As suspected, the lakefront market did not demonstrate much health this season. Inventory climbed through much of the spring and early summer and then remained fairly stable throughout the balance of the summer months at about 60 single-family lakefront homes from Rubicon on the West Shore of California, to Brockway on the North Shore. Sixty Tahoe lakefront homes remain active on the market today – equating to roughly 65 months of supply. Asking prices of current inventory range from $1.395mm to $19.95mm.
Six Tahoe lakefront homes for sale in the same area have publicly closed this calendar year so far. The high sale to date was ~$6.3mm. Three Tahoe lakefront homes are currently under contract. No pending sales have asking prices above $5mm. With the highest YTD sale at $6.3mm and all pending sales below $5mm, there is not much demand for higher price-point lakefront homes. Lakefront buyers are gravitating to mid and lower price range properties as their comfort zone. As we trail out of the traditional lakefront selling season, there are some tremendous values for those seeking a lakefront property in Lake Tahoe. -Bill Dietz, Principal Broker