Early July 2018 Lakefront Market Recap

Early Summer 2018 Tahoe Lakefront Market Recap

We have seen historic sales at the uber high end. In the last 30 days estates at $40,000,000 and $24,000,000 sold before getting a chance to hit the open market. The larger sale saw a 7 day escrow – amazing. There were multiple offers on a $37,000,000 property in Incline Village. There are other high-end listings which will trade this year. Currently, the highest price is Chase International’s listing for which I am a Listing Ambassador: Crystal Pointe, $75,000,000. The highest-price ever for a split lakefront is on the market now – $6.2m.


How about 4.5 (!) quick case studies to show you the strength of the North + West Shore lakefront marketplace?

  1. 1590 N Lake Blvd: Bought in 2009 for $2.5m. Attempted to sell for years since but never higher than $2.75m. It had cute furnishings and decor, my colleagues and I even had a team building exercise and cleaned up the “lawn” one spring. The property was dialed. But alas it never sold. Fast forward to 5/13/18: the property receives multiple offers in days and is now happily in escrow. This is a Chase International listing.
  2. 4886 North Lake Blvd: Fairly recently-built North Shore home – very large but no pier – attempted to sell for years but no reward. Fast forward to May 2018 and a buyer approached and it just closed for $3.725m.
  3. 3740 North Lake Blvd: Purchased for $5.2m in 2015 then placed back on market. Property marketed all of 2017 with no luck. Fast forward to May 2018, a local buyer’s agent approached the listing agent and now the property is in escrow. Chase International listing.
  4. 3840 North Lake Blvd: Was on MLS for 854 days. Just as the bank was about to step in and start taking the property back a buyer came in to scoop it up. Just closed for $3.42m. Last MLS list price $3.85m. Chase International listing.

Case Study 4.5 – No address nor price included to respect the privacy of the parties involved: I haven’t yet confirmed this (hence the 1/2 ranking on my Case Study numbering!) but I noticed a change of ownership on  a property which I had been watching. This one had also been listed for an extended time. It was under construction and it never really got momentum in the market. 

Another property at $11,000,000 entered escrow after just a few weeks on market but alas the deal fell apart – reach out if you’d like more info. That property sold 3 years ago for $7.75m and no real improvements were made. It has one of the most impressive boathouses in the entire Basin – it’s basically a barn large enough for two very large boats plus there is an indoor entertaining area.

Quick Stats:

  • 14 active lakefront listings from $1.1m to $40,000,000
  • 6 lakefronts in escrow: 3 on MLS, 3 off MLS
  • Sold Volume up 28%
Yet in the midst of this there are 2 lakefronts under $2m. As mentioned, a West Shore lakefront for $11m just fell out of escrow. So it’s still the kind of market where anything can happen which makes it exciting!
The Tahoe Regional Planning Agency finally revealed the draft of its new Shoreline Plan. See more below.
This is a great year for the Tahoe lakefront market. Sales are on par with the level of the lake itself – Tahoe is .2 inches from the legal maximum.

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