Lake Tahoe Real Estate Market Update: September 2026

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$22,000,000 5 bd · 7.5 ba 9519 Wawona Court, Truckee

$21,950,000 7 bd · 9 ba 10981 Olana Drive, Truckee

$5,295,000 5 bd · 5.5 ba 91 Winding Creek Road, Olympic Valley

$4,250,000 4 bd · 5 ba 1620 Lanny Lane, Olympic Valley

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258 homes sold across Lake Tahoe and Truckee in September, at a median price of $989,500, against 266 homes at $999,000 in September 2025. The typical home took 53 days to sell and closed at 95.3% of its first list price; 48% sold for 5% or more below it. With 882 homes for sale, the lake holds 4.6 months of supply: balanced overall, a buyer's market for condos (6.6 months) and for homes over $3 million.

Over the past 12 months, 2,292 homes sold at a median $1,030,000, up 4% on the year before. Most of that rise is the mix of homes that sold. The median price per square foot, which compares like with like, is up 1%: flat, not falling, and softer on the California North Shore than in Nevada.

September 2026 at a glance

Every home sale recorded on the four MLS boards that serve Lake Tahoe and Truckee, with homes listed on two boards counted once. Medians throughout.

The quarter: Q3 2026 vs. Q3 2025

Closings from July 1 to September 30, against the same quarter of 2025. Medians throughout.

For quarter-by-quarter numbers, see our Lake Tahoe market report.

What stood out in September

• Houses are holding; condos are not. Houses have 3.9 months of supply and condos 6.6. The gap is widest in South Lake Tahoe (3.5 months for houses, 8.5 for condos) and Olympic Valley, where 39 condos are for sale, 11.1 months' worth.
• Over $3 million, buyers set the terms. Homes from $3 million to $5 million have 7.7 months of supply and homes over $5 million 7.2, against about four months below $3 million. 64% of September's $5 million-plus sales closed at least 5% under their first list price.
• The first price is doing the damage. Homes that sold within two months closed at a median 96.6% to 100.0% of their first list price. Homes that sat two to four months closed at 93.1%, and past four months at 88.8%. 425 of the 882 homes for sale have already cut their price, and 83 listings were withdrawn in September, up from 66 in the same days of August.
• The fall slowdown has started. 238 homes went under contract, against 269 in the same days of August, while new listings slipped only to 272 from 289. Supply builds into October when contracts slow and listings don't.
• California's North and West Shore is soft; Incline Village is firm. Over 12 months, price per square foot is down 11% in Kings Beach, down 13% in Carnelian Bay, down 5% in Homewood and down 8% in Tahoe City. In Incline Village it is up 5%, on 335 sales.
• Under three months of supply, a seller's market: Tahoe Island Park (1.6), Homewood (1.9), Soda Springs & Serene Lakes (2.0), Glenshire (2.1), Montreux (2.3), Tahoe Keys (2.5), Martis Camp (2.7), Tahoe Donner (2.7), Tahoe City (2.8). Over seven months, a buyer's market: Lahontan (12.7), Olympic Valley Village & Resort (11.3), Olympic Valley (8.0), Kingsbury Grade (7.7), Glenbrook (7.6), Schaffer's Mill (7.4), Kings Beach (7.3). (Neighborhoods with at least 15 sales in the past year.)

By price range

Months of supply under 4 favors sellers, 4 to 6 is balanced, and over 6 favors buyers.

Condos are the soft side of every region with enough of them to measure: 7.6 months of supply in Truckee, Northstar and Olympic Valley, 7.3 on the South Shore and 5.8 in Incline Village, against 3.6, 3.9 and 5.0 for houses.

By region

The Lake Tahoe totals above cover the four basin and Truckee regions. The Reno–Carson communities are reported on their own.

Neighborhood by neighborhood

Every neighborhood we cover, town by town. A handful of sales can move a small neighborhood's median a long way, so read the 12-month numbers alongside the month. Jump to: Incline Village & Crystal Bay · North & West Shore · Truckee, Northstar & Olympic Valley · South Shore · Reno–Carson golf & valley communities.

