With the lake of the sky right outside your door, there’s no substitute for life on the water at Lake Tahoe.
As of December 31, 2019, the East Shore saw only 6 lakefront sales, compared to 15 in 2018. The median price was $4,550,000, down 20% from the prior year, with a total dollar volume of $28,745,000.
South Lake Tahoe also saw 6 lakefront sales in 2019, compared to 4 in 2018, an increase of 50%. The median price of a lakefront home in this area was $5,200,000, an increase of 417%, with a total dollar volume of $25,225,000.
On the north and west shores, there were 13 sales in 2019, compared to 28 in 2018, a 54% decrease in unit volume. The median price of a lakefront home sold was $4,300,000, down 4% from the year prior, with a total dollar volume of $106,520,000.
Incline Village had 3 lakefront home sales in 2019, compared to 11 in 2018, a decrease of 73%. The median price of lakefront property sold in this area was $15,000,000, an increase of 191%, with a total dollar volume of $53,250,000.
The primary reason that lakefront sales were down around most of the lake in 2019 is a lack of inventory. The year started with less than 10 lakefronts on the market, which was atypically low.
Although we have some incredible Lake Tahoe lakefront homes for sale, right now it's just a matter of matching specific buyer wants and needs to what's available in the market.
Interestingly, in the last 1.5+ years, there have been 8 lakefront sales over $20 million, 4 on the California side and 4 in Nevada.
Reach out to any of our professional REALTORS to learn more.