Lake Tahoe Market Statistics for 2024
Overall, the Lake Tahoe real estate market in 2024 did well, with a 9% increase in units sold for both condos and single family homes compared to 2023. The median price of both single family homes and condos around the Lake rose 1% in 2024 to $989,000 for single family homes and $755,000 for condos. Truckee had slightly higher increases in sales of single family homes with 10% to 16% increases in units sold and 5% increases in median price. Condos in Truckee had large decreases in units sold and a minimal increase in median price.
Properties stayed on the market longer, which gave buyers more choices, eliminated the urgency of the last few years and gave them a better bargaining position. 2024 was no longer a sellers market. There were many price drops of list prices and often sellers accepted prices lower than asking price. Yet we still had slight increase in median prices. It appears we we are experiencing a market correction from the unprecedented market of the Covid years, however our market continues to hold the pace for moderate gains over 2024. It is more a buyers market and sellers that recognize that are having success with thoughtful pricing and home preparations.
Incline Village and Crystal Bay
Incline Village saw a 15% increase in single family homes sold between 2023 and 2024 with a median price of $2.25M for 2024, a 2% increase from 2023. Condo sales rose as well with 117 condos sold in 2024, a 7% increase over 2023. The median price of condos in Incline Village and Crystal bay also rose to $915,000 a 2% increase over 2023. To see full statistics click here.
South Lake Tahoe, Ca
In South Lake Tahoe the number of single family homes sold increased by 13% in 2024 with 465 units, with condos exceeding that increase with 64 units sold, a 33% increase from 2023. The median price of single family homes fell 2% from 700,000 in 2023 to $689,000 in 2024 and the median price of condos rose 5% to $612,500. To see full statistics click here.
East Shore Nv.
The East Shore of Lake Tahoe had the same number of single family homes and condos sold in 2024 as in 2023. The median price however dropped 8% in 2024 from $1.425M to $1.55 in 2023. The median price of condos on the East Shore rose 6% to $670,000 in 2024. To see full statistics click here.
North Shore Lake Tahoe
In the North Shore of Lake Tahoe the sale of shingle family homes rose 5% in 2024 but the median price fell 4% from $1.152M to $1.2M in 2024. Condos sales also rose 9% in 2024 with a median price increase of 1% to $661,500. To see full statistics click here.
West Shore
On the West Shore of Lake Tahoe single family home sales fell 3% in 2024 compared to 2023 with a slight increase in median price to $1.15, a 5% increase. Condo sales fell 27% in 2024 but still saw an increase in median price up 9% to $1.79M in 2024. To see full statistics click here.
Truckee
Truckee single family home sales rose 10% in 2024 compared to 2023 with 576 units. The median price of those homes rose 5% to $1.25M in 2024. Condo sales in Truckee decreased 21% in 2024 with a median price of $744,500, the same median price as 2023. To see full statistics click here.
Tahoe Donner
Tahoe Donner single family home sales in 2024 rose 16% with a median price increase of 5% to $1.175M. Condo sales in Tahoe Donner fell 32% in 2024 with a median price increase of 3% to $575,000. To see full statistics click here.
In Conclusion
It appears we are experiencing a market correction from the frenzied market during the pandemic, however, our market continues to hold the pace for moderate gains over 2024. It is more a buyers market and sellers that recognize that are having success with thoughtful pricing and home preparations. It is a good time to buy, there are plenty of opportunities for buyers in a variety of different areas for those who are looking.
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