Incline Village & Crystal Bay (NV)

Incline Village closed 42 home sales, up from 34 in September 2025: 19 houses at a $2.65M median and 23 condos at $1.06M. They were also the slowest of the four regions, a median 81 days, and 50% closed at least 5% under their first price. Price per square foot is up 5% over 12 months. Crystal Bay had no closings; its 10 listings are more than a year of supply at the past year's pace.

Incline Village

42 homes sold in September at a median $1.72M ($804 a square foot). The typical sale took 81 days and closed at 95.1% of its first list price; 50% sold for 5% or more below it. One lot sold as well. 143 homes are for sale at a median asking price of $1.17M, 5.1 months of supply, with 35 more under contract. Over the past 12 months, 335 homes sold at a median $1.50M, and the median price per square foot is up 5% on the 12 months before.

• Lakeview: One home sold in September: 999 Lakeshore Boulevard #21, 3 bedrooms and 1,664 sq ft, for $4,000,000 after 20 days on the market at 100.0% of its first list price. 1 home is for sale, 2.0 months of supply, with 1 more under contract. Over the past 12 months, 6 homes sold at a median $8.20M.
• Mill Creek: No homes closed in September; the most recent sale was 250 Pine Cone Road, $6,500,000 on Aug 18. 3 homes are for sale at a median asking price of $4.25M, 3.3 months of supply, with 1 more under contract. Over the past 12 months, 11 homes sold at a median $3.35M.
• Ponderosa: One home sold in September: 575 Jackpine Lane, 4 bedrooms and 3,022 sq ft, for $2,950,000 after 52 days on the market at 100.0% of its first list price. 6 homes are for sale at a median asking price of $4.07M, 7.2 months of supply. Over the past 12 months, 10 homes sold at a median $2.95M.

Crystal Bay

No homes closed in September; the most recent sale was 120 State Route 28 #47, $10,650,000 on Aug 20. 10 homes are for sale at a median asking price of $5.16M, 13.3 months of supply, with 1 more under contract. Over the past 12 months, 9 homes sold at a median $5.90M.

• Lakefront Estates: No homes closed in September; the most recent sale was 120 State Route 28 #47, $10,650,000 on Aug 20. None is for sale; 1 is under contract. Over the past 12 months, 3 homes sold at a median $10.7M.
• Stillwater Cove: No homes closed in September; the most recent sale was 120 State Route 28 #47, $10,650,000 on Aug 20. 3 homes are for sale at a median asking price of $4.38M.

North & West Shore (CA)

The California North and West Shore closed 45 sales, against 54 a year ago, at a $1.03M median, and 52% of them closed 5% or more below the first price. Most of its towns are down per square foot over 12 months; the table has each one. Tahoe City and Homewood are the exceptions on supply, with 2.8 and 1.9 months and 16 homes under contract between them.

Kings Beach

4 homes sold in September at a median $887K ($518 a square foot). The typical sale took 38 days and closed at 93.3% of its first list price; 75% sold for 5% or more below it. 33 homes are for sale at a median asking price of $925K, 7.3 months of supply, with 7 more under contract. Over the past 12 months, 54 homes sold at a median $840K, and the median price per square foot is down 11% on the 12 months before.

• Brockway Springs: No homes closed in September; the most recent sale was 9200 Brockway Springs Drive #68, $1,750,000 on Aug 3. 1 home is for sale. Over the past 12 months, 5 homes sold at a median $1.75M.
• Kingswood Village & Downtown: Two homes sold in September, for $510K and $420K. 7 homes are for sale at a median asking price of $495K, 5.2 months of supply, with 1 more under contract. Over the past 12 months, 16 homes sold at a median $612K.

Tahoe Vista

5 homes sold in September at a median $756K ($736 a square foot). The typical sale took 100 days and closed at 96.2% of its first list price; 40% sold for 5% or more below it. 16 homes are for sale at a median asking price of $1.09M, 3.8 months of supply, with 7 more under contract. Over the past 12 months, 51 homes sold at a median $918K, and the median price per square foot is down 3% on the 12 months before.

• Tahoe Vista Lakefront & Beaches: Two homes sold in September, for $4.17M and $510K. 1 home is for sale, 1.3 months of supply, with 2 more under contract. Over the past 12 months, 9 homes sold at a median $1.15M.

