NORTH LAKE TAHOE - TRUCKEE
REAL ESTATE MARKET REPORT
Active Residential Inventory: The most noticeable differece between 2025 and 2026 is the inventory of homes for sale. Currently there are 25% less homes actively for sale than there were last year at this time (450 currently active listings compared to 600 last year). Supply dynamics changed significantly in 2025, particulary in Q2 when inventory approached prepandemic levels for the first time. But that turned out not to be a long term trend. Inventory levels mellowed in the 2nd half of 2025 and continue to be historically low in the first half of 2026. We expect that trend to continue for the foreseeable future. We have hovered between 5 to 6 months of supply from Q3 2025 through H1 2026. Historically 5 to 6 months of supply is considered a balanced market. June activity is pointing toward the possibility of this number starting to drop. We will have our eyes closely on that as it's an important guide for pricing properties that come on the market. What’s Going On Looking Forward? The Tahoe/Truckee market is not “hot,” but the momentum that emerged in the second half of 2025 has remained resilient. Despite the geopolitical disruptions earlier this year, underlying demand and activity levels have held steady, supporting an optimistic outlook. I've used the phrase "healthy and strengthening" to describe the market and I think that is still the correct moniker. At the beginning of the year we predicted a 5-10% increase in the number of transactions this year compared to 2025. So far, we are on track. If anything has changed, it's that I see the possibility of beating that number to the upside. Sellers, keep in mind, this is still a much better time to be a seller than it was in 2019 (which seemed like a very healthy market at the time!). You can expect a similar time on market, but much higher sales prices! Buyers, keep in mind, this is the most balanced market we have seen in the last 7 years. You now have the following things working in your favor: An inventory of homes to choose from. The ability to negotiate price. The ability to inspect a property and have normal contingencies. The ability to negotiate repairs. Tahoe real estate prices are still significantly cheaper than those seen in other major ski resort markets in the western United States (Park City, Vail, Aspen, Jackson Hole, etc) Yes, interest rates are higher than we got used to but are in the “normal” range historically speaking. We do not expect significant changes in interest rates in the foreseeable future. If/when they do start to drop, it will likely cause an increase in demand and increased prices. You are better off to buy the right home now, in a relatively balanced market, and refinance if rates drop. Contact Me Today to Find Out More about the Opportunities Available in the North Lake Tahoe-Truckee Market. Contact Me Today to Find Out More about the Opportunities Available in the North Lake Tahoe-Truckee Market.
Residential Sales Summary If you have been watching/reading the national news you may have a negative perception of the current real estate market. However, if your attention is more regional, and focused on the Bay Area or Lake Tahoe, you probably have a more optimistic stance. While many parts of the market don't look statistically different than the first half of 2025, there are pockets that are really hopping, and we have a broader sense of optimism than last year at this time. Like the Bay Area, luxury properties in select locales are seeing high demand. One of the areas that stands out most is Incline Village. In the first half of 2025 Incline saw 58 sales including 1 over $10m ($11.8m). In the first half of 2026, those numbers jumped to 85 sales including 10 over $10m. Included in that group are sales at $20m, $25.5m, and $46m. Those are dramatic numbers! On the California side there is big money coming after prime real estate as well. In the first half of the year there were 25 sales over $5m (compared to 19 in the same period last year) and 7 sales over $10m (compared to 3 last year). Other parts of the market are still trying to find traction, but there is very real reason for optimism. There's been a clear uptick in the number of properties going into contract, in all price ranges, since the beginning of June (last year that didn't happen until mid July). Activity in the form of online views/clicks, property showings, and visits to open houses is clearly stronger. Total Residential Sales: There were 448 residential sales in the first half of 2026, the highest number of H1 sales in the last 4 years. It's a 6.7% increase over the 420 sales in H1 2025. It puts us just over the 5 year average (446 sales) and at 85% of the 10 year average for the period. This continues a trend, going back to Q3 of 2025, of transaction numbers at the 5 year average. However, you probably noticed the significant difference between the 5 year and 10 year averages. In the last 4 years, we have never exceeded 450 residential transactions in H1. In the 6 years prior, we were never below 530 transactions in H1 (and peaked at 770 during the pandemic). This is a clear indicator that we have not come out of the down cycle, yet. Median and Average Sales Prices: Pricing continues to be a positive story in the Lake Tahoe/Truckee market. The median price of a residential sale in H1 2026 came in at $1.145m, 2% higher than the median for the full years of both 2024 and 2025. The average sales price was $1.759 million, in line with the full year of 2025. For single family homes the median for H1 was $1.347m, up 7.9% from $1.248m for the full year 2025. The average price came in at $2.015m up 1% from $1.996m for the full year of 2025. For condos the median price was $735k (up from $717k for full year 2025) and the average was $1.06m (up from $950k for full year 2025). Prices continue to be at a very healthy premium from where they stood in 2019 (before the pandemic). For single family homes the H1 median sales price is 81% higher compared to the full year of 2019 (from $744k to $1.347m). For condos the median sales price is 71% higher compared to 2019 (from $430k to $735k).
