The Lakefront Edit

The 2023 lakefront season is tapering. Overall, the market's performance was absolutely solid but unspectacular. 

Here's a recap on what the market did respond to...
 

Consistent in lakefront as with the Lake Tahoe Area broadly, the Lake Tahoe lakefront buyers are predominantly making a discretionary purchase, so financing is a convenience rather than a method of leveraging affordability. As a result, high interests rates did not stymy the lakefront market. However, even cash-capable consumers showed discretion in purchases. The sales that occurred represented well-priced, exceptional product that offered immediate utility. Specifically, the homes priced between 6M - 16.5M performed strongly (sold quickly at or above asking). To review, the following were all of the North Shore Lake Tahoe lakefront properties that sold between May - October this year. It's important to note that only one property sold for over $16.5M. It was in Incline Village.

 

North Shore, CA:

Separately, it's interesting to review what the market did not accept either for ambitious pricing or some level of functional or physical obsolescence. These are the properties that are remain on the market:

• 3970 North Lake Blvd
• 7708 North Lake Blvd
• 3250 Edgewater Drive
• 4280 North Lake Blvd
• 6350 North Lake Blvd
• 6790 North Lake Blvd
• 3675 Idlewild Way

The rest of the homes still currently on the market are located very far down the West Shore and/or are priced over $16M. All except one have been on the market for close to 100 days.