Carnelian Bay

14 homes sold in September at a median $1.05M ($659 a square foot). The typical sale took 37 days and closed at 93.3% of its first list price; 64% sold for 5% or more below it. 24 homes are for sale at a median asking price of $1.14M, 4.3 months of supply, with 8 more under contract. Over the past 12 months, 67 homes sold at a median $1.05M, and the median price per square foot is down 13% on the 12 months before.

• Carnelian Bay Lakefront: No homes closed in September; the most recent sale was 5581 North Lake Boulevard, $2,310,000 on Apr 24. 1 home is for sale, with 1 more under contract.

Tahoe City

15 homes sold in September at a median $1.24M ($809 a square foot). The typical sale took 38 days and closed at 95.5% of its first list price; 43% sold for 5% or more below it. 28 homes are for sale at a median asking price of $1.22M, 2.8 months of supply, with 11 more under contract. Over the past 12 months, 120 homes sold at a median $1.22M, and the median price per square foot is down 8% on the 12 months before.

• Dollar Point: Two homes sold in September, for $2.05M and $2.00M. 1 home is for sale, 1.1 months of supply. Over the past 12 months, 11 homes sold at a median $1.88M.
• Lake Forest: Three homes sold in September, for $810K, $600K, and $540K. 6 homes are for sale at a median asking price of $645K, 3.6 months of supply, with 1 more under contract. Over the past 12 months, 20 homes sold at a median $637K.
• Sunnyside & Tahoe Park: No homes closed in September; the most recent sale was 1675 Washoe Way, $750,000 on Aug 18. 1 home is for sale, 2.0 months of supply. Over the past 12 months, 6 homes sold at a median $1.54M.

Homewood

Two homes sold in September, for $2.95M and $865K. One lot sold as well. 6 homes are for sale at a median asking price of $1.89M, 1.9 months of supply, with 5 more under contract. Over the past 12 months, 37 homes sold at a median $1.40M, and the median price per square foot is down 5% on the 12 months before.

• Chambers Landing: No homes closed in September; the most recent sale was 6370 Flicker Avenue, $1,140,000 on May 5. 4 homes are for sale at a median asking price of $2.55M, 6.9 months of supply. Over the past 12 months, 7 homes sold at a median $1.00M.

Tahoma

5 homes sold in September at a median $700K ($519 a square foot). The typical sale took 47 days and closed at 93.5% of its first list price; 60% sold for 5% or more below it. 21 homes are for sale at a median asking price of $899K, 4.5 months of supply, with 7 more under contract. Over the past 12 months, 56 homes sold at a median $902K, and the median price per square foot is up 12% on the 12 months before.

• Sugar Pine & Meeks Bay: No homes closed in September; the most recent sale was 295 Cedar Ridge Road, $1,295,028 on Aug 13. 2 homes are for sale. Over the past 12 months, 4 homes sold at a median $1.27M.

Meeks Bay & Rubicon Bay

No homes closed in September; the most recent sale was 8747 Lakeside Drive, $13,500,000 on Aug 21. 3 homes are for sale at a median asking price of $4.35M. Over the past 12 months, 5 homes sold at a median $1.75M.

Truckee, Northstar & Olympic Valley (CA)

Truckee's median jumped to $1.37M because the private clubs had a big month: 11 sales in Martis Camp, Lahontan and Schaffer's Mill at a $5.75M median, including 8133 Valhalla Drive in Martis Camp at $14,350,000, the top sale at the lake. Outside the clubs and Northstar, 44 homes sold at a $1.17M median in a median 24 days, at 97.5% of first list, one of the quickest, fullest-price markets at the lake. Condos are the soft side here too: Northstar's have 7.8 months of supply and Olympic Valley's 11.1.

Truckee

58 homes sold in September at a median $1.37M ($674 a square foot). The typical sale took 28 days and closed at 95.9% of its first list price; 41% sold for 5% or more below it. Seven lots sold as well. 194 homes are for sale at a median asking price of $1.35M, 4.1 months of supply, with 55 more under contract. Over the past 12 months, 565 homes sold at a median $1.27M, and the median price per square foot is up 1% on the 12 months before. The private clubs lift Truckee's median this month; the "outside the private clubs" line below is the rest of town.