Diana Graves Realtor® | Top 2% - Coldwell Banker, Globally North Lake Tahoe | Truckee CalRE# 01481209 diana@dianatahoe.com 530.277.3085 dianatahoe.com
Diana Graves
2026 First HALF Real Estate Market Report North Lake Tahoe -Truckee Residential Properties – Single Family Homes & Condominiums
CONTENTS
*As of 12/31/2024.
North Lake Tahoe & Truckee North & West Shore Lake Tahoe Palisades Tahoe Truckee Tahoe Donner Martis Camp Lahontan Schaffer's Mill Old Greenwood, Gray's Crossing, Pine Forest Northstar Serene Lakes Soda Springs, Pla-Vada, Kingvale
Local Reach
w
Global Influence
$2.35B Volume 3,218 Closed Units 744 Agents
96,000+ Agents* 45 Countries*
$713,000 MEDIAN SALES PRICE
Condo & Townhome North Lake Tahoe & TRuckee
Units Sold Sales Volume Median Sales Price Average Sales Price Units Sold Under $1,000,000 Units Sold $1,000,000 - $1,999,999 Units Sold $2,000,000 - $4,999,999 Units Sold Over $5,000,000 Days on Market (Median) Days on Market (Average)
Units Sold Sales Volume Median Sales Price Average Sales Price Units Sold Under $500,000 Units Sold $500,000 - $1,000,000 Units Sold Over $1,000,000 Days on Market (Median) Days on Market (Average)
Single- Family Homes North Lake Tahoe & TRuckee
% Change 7.6% 10.3% -3.0% 2.5% 26.3% 15.3% -12.5% 16.7% -1.4%
2025 300 $604,640,352 $1,347,000 $2,015,467 97 115 69 19 24 53
2019 148 $81,713,559 $430,000 $552,118 100 33 14 38 84
2019 383 $472,193,574 $755,000 $1,232,881 271 73 28 11 34 81
2026 127 $137,949,783 $713,000 $1,086,218 24 68 35 35 72
$1,275,500 MEDIAN SALES PRICE
2025 118 $125,105,845 $735,000 $1,060,219 19 59 40 30 73
2026 321 $650,080,568 $1,275,000 $2,025,173 100 139 58 24 21 54
% Change 7.0% 7.5% -5.3% 0.5% 3.1% 20.9% -15.9% 26.3% -12.5% 1.9%
% Change 26.9% 31.4% -0.2% 3.5% 25.9% 50.0% -31.3% 100.0% 25.0% 15.8%
2025 33 $28,347,000 $675,000 $859,000 8 15 10 34 83
2019 39 $15,373,000 $375,000 $394,179 35 3 1 41 67
% Change 18.2% 44.5% -8.9% 22.3% 12.5% 46.7% -20.0% -2.9% -15.7%
Condo & Townhome North & WEst Shore Lake Tahoe
2019 111 $163,470,860 $728,975 $1,472,710 81 18 7 5 36 94
2026 39 $40,966,115 $615,000 $1,050,413 9 22 8 33 70
Single- Family Homes North & WEst Shore Lake Tahoe
$1,175,000 MEDIAN SALES PRICE
2026 99 $197,038,681 $1,175,000 $1,990,289 34 48 11 6 25 66
$615,000 MEDIAN SALES PRICE
2025 78 $149,997,405 $1,177,500 $1,923,043 27 32 16 3 20 57
