The Lake Tahoe luxury market experienced significant growth in 2024, highlighted by record-breaking sales and strong demand. A landmark transaction set a new benchmark for the Tahoe Basin, reflecting the appeal of the region’s high-end properties. While some areas saw substantial increases in activity, others faced slight declines, all underscored by a persistent inventory shortage driving prices upward. Despite these challenges, property values remain stable, supported by sustained buyer interest.
For more information on Lake Tahoe properties or questions on the real estate market, contact Amie Quirarte with The Q Group.
Courtesy photo: Elder Group Tahoe | Chase International
Historic downtown Truckee is one of Tahoe’s most livable and loved communities. With an adorable downtown, great shopping and delicious dining, you’ll love living here. Lake Tahoe is 20 minutes away or, just minutes from downtown, you’ll find Donner Lake with its public docks and beautiful mountain setting. Not only is Truckee just 30 minutes from Reno on I-80, but it’s also a hub of outdoor activities all year long with access to world-class ski resorts, hiking trails, mountain biking, mountain climbing and watersports just minutes from the heart of downtown. With luxurious enclaves in the Martis Valley, local resident communities like Glenshire Devonshire and Sierra Meadows, condominiums sprinkled throughout the area and homes along the Truckee River, Truckee has properties for everyone. Picture yourself walking to Truckee Thursdays, buying local produce at one of the Farmers Markets, rocking out at Music in the Park, or biking the Legacy Trail.
What could be more perfect than a town on the shores of Lake Tahoe? The majority of condos and homes here are either on the North Shore or the West Shore of Lake Tahoe separated by the “Y” intersection of Highways 28 and 89 in Tahoe City making it the hub many communities in both directions. Both areas have fantastic benefits – the West Shore tends to have a slower pace and miles of trails and the North Shore tends to be sunnier and has spectacular beaches. The areas around Tahoe City have offerings like classic old Tahoe condos and homes, new mountain modern single-family homes and luxury enclaves with unparalleled amenities and private beaches. So, whether you’re looking for a private beach and pier, a pool for the kiddos, a classic Tahoe cabin or a small condominium to use as a basecamp, Tahoe City has you covered.
Tahoe Swiss Village is a family-friendly community built as “an Alpine community in the Swiss tradition” and is located on the West Shore of Lake Tahoe. The 80-property community offers a variety of property types and includes access to their private lakefront beach area. The developer’s Swiss vision included streets named after famous mountain passes in the Swiss Alps like Simplon, Furka and Grimsel. Both Homewood and Sunnyside are nearby for dining and services. In the summer, be sure to catch a sunset from Sunnyside’s gorgeous outdoor seating or, better yet, from Tahoe Swiss Village’s private beach.
For more information on West Shore properties, contact Amie Quirarte.
In the first three quarters of 2024, all micro-regions saw an increase in the number of single-family homes sold year over year. However, while the slight uptick of homes sold is promising, the overall sales volume sits at around half the number of homes sold in the 2020 peak, and well below the average number of homes sold in the past decade. Lower sales volume is partially driven by overall inventory being down from the peak sales volume years.
In the Tahoe Sierra MLS, supply is down 33% from 2019. Median price remains robust, with Truckee reaching an all-time high ($1.3M) and both Incline Village & Crystal Bay, and the Tahoe Sierra MLS matching their 2022 record highs ($2.5M and $1.25M respectively). Lakefront activity has been notable, with sales volume increasing 67% year over year. Median price of lakefront sales stands at $8.2M. The high lakefront sale was 859 Lakeshore in Incline Village, NV for $47.5M.
Now, as we head into the fourth quarter, where the season change typically slows down Lake Tahoe real estate, sellers become more motivated and buyers who have waited may find their opportunity to pounce. As we transition into 2025, the uncertainty surrounding the election will be behind us, and the anticipated decline in interest rates is expected to boost sales activity, driving prices even higher. If you are a buyer and have a property in your sights, make a move now for the best deal.