• Tahoe Donner: 24 homes sold in September at a median $1.27M ($622 a square foot). The typical sale took 28 days and closed at 98.7% of its first list price; 29% sold for 5% or more below it. Three lots sold as well. 53 homes are for sale at a median asking price of $965K, 2.7 months of supply, with 19 more under contract. Over the past 12 months, 232 homes sold at a median $1.22M, and the median price per square foot is up 1% on the 12 months before.
• Glenshire: 6 homes sold in September at a median $1.09M ($657 a square foot). The typical sale took 36 days and closed at 97.1% of its first list price; 33% sold for 5% or more below it. 9 homes are for sale at a median asking price of $875K, 2.1 months of supply, with 3 more under contract. Over the past 12 months, 52 homes sold at a median $970K, and the median price per square foot is up 7% on the 12 months before.
• Old Greenwood & Gray's Crossing: Three homes sold in September, for $3.26M, $3.20M, and $1.40M. One lot sold as well. 15 homes are for sale at a median asking price of $3.00M, 6.4 months of supply, with 1 more under contract. Over the past 12 months, 28 homes sold at a median $2.72M, and the median price per square foot is up 3% on the 12 months before.
• Martis Camp: 5 homes sold in September at a median $6.30M ($1,797 a square foot). The typical sale took 9 days and closed at 91.9% of its first list price; 75% sold for 5% or more below it. One lot sold as well. 7 homes are for sale at a median asking price of $14.0M, 2.7 months of supply, with 1 more under contract. Over the past 12 months, 31 homes sold at a median $7.32M, and the median price per square foot is up 1% on the 12 months before.
• Lahontan: One home sold in September: 10250 Dick Barter, 7 bedrooms and 8,946 sq ft, for $6,700,000 after 334 days on the market at 89.4% of its first list price. 19 homes are for sale at a median asking price of $4.59M, 12.7 months of supply, with 2 more under contract. Over the past 12 months, 18 homes sold at a median $4.85M.
• Schaffer's Mill: 5 homes sold in September at a median $2.51M ($914 a square foot). The typical sale took 51 days and closed at 90.8% of its first list price; 75% sold for 5% or more below it. One lot sold as well. 21 homes are for sale at a median asking price of $3.90M, 7.4 months of supply, with 1 more under contract. Over the past 12 months, 34 homes sold at a median $2.52M, and the median price per square foot is down 4% on the 12 months before.
• Martis Valley clubs combined: 11 homes sold in September at a median $5.75M ($1,196 a square foot). The typical sale took 31 days and closed at 90.3% of its first list price; 78% sold for 5% or more below it. Two lots sold as well. 47 homes are for sale at a median asking price of $4.59M, 6.8 months of supply, with 4 more under contract. Over the past 12 months, 83 homes sold at a median $4.92M, and the median price per square foot is down 3% on the 12 months before.
• Truckee outside the private clubs: 44 homes sold in September at a median $1.17M ($638 a square foot). The typical sale took 24 days and closed at 97.5% of its first list price; 30% sold for 5% or more below it. Four lots sold as well. 132 homes are for sale at a median asking price of $970K, 3.5 months of supply, with 50 more under contract. Over the past 12 months, 454 homes sold at a median $1.07M, and the median price per square foot is down 1% on the 12 months before.

Northstar

11 homes sold in September at a median $1.90M ($714 a square foot). The typical sale took 52 days and closed at 95.3% of its first list price; 40% sold for 5% or more below it. 45 homes are for sale at a median asking price of $1.32M, 6.6 months of supply, with 6 more under contract. Over the past 12 months, 82 homes sold at a median $1.29M, and the median price per square foot is down 4% on the 12 months before.

Olympic Valley

12 homes sold in September at a median $970K ($780 a square foot). The typical sale took 76 days and closed at 94.9% of its first list price; 73% sold for 5% or more below it. 46 homes are for sale at a median asking price of $775K, 8.0 months of supply, with 4 more under contract. Over the past 12 months, 69 homes sold at a median $1.12M, and the median price per square foot is down 6% on the 12 months before.

• Olympic Valley Village & Resort: 7 homes sold in September at a median $960K ($1,192 a square foot). The typical sale took 22 days and closed at 95.0% of its first list price; 67% sold for 5% or more below it. 33 homes are for sale at a median asking price of $685K, 11.3 months of supply, with 2 more under contract. Over the past 12 months, 35 homes sold at a median $901K, and the median price per square foot is up 10% on the 12 months before.