2019 18 $22,192,000 $917,500 $1,232,888 10 6 2 0 77 105
2025 10 $17,030,000 $2,035,000 $1,703,000 4 1 5 0 80 115
2019 29 $16,036,000 $465,000 $552,965 15 12 2 39 159
2026 12 $18,666,600 $1,514,550 $1,555,550 1 9 2 0 20 68
% Change 61.5% 91.3% 4.3% 18.4% 500.0% -18.2% 500.0% -67.9% -49.0%
Condo & Townhome Palisades Tahoe
Single- Family Homes Palisades Tahoe
% Change 20.0% 9.6% -25.6% -8.7% -75.0% 800.0% -60.0% undef -75.0% -40.9%
$1,514,550 MEDIAN SALES PRICE
$840,000 MEDIAN SALES PRICE
2025 13 $10,920,000 $805,000 $840,000 1 11 1 134 147
2026 21 $20,886,500 $840,000 $994,595 6 9 6 43 75
2019 80 $50,304,559 $447,500 $628,806 50 18 12 29 66
2025 72 $85,838,845 $767,500 $1,192,206 10 33 29 28 55
Single- Family Homes TRUCKEE
$760,000 MEDIAN SALES PRICE
% Change -6.9% -11.3% -1.0% -4.7% -10.0% 12.1% -27.6% 14.3% 30.9%
2026 67 $76,097,168 $760,000 $1,135,778 9 37 21 32 72
2025 212 $437,612,947 $1,365,000 $2,064,212 66 82 48 16 24 49
% Change -0.9% -0.7% -3.6% 0.2% -1.5% 0.0% -6.3% 12.5% -20.8% -4.1%
2019 254 $286,530,714 $755,000 $1,128,073 180 49 19 6 30 74
$1,316,000 MEDIAN SALES PRICE
2026 210 $434,375,287 $1,316,000 $2,068,453 65 82 45 18 19 47
Condo & Townhome TRUCKEE
% Change -1.4% -4.2% 3.4% -2.9% 0.0% 0.0% -11.1% undef -38.9% -3.0%
$575,000 MEDIAN SALES PRICE
Single- Family Homes TAHOE DONNER
2026 15 $8,106,000 $575,000 $540,400 5 10 0 45 45
$1,305,000 MEDIAN SALES PRICE
2025 8 $5,260,000 $671,250 $657,500 1 7 0 51 51
Condo & Townhome TAHOE DONNER
2025 74 $101,547,498 $1,262,594 $1,372,263 20 45 9 0 18 33
2019 27 $9,331,359 $368,000 $345,605 27 0 0 14 32
% Change 87.5% 54.1% -14.3% -17.8% 400.0% 42.9% undef -11.8% -11.8%
2019 105 $84,475,935 $739,000 $804,532 88 17 0 0 22 46
2026 73 $97,263,234 $1,305,000 $1,332,373 20 45 8 0 11 32
2019 13 $64,417,535 $4,620,000 $4,955,195 0 0 7 6 100 153
2026 8 $36,815,795 $4,850,000 $4,601,974 0 0 5 3 46 55
% Change 7.1% 11.0% 0.4% 3.6% undef undef 0.0% 7.7% -14.3% 9.9%
% Change -33.3% -8.4% 49.2% 37.3% undef undef -54.5% undef -16.4% -31.3%
2025 14 $101,878,924 $6,975,000 $7,277,066 1 11 2 0 63 71
Single- Family Homes MARTIS CAMP
2025 12 $40,209,134 $3,250,000 $3,350,761 0 1 11 0 55 80
$7,000,000 MEDIAN SALES PRICE
Units Sold Sales Volume Median Sales Price Average Sales Price Units Sold Under $5,000,000 Units Sold $5,000,000 - $9,999,999 Units Sold $10,000,000 - $14,999,999 Units Sold Over $15,000,000 Days on Market (Median) Days on Market (Average)
