June 2020 — Tahoe Luxury Property by Alex West at The Big Blue Lake. Buy and Sell Tahoe Homes.

Update Late-June 2020:

Earlier this spring a $19.5m Sunnyside property was promoted off-market and sold almost immediately for $18m. Sale not yet recorded in MLS.

A Rubicon property priced at $9m with beautiful beach and pier entered escrow in 10 days – the lakefront average is 141 days. Note one of the other 2 lakefront sales this year had just 26 days on market.

A sweet spot on Flick Point for $8m is in escrow – was initially offered for $11m. A Dollar Point lakefront which nearly rotted on the vine last year is now in escrow, list price $4.5m.

In a nutshell, last month we had a ton of buyers standing at the gates waiting to be let into the marketplace. Some crashed the gate but now with our Counties in Phase III for conoravirus, the market is very, very busy with buyer activity at all levels.

The problem right now is a dearth of lakefront properties available for sale. So these buyers who understand that it’s easier to buy than rent are speeding up the timeline they may have previously set for a potential Tahoe purchase. Time is extremely valuable to these people and so they are buying Tahoe lakefronts now. I see this strong demand continuing for months.

Quick Stats

7 active lakefront listings from $2.4m to $6.25m.
Half of these were offered last summer – ouch.
7 lakefronts in escrow now, $2m – $9m, average list price $4.9m.
Usually 6-10 lakefronts enter escrow between Mid-May and Mid-June – this is happening now.
2019 sales were down 50% from 2018. 2018 volume was nearly double 2017. See chart below.

All three lakefront homes which sold this year were not offered last year. This means half the current inventory is stale and has been picked over. We need more lakefronts to sell!

I send videos to buyers who can’t make it up. Here is a sample: The Lakeside Drive house for $3.5m has a great feel but no garage – casual video walk through link. It is now in escrow.

Here are the properties I have listed and am marketing right now. You’ll see that I use high-end video and imagery for each. It all starts with the presentation.