The Q Take
The year-over-year rise in home sales is positive, but overall volume remains well below peak levels, largely due to reduced inventory. Strong median prices in Truckee, Incline Village, and lakefront areas show market resilience. As we approach the slower fourth quarter, motivated sellers could offer good opportunities. With potential rate cuts and post-election clarity expected in 2025, buyers should act now to secure the best deals before prices rise further.
Home to the Tahoe institution, Gar Woods, Carnelian Bay has both single-family residences and one condominium complex called Carnelian Woods. Carnelian Bay’s history stretches back to 1889 when it was listed as one of Lake Tahoe’s permanent settlements and was finally accessible by both land and water. Over the years it has been a popular place to race boats, became home to the Sierra Boat Company and, in 1988, the lakefront Gar Woods was opened with its unbeatable views of Lake Tahoe.
With the Sierra Boat Company located right in Carnelian Bay, boating is obviously easily accessible for residents. Patton Beach is a great spot for your 4-legged friend to get some lake time. Or maybe you want to launch your kayak or paddleboard for a day of paddling? Watermans Coffee house offers breakfast and lunch items and coffee if you’re hungry after your time on the water. For some family fun, Carnelian Bay is home to Magic Carpet Golf with 66 mini golf holes.
Carnelian Bay is about 6 miles east of Tahoe City on Highway 28 and 5 miles west of the California/Nevada state line.
For more information on real estate in Carnelian Bay, contact Amie Quirarte.
Located on the North Shore in between Carnelian Bay and Kings Beach, Tahoe Vista is the home to some of Lake Tahoe’s most picturesque and family-friendly public beaches including Moon Dunes Beach and Sandy Beach. The area is surrounded by hiking and biking trails and is in a great location to enjoy all of North Lake Tahoe’s ski resorts in the winter time. One of the best outdoor amenities in this area is the Tahoe Regional Park with winter and summer trails, a dog park, a disc golf course, athletic fields and picnic areas. Tahoe Vista, including Tahoe Estates and Tahoe Marina Estates, offers many quiet forested single family and condo properties to get away from it all as well as some lakeside properties.
For more information on real estate in the Tahoe Vista neighborhood, contact Amie Quirarte.
Located on the North Shore in between Carnelian Bay and Kings Beach, Tahoe Vista is the home to some of Lake Tahoe’s most picturesque and family-friendly public beaches including Moon Dunes Beach and Sandy Beach. The area is surrounded by hiking and biking trails and is in a great location to enjoy all of North Lake Tahoe’s ski resorts in the winter time. One of the best outdoor amenities in this area is the Tahoe Regional Park with winter and summer trails, a dog park, a disc golf course, athletic fields and picnic areas. Tahoe Vista, including Tahoe Estates and Tahoe Marina Estates, offers many quiet forested single family and condo properties to get away from it all as well as some lakeside properties.
For more information on real estate in the Tahoe Vista neighborhood, contact Amie Quirarte.
Record breaking sale! When my clients decided to list their property, we chose a price knowing we were pushing the parameters of every sale within the complex by a substantial margin. Within a week, we had two offers, leaving my clients, the sellers, with multiple options. We are so excited for our sellers who have achieved this huge milestone! Side note, I also sold them this unit in 2017, and they were able to double their money.
A half mile up from Lake Forest Beach (Bristlecone), a quick walk to (the best) Sugar Pine Cakery and to the locally famous summer camp, Camp Skylandia, and 1.5 miles from the Tahoe Cross-Country Ski Center – access to recreation year-round is unparalleled.
For more information on real estate in the Lake Forest Glen area, contact Amie Quirarte.
Dollar Point is one of the most sought-after neighborhoods on the North Shore of Lake Tahoe, with desirable amenities and private access to the lake through the Dollar Point Association. Located three miles from Tahoe City, neighbors Tahoe XC, and offers easy access to Palisades Tahoe, Northstar and Homewood.
For more information on real estate in the Dollar Point neighborhood, contact Amie Quirarte.