2026 15 $113,048,000 $7,000,000 $7,536,533 1 12 2 0 54 78
$4,850,000 MEDIAN SALES PRICE
2019 7 $20,730,000 $2,810,000 $2,961,428 0 1 6 0 97 124
SINGLE-FAMILY HOMES LAHONTAN
2019 6 $8,409,000 $1,447,000 $1,401,500 0 6 0 0 54 69
% Change -62.5% -55.4% 1.0% 19.0% undef -87.5% -50.0% undef 73.3% -34.7%
2026 9 $25,580,000 $2,710,000 $2,842,222 0 1 8 0 26 47
2025 24 $57,344,667 $2,682,875 $2,389,361 0 8 16 0 15 72
$2,710,000 MEDIAN SALES PRICE
2025 10 $36,990,000 $3,497,500 $3,699,000 0 4 4 2 33 75
SINGLE-FAMILY HOMES Old Greenwood, Gray's Crossing, Pine Forest
Single- Family Homes Schaffer's Mill
2026 19 $52,065,599 $2,325,000 $2,740,294 0 5 14 0 26 63
2019 20 $26,655,000 $1,400,000 $1,332,750 7 12 1 0 60 93
$2,325,000 MEDIAN SALES PRICE
% Change 90.0% 40.8% -33.5% -25.9% undef 25.0% 250.0% -100.0% -21.2% -16.0%
Condo & Townhome NORTHSTAR
2025 5 $13,203,800 $1,395,000 $2,640,760 0 4 0 1 56 54
% Change 180.0% 109.3% 13.6% -25.3% undef 100.0% undef 0.0% -55.4% -42.6%
% Change -25.8% -31.6% 2.5% -7.8% -33.3% -14.3% -35.7% 93.5% 100.0%
$1,585,000 MEDIAN SALES PRICE
2026 14 $27,635,250 $1,585,000 $1,973,946 1 8 4 1 25 31
2019 15 $20,938,000 $1,165,000 $1,395,866 6 7 2 0 140 159
2019 26 $22,313,000 $542,500 $858,192 12 7 7 100 119
$810,000 MEDIAN SALES PRICE
Single- Family Homes NORTHSTAR
2026 23 $31,090,168 $810,000 $1,351,746 2 12 9 60 114
2025 31 $45,446,000 $790,000 $1,466,000 3 14 14 31 57
% Change 60.0% 90.3% 48.2% 18.9% 16.7% 0.0% undef undef 28.8% 25.7%
2019 10 $10,332,500 $721,000 $1,033,250 7 2 1 0 104 103
$1,025,000 MEDIAN SALES PRICE
2025 5 $4,639,000 $890,000 $927,800 3 2 0 0 3 2
SINGLE-FAMILY HOMES SODA SPRINGS, PLA-VADA, KINGVALE
2025 5 $3,295,000 $515,000 $659,000 6 1 0 0 59 70
2019 6 $2,231,000 $325,500 $371,833 6 0 0 0 99 121
Single- Family Homes SERENE LAKES
$763,000 MEDIAN SALES PRICE
% Change 100.0% 116.5% 15.2% 8.3% 66.7% 150.0% undef undef 133.3% 850.0% 0 $0 $0 $0 0 0 0 0 0 0
2026 10 $10,044,000 $1,025,000 $1,004,400 5 5 0 0 7 19
2026 8 $6,270,439 $763,000 $783,804 7 1 0 0 76 88
The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Not intended as a solicitation if your property is already listed by another broker. Affiliated real estate agents are independent contractor sales associates, not employees. ©2026 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
