Luxury home sales in South Lake Tahoe are on the rise, especially over the last six months. Of the 22 homes that sold for over $1,000,000 on the California side of South Lake Tahoe, 14 were sold over the last half year. The Nevada side is experiencing much of the same. There have been 55 homes sold for one million dollar and above in the last 12 months, almost double from the prior year when 30 homes above one million dollars sold.
The Highest Priced Homes Sold in South Lake Tahoe
Topping the list was “Tranquility” a unique retreat that was owned by Tommy Hilfiger CEO and co-founder Joel Horowitz. The original $100 million dollar price tag was lowered by over 50% and sold for $48 million. Second on the list was a lakefront estate which sold for $20,900,000. Both of these homes are located on the Nevada side.
“Windy Moon,” an estate on the west shore, sold this year for $5.300.000, which leads the list of California homes sold at the lake. Following just behind is a lake front home in the Stateline neighborhood of South Lake Tahoe, which sold for $4,500,000.
California Taxes Raised, Good News for Nevada
High end homes for sale in Lake Tahoe should continue to see a lot of interest, especially those on the Nevada side of the lake. There are a few reasons for this.
- California tax on higher income earners
- Lower property taxes
- No state income tax
Throughout Nevada, including Lake Tahoe, luxury home sales to Californians leaving the state have increased.
The Future of Luxury Home Sales
I feel we’ll see more sales in the luxury market in Lake Tahoe. There are some beautiful properties for sale and very few high end homes are built, causing a supply crunch that has created a lot of interest in purchasing. Many market experts feel the worst is behind us and that home values (and therefore, prices) will continue to rise.
37 South Point Place – This home has never been lived in! It is perched on a mountain top in the prestigious and historic Uppaway Estates area of Glenbrook, NV. The home offers tranquility, luxury and breathtaking views. I have compiled some detailed information on the home as well as a video tour.
462 Lakeview Drive – A private beach and pier are part of this home’s great qualities. Sitting right on the Nevada shore, this 6 bedroom home is in the gated Elk Point Country Club neighborhood. This lakefront home exemplifies the Lake Tahoe lifestyle-casual yet luxurious, modern yet within one of the most naturally beautiful settings in the world.
There are 20 Lakefront homes for sale on the Nevada side of South Lake Tahoe. After condos, you’ll find the price of houses range from just over $3M to $28.5M.
For More Information on Lake Tahoe Luxury Home Sales
Call me at 530-541-2465 or contact me via email to discuss what you’re looking for in a Lake Tahoe luxury home. Is it lakefront, lakeview, or a tucked away estate?