Alpine Meadows

Three homes sold in September, for $1.60M, $1.52M, and $435K. 7 homes are for sale at a median asking price of $1.07M, 4.7 months of supply, with 1 more under contract. Over the past 12 months, 18 homes sold at a median $966K.

Soda Springs & Serene Lakes

7 homes sold in September at a median $675K ($435 a square foot). The typical sale took 72 days and closed at 81.9% of its first list price; 71% sold for 5% or more below it. One lot sold as well. 8 homes are for sale at a median asking price of $578K, 2.0 months of supply, with 5 more under contract. Over the past 12 months, 49 homes sold at a median $730K, and the median price per square foot is up 7% on the 12 months before.

South Shore (CA & NV)

South Lake Tahoe was steady: 69 sales at a $675K median, the most affordable market at the lake, with houses at 3.5 months of supply and condos at 8.5. Across the state line, Stateline's 64 homes for sale are 6.3 months of supply, 44 of them on Kingsbury Grade.

South Lake Tahoe

69 homes sold in September at a median $675K ($483 a square foot). The typical sale took 63 days and closed at 95.7% of its first list price; 46% sold for 5% or more below it. Four lots sold as well. 194 homes are for sale at a median asking price of $770K, 4.0 months of supply, with 49 more under contract. Over the past 12 months, 579 homes sold at a median $680K, and the median price per square foot is unchanged on the 12 months before.

• Tahoe Keys: Three homes sold in September, for $3.10M, $2.00M, and $1.60M. 4 homes are for sale at a median asking price of $737K, 2.5 months of supply, with 2 more under contract. Over the past 12 months, 19 homes sold at a median $2.02M.
• Al Tahoe & Bijou: 4 homes sold in September at a median $602K ($483 a square foot). The typical sale took 64 days and closed at 92.8% of its first list price; 50% sold for 5% or more below it. 10 homes are for sale at a median asking price of $909K, 4.8 months of supply, with 2 more under contract. Over the past 12 months, 25 homes sold at a median $720K, and the median price per square foot is down 10% on the 12 months before.
• Heavenly Valley: One home sold in September: 1151 Keller Road, 5 bedrooms, for $520,000 after 26 days on the market at 90.4% of its first list price. 14 homes are for sale at a median asking price of $860K, 6.2 months of supply, with 1 more under contract. Over the past 12 months, 27 homes sold at a median $650K.
• Tahoe Island Park: Three homes sold in September, for $770K, $645K, and $450K. 4 homes are for sale at a median asking price of $758K, 1.6 months of supply, with 3 more under contract. Over the past 12 months, 30 homes sold at a median $722K, and the median price per square foot is down 1% on the 12 months before.

Stateline

9 homes sold in September at a median $985K ($593 a square foot). The typical sale took 66 days and closed at 95.7% of its first list price; 44% sold for 5% or more below it. 64 homes are for sale at a median asking price of $875K, 6.3 months of supply, with 11 more under contract. Over the past 12 months, 122 homes sold at a median $950K, and the median price per square foot is down 3% on the 12 months before.

• Casino Corridor: Three homes sold in September, for $828K, $660K, and $615K. 6 homes are for sale at a median asking price of $868K, 5.5 months of supply. Over the past 12 months, 13 homes sold at a median $750K.
• Kingsbury Grade: Three homes sold in September, for $1.09M, $1.03M, and $465K. 44 homes are for sale at a median asking price of $760K, 7.7 months of supply, with 9 more under contract. Over the past 12 months, 69 homes sold at a median $636K, and the median price per square foot is down 11% on the 12 months before.
• Edgewood & The Tahoe Beach Club: One home sold in September: 17 Beach Club Drive #216, 3 bedrooms and 1,877 sq ft, for $3,300,000 after 58 days on the market at 95.7% of its first list price. 7 homes are for sale at a median asking price of $3.25M, 6.5 months of supply, with 1 more under contract. Over the past 12 months, 13 homes sold at a median $4.00M.

Zephyr Cove

One home sold in September: 425 Lakeview Avenue, 3 bedrooms and 2,161 sq ft, for $2,995,000 after 22 days on the market at 100.0% of its first list price. 23 homes are for sale at a median asking price of $2.19M, 5.9 months of supply, with 6 more under contract. Over the past 12 months, 47 homes sold at a median $1.77M, and the median price per square foot is up 24% on the 12 months before.

