Q1 2025 Lake Tahoe Market Wrap-Up

Total Listing Count Interpretation  

The total number of listings followed a familiar seasonal trajectory. Inventory remained relatively flat through the winter months but showed early signs of growth as we approached spring.  

March closed with 95 listings, a slight increase from 91 in January, yet still below the peak of 118 in September 2024.  

This pattern reflects typical market behavior, as fewer sellers list during the winter holidays and inventory begins to build again in Q1 in anticipation of spring.

Active Listing Count – Market Trends in East Shore Lake Tahoe  

As we stepped into Q1, active inventory slowly increased from its seasonal low, indicating renewed seller confidence.  

March 2025 closed with 82 active listings, up from 80 in January and significantly higher than March 2024's 55 listings—a 49% year-over-year increase.  

The increase from January through March aligns with expectations for a strengthening spring market.  

Inventory remains below last year’s September peak of 96 but continues to show steady year-over-year growth.

Takeaway: The consistent rise in active listings suggests a healthy, balanced market as the East Shore transitions into its most active season.

Median Listing Price Interpretation  

Median listing prices remained relatively subdued in Q1 following last year’s decline, though a gentle recovery began to take shape in March.  

The median list price rose to $1,399,000 in March, up from $1,321,471 in January, but still well below the $3,000,000 peak in April 2024.  

This reflects a more diverse range of listings, with mid-range homes entering the market earlier in the year.

Months of Inventory Interpretation  

The supply of homes, measured in months of inventory, ticked up slightly as buyer activity remained tempered through Q1.  

March held steady at 3.0 months, rising modestly from 2.8 in February and down slightly from 3.1 in December.  

This upward drift is consistent with seasonal norms and doesn’t yet suggest a shift toward a buyer’s market.

Number of Homes with Price Reductions Interpretation  

Price reductions dropped sharply in Q1, indicating that sellers are pricing more strategically from the start.  

Only 8 homes saw price reductions in March, down from 16 in February and well below the Q3 highs of 28.  

The low number of reductions reflects seller confidence and the early signs of renewed demand.

Median Days on Market Interpretation  

Homes lingered longer on the market throughout Q1—a trend that mirrors typical winter behavior in Tahoe’s seasonal market.  

March recorded a median of 164 days on market, up from 145 in February and 124 in January.  

This extended timeline is expected for properties listed during quieter months but may begin to reverse as spring momentum builds.

Median Listing Price per Square Foot

Prices per square foot declined through the winter but began to rebound slightly by March.  

After reaching a low of $758 in February, the March figure rose to $789, showing tentative pricing strength as buyer interest returns.  

Still, this remains below the $1,001 peak from May 2024, reinforcing the overall affordability shift in the market.

New Listing Count Interpretation  

New listings rose gradually throughout the quarter, signaling sellers’ readiness to engage as conditions improve.  

From just 10 new listings in January, the count increased to 14 in February and 16 in March.  

This progression suggests a cautious but deliberate start to the spring listing season, in line with historical patterns.

Pending Listing Count Interpretation  

Buyer activity remained conservative in Q1, though March showed a mild recovery.  

Pending listings held at 12 in both January and February, before ticking up to 14 in March.  

While still well below peak months, this rise hints at renewed buyer engagement entering Q2.

Looking ahead, there’s good reason to feel optimistic about the spring and summer real estate market here on the East Shore. Inventory is beginning to climb after the winter slowdown, and national trends suggest more homes will be hitting the market in the coming months. According to recent reports from Realtor.com and NPR, mortgage rates are expected to settle somewhere between 5.5% and 6.5% this year, which may encourage more buyers to start making moves again. At the same time, home prices are forecasted to grow gradually—around 2% to 4% nationwide—which points to a market that’s gaining traction without overheating.

Locally, we’re seeing a similar story unfold. Buyers have more options than they did a year ago, and sellers are entering the market with more realistic expectations. It’s shaping up to be a healthy, active season—just the kind of balance we like to see as we head into one of the busiest times of year for Tahoe real estate.