Agate Bay, Carnelian Bay, North Shore, Lake Tahoe, California Real Estate Market Report – November 2011
The Agate Bay neighborhood of Carnelian Bay, California is located approximately 6 miles east of Tahoe City in the heart of the North Shore of Lake Tahoe. 
The Agate Bay area is a nice, developed, North Shore neighborhood that is between the commercial core of Carnelian Bay and Tahoe Vista. Centrally located, this North Shore neighborhood is close to Kings Beach and Tahoe City. Its location makes it easy to get to Northstar, Alpine Meadows, Squaw Valley, or Homewood Ski resorts. It is close to all of the Lake Tahoe recreational activities such as boating, hiking, biking, tennis, golf, miniature golf, skiing, shopping, and restaurants.
The Agate Bay neighborhood is a mix of some smaller, older, Tahoe cabins, along with larger, newer luxury mountain homes. There are a limited number of lakefront properties in this neighborhood, but they to get classified as “Carnelian Bay”, rather than Agate Bay, so they will all be included in the Carnelian Bay market report.
The Agate Bay community is very popular with second home owners. It has nice wide streets, and is easy to get to on a year-around basis making it a popular vacation rental location for summer and winter rentals.
Some of the owners in the Agate Bay neighborhood are members in the local home owners group Agate Pier and Swim Club that is very desirable with its own swimming pool, tennis courts, gated beach area, pier, and buoy rental option. The Agate Club membership is currently limited, and property owners that belong often get a market premium for their property, as this club membership is limited by geography and membership is typically gained by buying a property that is already an existing member and transferring the membership from one property owner to the next.
Sold Single Family Homes in the
Agate Bay neighborhood of Carnelian Bay, North Shore, Lake Tahoe, California:
In the Agate Bay area, mountain home and cabin prices are down, -9% this year, with the average median sales price at $350,000.
Cash sale transactions for the Agate Bay area declined to only 8%, which is well below the Tahoe-Truckee region of 34%. This means that buyers are finding conventional financing easier to get.
The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) doubled to 38% for 2011. This means mountain homes and cabins that were priced right, sold quickly.
Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 46%, or almost half of all Agate Bay sales in 2010, which is a rise of 15% over 2010. The increase in distress sales is the single largest contributing factor to the continued decline in price.
There were 13 Active – available homes for sale in the Agate Bay, Carnelian Bay, North Shore, Lake Tahoe, California area as of 11/01/2011. Agate Bay lakefronts, mountain homes and cabins ranged in price from $175,000 to $10.5 million. Of the 13 homes offered for sale 5 homes were lakefronts and 8 were non-lakefront properties; none were REO listings, but 3 are short sale listings. There are no pending sales in the Agate Bay, Carnelian Bay, North Shore, Lake Tahoe area as of 11/01/2011.
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Agate Bay, Carnelian Bay, North Shore, Lake Tahoe, California, Real Estate Summary
Sold Single Family Homes
|
Year |
Homes Sold |
Median Average Sales Price |
Lowest Price Sold |
Highest Price Sold |
% Cash Transactions |
Homes into escrow with in 30 days of being listed in TSMLS |
%Distressed Sales |
Breakdown of distressed Sales |
|
2011* |
13 |
$350,000 |
$205,000 |
$800,000 0 Lakefront |
8% |
38%
|
46% |
4 REO’s 2 Short Sales |
|
2010 |
13 |
$384,000 |
$265,000 |
$2,850,000 1 Lakefront |
36% |
15% Almost 1 out of every 6.5 |
31% |
3 REO’s 1 Short Sale |
*YTD period is 01/01/2011 – 11/01/2011. Data Source:Tahoe Sierra Multiple Listing Service.
Use caution when only a handful of sales are available in a neighborhood. Numbers are easily moved in either direction depending on the combination of homes sold. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just the neighborhood sales.
Note:Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS). Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.
Ready to make the Carnelian Bay area your second home? Check out what is for sale here:
- Carnelian Bay Homes for Sale
- Carnelian Bay Condos for Sale
- Agate Bay Homes for Sale
- Lake Tahoe Lakefront Homes for Sale
- North Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Homes for Sale
- Lake Tahoe Condos for Sale
For all of your Tahoe real estate needs –
Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304
