Straddling the California-Nevada border, Lake Tahoe’s 72-mile shoreline is home to some of the country’s most coveted real estate. Crystal Bay, a roughly 200-home community on Nevada’s North Side, ranks among the priciest waterfront markets, with a median listing price of $14.9 million in December 2025, according to a custom analysis by Realtor.com. (Realtor.com, operated by News Corp, developed this methodology exclusively for The Wall Street Journal.) The enclave is defined by its midcentury glamour. Around the 1960s, it served as a playground for entertainer Frank Sinatra, who at one point owned the local Cal Neva resort and casino. Today, it is a tale of two realities: a town with a faded commercial strip that sits adjacent to multimillion-dollar residential real estate favored for steep-slope privacy and elite lakefront living.
The Tiny Lake Tahoe Enclave With Some of America’s Priciest Waterfront Homes
