First Quarter 2022 Lake Tahoe Market Report

We’ve had a great First Quarter 2022 for real estate sales in Lake Tahoe. Just in the last couple of months, we’ve had more than 46 sales, with all properties selling within the first few weeks on the market. Many of these sales were in Tahoe Donner, but also include Glenshire, Northstar and the North shore of Lake Tahoe.

Sales numbers for the entire Tahoe Sierra area show a slowing compared to last year. We began January 2022 with 74 active listings for single family homes. The same month showed 71 sales! In February, we began the month with 94 listings and had 61 closings. By March, inventory grew to 106 active listings, while 75 sold. In April, inventory grew again to 140 active listings with only 66 closings.

May saw the biggest increase in listing inventory, and we began the month with 237 listings, while 86 closed. Comparing sales year over year, the First Quarter of 2021 had 287 sales compared to 210 in the First Quarter of 2022. The pandemic drove the number of sales in the Lake Tahoe area to record numbers in 2021. The numbers for 2022 are more in line with the sales activity for the last 5 years.

This doesn’t mean that the demand has changed. We will always have a limited number of available homes for sale in the Lake Tahoe basin because new developments are virtually non-existent.

The 25% increase in the average home price, mixed with mortgage rates that jumped from 2.75% last winter to a staggering 5.27% currently, has reduced the buying frenzy. Well priced homes are still selling fairly quickly, and the entry level market remains highly competitive.

As we continue to see the growth in normal inventory levels, we expect sales to return to normal from the previous year's highs. With such a huge feeder market of potential buyers from the Bay Area, the demand for a retreat in Lake Tahoe is not going to change.

We have several new listings that range from a creekside sanctuary in Truckee, to a coveted lakefront parcel with a lakeside deck in Tahoe Vista, and a luxurious mountain chalet with easy access to the Sherwood chair at Alpine Meadows.

If you are thinking of buying a home in Lake Tahoe, it is important to work with a team of professionals who will ensure that your offer is the winning offer. Additionally, pricing your home to sell, and ensuring it has the greatest exposure are also key.

Contact us today for a free property analysis on your home. We’d love to show you why the Sharp Real Estate Team remain as the top realtors in Lake Tahoe and Truckee.