In Q1 2025, the Lake Tahoe real estate market saw a 6% increase in median home price for single-family homes compared to the same period last year, with a slight decrease in units sold in Q1 of 2025 compared to 2024. Condos however showed a decrease in both units sold and median price for Q1 of 2025 of around 5%. The exception to this was in Truckee, where Condo units sales increase 13% from this time last year.
Overall, inventory levels in the Lake Tahoe and Truckee area are low from winter demand but still remain at a reasonable level for spring buyers. For example, listings in the area are up almost 70% from where they were at this time last year, and we are seeing more come on the market each week. This surge in inventory suggests we are heading into a buyer’s market, with more choices available for potential buyers.
Nationally the real estate market has slowed. Existing-home sales rose 4.2% month-over-month to a seasonally adjusted rate of 4.26 million in February 2025, but year-over-year sales fell 1.2%. While home prices are still high, the rate of increase has slowed down. Mortgage rates have fluctuated, with some reports indicating a recent uptick, but concerns about the economy and industry changes persisted.
Overall, the Lake Tahoe real estate market is poised for a good spring and summer with more inventory and more demand. It will be a good season if you are interested in buying a home in Lake Tahoe.
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