Greetings, As we move into December, the housing cycle continues to spin. Here we will take a look at localized approach to sales data in North Lake Tahoe, West Shore, Olympic Valley/ Alpine Meadows, and Truckee. We will look at active, sold, and pending stats for these neighborhoods, and analyze the sales data for each location. All data has been pulled from the TSMLS.
November 2023 : Monthly Market Update
As we step into November, the town takes on a serene hush, a departure from its usual lively atmosphere. Tourism has taken a dip, and the absence of construction traffic paints a quieter picture. The lake, once warmed by the summer sun, now reflects the cooler shades of the changing seasons. The transition from Fall to Winter seems almost magical, occurring overnight.
In the midst of this seasonal shift, the appeal of the area stands strong, especially for Single Family Homes and Condos, thanks to their proximity to essential amenities. However, the town itself has undergone a bit of consolidation, with only one grocery store remaining post the closure of Save Mart. This has funneled a majority of the town’s traffic to Tahoe Safeway, now bustling with more customers than it can comfortably accommodate.
Taking a closer look at the real estate landscape, the average price per square foot for a single-family home holds steady at $850. Meanwhile, the average sale price rests at approximately $1.8 million, and, interestingly, a well-priced home is expected to find a new owner within a swift 39 days. As the winter chill settles in, the real estate market continues to provide warmth to those looking to make this picturesque town their home.
| Tahoe City/ North Lake | Single Family | Condos |
| Active | 24 | 18 |
| Sold | 13 | 3 |
| Pending | 8 | 4 |
Tahoe City/ North Lake Tahoe: Single Family Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 2187 | 39 | $1,916,923 | $897.76 | $1,798,423 | $844.20 |
| Min | 1116 | 4 | $750,000 | $339.67 | $525,000 | $237.77 |
| Max | 3750 | 117 | $8,000,000 | $3,919.65 | $7,750,000 | $3,797.16 |
| Med | 2041 | 30 | $1,289,000 | $657.89 | $1,200,000 | $622.17 |
Tahoe City/ North Lake Tahoe: Condo/Townhomes Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 1439 | 97 | $1,388,333 | $980 | $1,325,000 | $937.52 |
| Min | 1325 | 37 | $1,125,000 | $732 | $1,000,000 | $651.04 |
| Max | 1536 | 143 | $1,790,000 | $1,350 | $1,750,000 | $1,320.75 |
| Med | 1457 | 111 | $1,250,000 | $857 | $1,225,000 | $840.77 |
Nestled on the West Shore, a tranquil enclave boasting the highest concentration of full-time locals, offers a distinctive charm. As a resident situated in North Lake, my firsthand experiences may not encapsulate the daily rhythm of life on the West Shore, but its reputation as a serene haven for peaceful Sierra strolls is widely acknowledged.
When delving into the real estate scene, Condo data unfortunately remained elusive, lacking the substance necessary for a meaningful exploration. While West Shore holds its appeal, it carries a slightly lower demand compared to the vibrant North Lake region, with all statistics falling beneath the metrics witnessed on the northern counterpart. The allure of this quiet neighborhood, however, lies in its unique character, drawing those who appreciate the serene beauty of the Sierras and the charm of a close-knit community.
| West Shore | Single Family | Condos |
| Active | 26 | 0 |
| Sold | 7 | 0 |
| Pending | 8 | 1 |
West Shore: Single Family Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 1791 | 86 | $1,620,143 | $837.94 | $1,579,857 | $810.13 |
| Min | 757 | 16 | $498,000 | $657.86 | $520,000 | $623.56 |
| Max | 3027 | 159 | $3,359,000 | $1,109.68 | $3,359,000 | $1,109.68 |
| Med | 1732 | 69 | $1,195,000 | $735.58 | $1,080,000 | $721.15 |
With the arrival of Palisades Tahoe Opening Day in Olympic Valley, the mountain experienced a notable surge in visitors by month-end. However, compared to the previous year, we saw a decrease of 38 inches in snowfall. Local residents, attuned to the nuances of their environment, are forecasting a winter with lower snow levels this time around. The prevailing conditions, marked by warmer temperatures and increased moisture, provide ample grounds for such predictions. As the season unfolds, the community remains watchful, anticipating the unique character of this year’s winter landscape.
| Olympic Valley/ Alpine Meadows | Single Family | Condos |
| Active | 21 | 10 |
| Sold | 2 | 10 |
| Pending | 1 | 1 |
Olympic Valley / Alpine Meadow Single Family Sold Property Stats:
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 3344 | 162 | $2,647,000 | $790.79 | $2,475,000 | $738.23 |
Olympic Valley/ Alpine Meadows: Condo Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 979 | 32 | $843,590 | $832.82 | $830,900 | $823.78 |
| Min | 0 | 4 | $565,000 | $501.27 | $520,000 | $491.31 |
| Max | 1496 | 112 | $1,099,000 | $1,109.13 | $1,100,000 | $1,103.20 |
| Med | 1009 | 26 | $847,000 | $779.51 | $857,000 | $779.51 |
In Truckee, November swiftly passed by, marked by notable community activities. The ice rink at Truckee Regional Park welcomed eager skaters, providing a focal point for winter recreation. Road construction projects concluded, bringing relief to the town’s infrastructure. Despite the seasonal lull in downtown tourism traffic, locals embraced the opportunity to explore the “Jackass MTB Trail,” savoring the last moments before winter’s full embrace.
At Truckee High Altitude Fitness, a favored climbing gym, the atmosphere buzzed with energy. Local outdoor enthusiasts gathered to condition their legs for the impending ski season, while climbers diligently honed their skills, preparing for the challenges that winter climbing offers. As the town transitions into the colder months, the community remains active and engaged, making the most of the diverse recreational opportunities Truckee has to offer.
| Truckee | Single Family | Condos |
| Active | 39 | 7 |
| Sold | 9 | 3 |
| Pending | 9 | 0 |
Truckee: Single Family Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 1986 | 45 | $1,110,222 | $542.48 | $1,093,108 | $533.12 |
| Min | 1160 | 6 | $575,000 | $328.20 | $565,000 | $322.49 |
| Max | 3021 | 126 | $2,750,000 | $910.29 | $2,800,000 | $926.85 |
| Med | 1750 | 50 | $849,000 | $506.62 | $840,000 | $501.84 |
Truckee: Condo Sold Property Stats
| Sq Feet | DOM | LP | LP/Sq Feet | Sale Price | Sale Price/ Sq Ft | |
| Avg | 1714 | 20 | $1,406,000 | $802.63 | $1,371,667 | $783.72 |
Comparing Averages:
| Averages: | Sale Price | Sale Price/ Sq Ft |
| North Lake/TC | $1,798,423 | $844.20 |
| West Shore | $1,579,857 | $810.13 |
| Olympic Valley | $2,475,000 | $738.23 |
| Truckee | $1,093,108 | $533.12 |
If you’re contemplating investing in a real estate asset, having a solid grasp of the foundational values within the neighborhood is crucial. Understanding the dynamics of property values across the area is wise decision-making. Define your price point, carefully weigh the location’s accessibility to activities you’re passionate about, and, most importantly, ask yourself if you can envision living your best life in that home.
In this context, North Lake Tahoe takes the lead, ranking first with the highest price per square foot, emphasizing its sought-after real estate market. Meanwhile, Olympic Valley secures a notable position with the highest sale prices, making it a noteworthy contender in the real estate landscape. As you navigate these considerations, it’s essential to align your investment with your lifestyle and envision the fulfillment of your aspirations within the chosen property.
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