• Round Hill: No homes closed in September; the most recent sale was 317 Paiute Drive, $1,550,000 on Aug 19. 4 homes are for sale at a median asking price of $1.82M, 5.3 months of supply, with 1 more under contract. Over the past 12 months, 9 homes sold at a median $1.60M.
• Skyland & Cave Rock: No homes closed in September; the most recent sale was 1080 Skyland Drive, $10,400,000 on Jul 15. 1 home is for sale, 1.2 months of supply, with 1 more under contract. Over the past 12 months, 10 homes sold at a median $2.31M.

Glenbrook

One home sold in September: 1348 Winding Way, 4 bedrooms and 3,439 sq ft, for $3,050,000 after 115 days on the market at 95.7% of its first list price. 17 homes are for sale at a median asking price of $5.45M, 7.6 months of supply, with 2 more under contract. Over the past 12 months, 27 homes sold at a median $4.21M, and the median price per square foot is down 1% on the 12 months before.

Reno–Carson golf & valley communities (NV)

Outside the basin, Montreux (2.3 months of supply, 7 under contract) and Somersett (3.3) are the tightest of the golf communities. Clear Creek Tahoe closed 3 homes, including 3551 Cutoff Trail at $13,000,000, but its 12 listings are more than a year of supply.

Montreux

Three homes sold in September, for $3.40M, $2.80M, and $2.35M. One lot sold as well. 6 homes are for sale at a median asking price of $2.84M, 2.3 months of supply, with 7 more under contract. Over the past 12 months, 31 homes sold at a median $2.80M, and the median price per square foot is up 4% on the 12 months before.

Somersett

7 homes sold in September at a median $950K ($402 a square foot). The typical sale took 60 days and closed at 100.0% of its first list price; 14% sold for 5% or more below it. 36 homes are for sale at a median asking price of $1.06M, 3.3 months of supply, with 18 more under contract. Over the past 12 months, 129 homes sold at a median $825K, and the median price per square foot is down 1% on the 12 months before.

ArrowCreek

6 homes sold in September at a median $2.55M ($623 a square foot). The typical sale took 68 days and closed at 92.5% of its first list price; 80% sold for 5% or more below it. One lot sold as well. 21 homes are for sale at a median asking price of $1.80M, 4.0 months of supply, with 4 more under contract. Over the past 12 months, 63 homes sold at a median $1.73M, and the median price per square foot is up 1% on the 12 months before.

Clear Creek Tahoe

Three homes sold in September, for $13.0M, $7.95M, and $3.50M. Three lots sold as well. 12 homes are for sale at a median asking price of $8.20M, 14.4 months of supply, with 2 more under contract. Over the past 12 months, 10 homes sold at a median $6.50M.

Washoe Valley

9 homes sold in September at a median $925K ($337 a square foot). The typical sale took 52 days and closed at 97.8% of its first list price; 25% sold for 5% or more below it. 20 homes are for sale at a median asking price of $1.13M, 4.8 months of supply, with 1 more under contract. Over the past 12 months, 50 homes sold at a median $794K, and the median price per square foot is up 4% on the 12 months before.

• Washoe Valley ranch estates: Three homes sold in September, for $3.70M, $2.04M, and $1.85M. 8 homes are for sale at a median asking price of $2.54M, 6.4 months of supply. Over the past 12 months, 15 homes sold at a median $1.43M.

The September top ten

What it means if you're selling

How long a home sat decided what it sold for. September's home sales by days on market:

• Price it for the first two weeks. The table above is the whole argument: 41 homes sold within two weeks at a median 100.0% of their first list price, and the 40 that took more than four months got 88.8%. Our overpricing report tracks what an overpriced start costs, across Tahoe sales since 2023.
• Know your band and your type. Under $3 million the market is balanced, at about four months of supply; above it, buyers have seven months of homes to choose from. Condos have 6.6 months of supply against 3.9 for houses, so they need sharper pricing.
• Expect fewer buyers into October. Contracts fell to 238 from 269 in the same days of August while new listings only slipped to 272, so every listing is competing with more of its neighbors.
• Start from your street, not the lake. The neighborhood tables above show what sold near you this month. For your own home, get a free home valuation: we price it against these same closed sales.

