Lake Tahoe Home Sales June 9, 2020

Lake Tahoe Real Estate Market Update for 6/9/20

For those that have been waiting in anticipation of coming to Lake Tahoe, South Lake Tahoe is open for business as June 12th! For more information click this link, The casinos had there re-opening on June 4th. Beaches are now open and the town is bustling once again.

There is more news regarding the lawsuit between the city of South Lake Tahoe and the Sustainable Community Alliance regarding the Measure T. This is the last year for Vacation Home Rentals(VHR) to operate within the city limits. A court decision was rendered on June 1st and you may read more at this link, In the meantime an injunction will remain in place that allows the permits to continue operation. There is another court date for oral arguments on June 12th. It is anticipated that this will go to appeals with the state Appellate court. More news to come next week.

The local real estate market has been on fire! Here are the numbers from the past week beginning on June 1st, 2020. This data is extrapolated from the South Tahoe Association of Realtors MLS (Multiple Listing Service) and the Northern Nevada Regional MLS.

California South Shore

  • 26 New Listings
  • 35 Pending Sales
  • 15 Closings
  • 1 Listing Cancellation and 1 Withdrawn Listing

Nevada East Shore

  • 7 New Listings
  • 15 New Pending Sales
  • 5 Closings

This past weekend saw an incredible number of buyers competing vigorously for homes. Of the 35 new pending sales, 14 were just listed within the last 10 days. Both the Nevada and California real estate markets at Lake Tahoe are experiencing a surge of buyers from the Bay Area. This seems to be a new migration created by the COVID pandemic. People are seeking refuge from the city and swarming the more rural areas. It is a sellers market delight at this time!

For more information, you may contact me anytime, cell 530-314-9008. If you are curious about the value of your home, you may email me at [email protected].