2025 Year End Lake Tahoe Market Report

The North Lake Tahoe and Truckee real estate markets continue to remain strong. A steady increase in listings has offered buyers more choices. Homes that are priced realistically to match the market are currently selling at an average of 75 days on market.

The 4^th Quarter is traditionally considered a ‘shoulder season,’ preceding higher ski season demand. However, October had 136 sales, bringing the 2025 yearly total to over 1000 sales – exceeding sales numbers for the prior year. November added another 139 sales, with activity strongest in the luxury market.

Market Transition

November 2025 brought the North Lake Tahoe real estate into a transition, demonstrating signs of moderation and the normal seasonal slowdown. While the market experienced increased inventory, demand remains strong, especially for high-end properties.

Median list prices were up year-over-year in some areas of North Lake Tahoe and Truckee ($1.1M) and Incline Village/Crystal Bay ($2.5M), though properties are taking slightly longer to sell. 

North Lake Tahoe and Truckee

Median listing price: $1.1 million, a 4.2% increase from November 2024.

Days on market: Averaged 75 days, which was 8 days longer than the previous November.

Homes sold: 139, a 25.2% increase compared to November 2024. 

Incline Village and Crystal Bay 

Median listing price: $2.5 million, a 14% increase from November 2024.

Days on market: Averaged 129 days, which was 7% longer than the previous year.

Homes sold: 26, a 31% decrease compared to November 2024. 

Overall Market Trends

Stabilization: After many years of rapid appreciation, the market is slowing to a more balanced pace.

Increased inventory: More homes are available compared to previous years, with some areas reaching pre-COVID inventory levels.

Realistic pricing: Buyers are more value-focused, making strategic pricing key for sellers.

Luxury market: Remains strong, driven by limited supply and ongoing demand for high-end properties.

Final Thoughts

While the median sale price in Q3 2025 was $1,875,000 for the North Shore, the percentage of transactions under $1 million was 34%. Home values remain steady, but buyers now have the opportunity to choose among more affordable properties at Lake Tahoe.

Contact us today for more information about available homes for sale in North Lake Tahoe and Truckee. We can also prepare a free property analysis of your home if you are thinking of selling.