What it means if you're buying

• Condos and $3 million-plus homes give you room. Condos have 6.6 months of supply and homes over $5 million 7.2; 64% of this month's $5 million-plus sales closed at least 5% under their first price.
• Start with the price cuts. 425 of the 882 homes for sale have already cut their price, and 231 did so in September. Those sellers have already shown they will move.
• In the tight neighborhoods, be ready. In Tahoe Donner and Glenshire, homes sold in a median 28 and 36 days at 98.7% and 97.1% of their first price. Have financing approved before you tour.
• See what's for sale now: Lake Tahoe homes for sale, or any town's full list from its page above.

How we count

• Source: closed sales, listings and price changes from the four MLS boards that serve the lake: Northern Nevada Regional MLS, Tahoe Sierra MLS, the South Tahoe Association of Realtors MLS and Incline Village Realtors. A home listed on two boards is counted once. Sales that never went through the MLS aren't included. Data pulled 2026-10-01.
• Homes means houses, condos, townhomes, multi-unit buildings and manufactured homes. Lots are counted separately. Timeshares, fractional shares, boat slips, commercial property and leases are left out (5 fractional or timeshare resales in September).
• Days on market and sale-to-list ratios leave out the 12 sales recorded with zero days on market. Those are almost always homes sold off the MLS and entered after closing, with the sale price as the list price.
• Months of supply is homes for sale on October 1 divided by the average number sold per month over the past 12 months.
• Trends are price per square foot, not median price: a median moves with the mix of homes that sold as much as with prices. A change is shown only when at least 20 homes sold in both periods, and a median price change only when at least 30 did.
• Neighborhoods follow the maps on our neighborhood pages, checked street by street against every sale: Schaffer's Mill counts only the club's own streets, Brockway Springs only the complex itself, and Tahoe Village's condos count in Kingsbury Grade rather than the Casino Corridor. Gray's Crossing is reported together with Old Greenwood; Martis Valley is the three clubs combined; Northstar Big Springs (the houses) is part of the Northstar row; Northstar Village Condos is part of the Northstar row; Olympic Valley Residential is the Olympic Valley row; Palisades Tahoe is the Olympic Valley and Alpine Meadows rows together; Palisades Tahoe Village is the Olympic Valley Village & Resort row; Edgewood Lakefront is reported with the Tahoe Beach Club; Tonopalo is a fractional club, so it sits outside these numbers.
• Truckee in the town rows is Truckee outside Northstar, so the region's rows add up; Northstar has its own row.

Frequently asked questions

Is Lake Tahoe a buyer's or seller's market right now?

It's balanced overall: 4.6 months of supply at the end of September 2026. It depends on what you're buying. Houses have 3.9 months of supply, condos 6.6, and homes over $3 million about seven, which favors buyers. Tahoe Island Park, Homewood and Soda Springs & Serene Lakes still favor sellers, with under three months.

What is the median home price at Lake Tahoe?

$989,500 for the 258 homes sold across the basin and Truckee in September 2026, and $1,030,000 over the past 12 months. By region: Incline Village and Crystal Bay $1.72M, Truckee, Northstar and Olympic Valley $1.27M, the North and West Shore $1.03M, and the South Shore $688K.

How long does it take to sell a house at Lake Tahoe?

A median 53 days in September 2026. Truckee outside the private golf clubs was fastest at 24 days. Incline Village took 81 days and South Lake Tahoe 63.

Are Lake Tahoe home prices going down?

Not across the lake. Over the past 12 months the median sale price is up 4% and the median price per square foot is up 1%. Parts of the California North Shore are down per square foot, including Kings Beach (−11%) and Carnelian Bay (−13%), while Incline Village is up 5%.

How far below asking do Lake Tahoe homes sell?

The median home sold in September 2026 closed at 95.3% of its first list price, and 48% sold for 5% or more below it. Homes that sold within two weeks got 100.0%; homes on the market more than four months got 88.8%.

Murat Gocmen and Kristina Mattson of Real Estate Tahoe publish this update every month from the MLS. The quarterly Lake Tahoe market report compares whole quarters, and every neighborhood page carries its own live listings and recent sales. Thinking about selling? Start with a free home valuation.