HOW’S THE LAKEFRONT MARKET?
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.
We are seeing lakefront homes sell which had tried previously but were unsuccessful. I know of 4 now in escrow like this – 3 never hit the open market / MLS.
Did you hear about Tahoe’s ultra high end sales? $40,000,000 estate closes in a 7 day deal. $24,000,000 Tahoe City lakefront sells before hitting the market. $37,000,000 Incline Village estate gets multiple offers. The highest price in our entire market is the Chase International listing for $75,000,000, Crystal Pointe – I am a listing ambassador for this property. Highest-price ever for a split lakefront is on the market now – $6.2m.
Yet in the midst of this there are 2 lakefronts under $2m. 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. Go to this page for more.