Our in-depth Q1 market report is out! Make sure to reach out with your mailing address if you want to be included in our next one. We send them out every 3 months and include stats, charts, and graphs of all East Shore, Nevada sales.
Currently, buyers from all around the country continue to dominate our market seeking seclusion from congested cities and our Nevada tax haven. All-time low inventory, attractive mortgage rates, remote workers with the desire to move away from the nearby cities and have a retreat in the mountains have continued to increase values. The increase in interest rates has started a slight slow down in buyer activity but with the current inventory being so low, it still remains to be a strong seller’s market. Here’s how we wrapped up the first quarter of 2022:
EAST SHORE | LAKE TAHOE | NEVADA | Q1
MEDIAN SALES PRICE
GLENBROOK/UPPAWAY
NO SALES
LOWER KINGSBURY
$1,350,000
MIDDLE KINGSBURY
$2,000,000
UPPER KINGSBURY
$1,249,000
LAKERIDGE
NO SALES
PINEWILD
$2,949,000
ROUNDHILL
$1,226,000
SNUG HARBOR, ZEPHYR COVE, MARLA BAY
PITTMAN TERRACE, LAKESIDE, ELK POINT
$2,398,000
SKYLAND
$1,840,000
SUMMIT & TAHOE VILLAGE
$500,000
ZEPHYR HEIGHTS/ZEPHYR KNOLLS
$1,512,500
COMBINED EAST SHORE CONDOS (32)
$677,500
COMBINED EAST SHORE SINGLE FAMILY HOMES (28)
$1,562,000
We had 1 new condo and 1 new home come onto the market this week. We currently have 14 active condos ranging from $339,900 to $1,300,000; the median condo price is $849,000. We currently have 31 active homes on the East Shore ranging $1,199,000 to $35,000,000 with the median price of $2,995,000. You can see how much these numbers are up significantly from last year!
Year to Date Local East Shore Lake Tahoe, Nevada Stats:
- Total Sales YTD: Condos: 37 | Homes: 32
- The Median Sales Price: Condos: $710,000 | Homes: $1,750,000
- Number of sales over $1 million: Condos: 9 = 24% | Homes: 28 = 88%
- The highest priced sale: Condos: $5,665,500 (Tahoe Beach Club) | Homes: $32,000,000
- Median Price Per Square Foot: Condos: $591.59 | Homes: $628.13
- Median Days on the Market: Condos: 85 | Homes: 103
If you have any questions regarding our in-depth market update or would like an evaluation of your property’s value I would love to hear from you! I’ve put together some information below that I think you’ll find useful. If you have anything you want to share with our community please let us know so that it can be included in future newsletters.
Thank you!
Craig Zager & The Zager Group