring price reductions and deeper negotiations to get a sale done. Buyers remain excited about newer homes, updated homes, and properties located within desirable communities. Inversely, older/dated homes with differed maintenance issues are taking longer to sell. The market is timid when purchasing homes that need significant improvements, even if priced well within the market segment.
The dramatic market conditions of the “COVID Years” have subsided. We have entered a new chapter where fewer buyers exist in the market, housing inventory is constrained, and home prices have stabilized. Although the Tahoe real estate market has slowed, it remains on sound footing, creating opportunities for buyers and sellers alike.
View All Tahoe Real Estate Market Reports
Year-End 2021 Real Estate Market Report
Year-End 2020 Real Estate Market Report
As the premier Tahoe Realtor, I’m here to help, provide insight, and help you achieve your real estate goals. Let’s schedule a Zoom meeting to chat and discuss how I can be of assistance.
For Lake Tahoe real estate news, property listings, and events Sign up for our Newsletter.
The post Lake Tahoe Real Estate Year End 2022 Market Report appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury Properties.
Truckee Commercial Office Building Congratulations to our client who just purchased this 6,235 SF mixed-use commercial business center in an amazing Truckee location close to Donner Lake and I-80. This commercial property features mountain architecture with an adaptable floor plan and common area facilities that can serve up to eight separately metered spaces of […] The post SOLD! 12315 Deerfield Dr. appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury...
Are you interested in Truckee Commercial real estate and residential homes for sale? Dave Westall is your Truckee real estate expert and is happy to answer any questions you have. Contact Dave at (530) 448 9882 or Dave@WestallRealEstate.com.
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Congratulations to our client who just sold 10075 Nicolas Dr. Unit D! This gorgeous, sun drenched end unit is centrally located in Truckee featuring a desirable floorplan. The living room is the perfect place to enjoy time with friends and family and features vaulted ceilings and a dual sided gas fireplace. Enjoy a meal […] The post SOLD! 10075 Nicolas Dr. Unit D appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury...
[See image gallery at www.westallrealestate.com]
10075 Nicolas Dr. #D is located in the Riverview Townhomes adjacent to Truckee Regional Park, the Legacy Trail and the Truckee River. Regional Park is a community hub offering Music in the Park every Wednesday throughout the summer, multiple playing fields, a large playground, a community garden, an ice skating rink in the winter and so much more. Walk or ride your bike to Drunken Monkey for the best sushi in town, enjoy pub food and delicious beers at Fifty Fifty Brewery, or authentic Thai Food at Thai Delicacy. Raleys One is just a few minutes away offering fresh organic groceries, a huge wine and beer selection and more. In the winter months, enjoy easy access to Northstar California, Palisades Tahoe for a day of skiing and riding. This is the ideal neighborhood to enjoy everything that Truckee has to offer.
Are you interested in Truckee real estate and homes for sale? Dave Westall is your Truckee real estate expert and is happy to answer any questions you have about purchasing or selling Lake Tahoe vacation homes.
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7081 Bear Ave. Description Congratulations to our clients who just sold their storybook cabin located on the fabled West Shore of Lake Tahoe. This property features 3 bedrooms, 2 bathrooms and large decks at the front and rear of the house. Relax with friends and family in the quaint living room with a cozy […] The post SOLD! 7081 Bear Ave. appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury...
[See image gallery at www.westallrealestate.com]
Are you interested in Lake Tahoe homes for sale ? Dave Westall is your Tahoma real estate expert and is happy to answer any questions you have about purchasing or selling Lake Tahoe vacation homes.
The post SOLD! 7081 Bear Ave. appeared first on Lake Tahoe Real Estate, Truckee Real Estate, Tahoe Luxury Properties.
1001 Commonwealth Dr. #218 Description Congratulations to our clients who just purchased this beautifully remodeled, 1 bedroom, 1 bath, townhome. This corner unit features a huge loft bedroom for a bonus space, office or overflow sleeping. Recent upgrades include new appliances, quartz countertops with waterfall edge, white oak hardwood floors, updated bathroom, barn […] The post SOLD! 1001 Commonwealth Dr. #218 appeared first on Lake Tahoe Real Estate, Truckee Real...
[See image gallery at www.westallrealestate.com]
Access everything that North Lake Tahoe has to offer from this amazing Kings Beach property located at 1001 Commonwealth Dr. The Casinos just over the State Line at Crystal Bay are just a quick drive away, providing a higher level of entertainment for adults. Enjoy easy access to the Tahoe National Forest for hiking and mountain bike trails. Northstar Ski Resort is located within close proximity offering world-class skiing in the winter months and golfing and mountain biking during the summer months. Kings Beach is an amazing year-round community offering easy access to the lake, delicious restaurants, shopping, hiking & biking and so much more.
Are you interested in Lake Tahoe homes for sale ? Beth Taylor & Dave Westall are your Kings Beach real estate experts and is happy to answer any questions you have about purchasing or selling Lake Tahoe vacation homes.
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