Published October 25, 2026 in Market Update

Zephyr Cove is moving with less supply and more deals in contract

These numbers cover the three months ending August 31, 2026. That is the period to keep in mind as you read.

The Real Estate Data Aggregator counted just 26 homes for sale in ZIP 89448 (Zephyr Cove) during that period. That is down 36.6% from the same months in 2025. Fewer choices, same buyers.

The Real Estate Data Aggregator put months of supply at 2.7 in 89448. That is down 7 full months from a year before. For sellers, that shift is the whole story.

Meanwhile, Realtor.com reported 1.16 million active listings nationally in September 2026. Zephyr Cove is not that market.

Pending sales are up sharply

The Real Estate Data Aggregator counted 27 pending sales in 89448. That is up 50% from the same period last year. More homes are going under contract, even as inventory fell.

Price is up, but buyers are not paying over ask

The Real Estate Data Aggregator put the median sale price in 89448 at $1,907,500. That is up 37.4% from a year before. But only 3.3% of homes sold above list price, down 19.8 points from last year.

Sellers are getting more for their homes in dollar terms. They are not getting bidding wars. The average sale came in at 94.5% of list price, down 2.1 points from a year ago.

That gap matters. Price the home right and it sells. Price it high and buyers in this market will wait.

The Real Estate Data Aggregator found a median of 88 days on market in 89448. That is 34 days longer than the same period last year. Sales are happening, but patience is still part of the deal.

The Real Estate Data Aggregator also shows that 14.8% of homes in 89448 went under contract within two weeks of listing. That share is down 7.4 points from a year ago. Quick contracts are less common than they were.

How Zephyr Cove compares with its neighbors

This market covers three ZIP codes. The numbers look different depending on where you are.

Glenbrook (89413) has the highest prices and the fastest days on market at 56 days. But it also has 11.7 months of supply and only 5 homes sold. Small numbers move big percentages there.

Stateline (89449) sits in the middle. The Real Estate Data Aggregator counted 35 homes sold, a median price of $1,150,000, and 6.3 months of supply. Prices there rose 19.2% from a year before.

Across all three ZIPs together, the Real Estate Data Aggregator counted 70 homes sold, 117 for sale, 93 new listings, and 62 pending sales in the three months ending August 31, 2026.

The wider picture

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. That affects what buyers can spend.

Realtor.com also found that 20.8% of listings nationally took a price cut in September 2026. That is the highest share since October 2022. Zephyr Cove is not immune to that pressure if a home is overpriced.

The Federal Housing Finance Agency reported that U.S. house prices rose 2.6% from July 2025 to July 2026. Zephyr Cove's 37.4% median price gain runs well ahead of that national pace.

One street can read very differently from the whole ZIP code. The numbers above are a starting point, not a final answer for your specific home or block.