Dollar Point Home Values | Market Report – Year End 2018
Looking for sold, year-end 2018 single family home market data for the Dollar Point neighborhood in Tahoe City?
Here is the year-end 2018 review for the Dollar Point, Tahoe City neighborhood.
The Dollar Point, Tahoe City real estate market conditions continue to be strong, and favor Sellers.
Buyers have very few buying options. On January 30, 2019 there were only 4 homes for sale in Dollar Point. As a point of reference there were only 21 homes for sale in the Tahoe City area.
Here are the current listings Dollar Point Homes for sale:
Here are the current listings Tahoe City homes for sale:
Single family home prices moved up significantly in 2018 for the entire North Lake Tahoe – Truckee region, and Dollar Point did even better.
You can see on the graph below that the over-all home sold sales price trend for the Dollar Point area has moved up with 2018, posting a new average median home sold price of $1,450,000, surpassing the 2008 average median home sold price of $1,350,000.
Depending on the mix of homes sold, the median average has bounced up and down, so we’ve looked at a more general trend line, rather than from year-to-year.
The Tahoe City single family home prices were up for 2018, with a median average sales price of $1,450,000, which was well above the Tahoe City median home sold average of 825,000.
A common question I am often asked by Buyers and Sellers is:
- “What percentage of the listed price are Sellers getting on their Tahoe property?”
In 2018, the list to sold price ratio was 100% of the their listed median average sales price to the sold average median sales price in the Dollar Point neighborhood.
This does not mean every Dollar Point home seller received 100% of their asking price.
It does mean there were enough home sales that sold above their listed price to off-set those listings that sold below their asking prices to average out 100%.
This is higher than the over-all North Lake Tahoe -Truckee region, which was slightly lower at 98.9%.
In every day terms, this means if Sellers have priced their property correctly for its features, location, and condition they are doing very well with these market conditions.
This also means Tahoe Buyers that want to low-ball, or be really aggressive on their offered price are going to have a hard time in the this market.
Real Estate Market Homes Sold Activity for the Dollar Point Area: Year-End 2018 YTD | Period: 01-01-2018 to 12-31-2018
- Number of Homes Sold in Dollar Point: 29
- Median Average Sold Sales Price for Dollar Point: $1,450,000
- Average Sold Sales Price in Dollar Point: $1,619,024
- Sold Price Range in Dollar Point: $720,000 to $5,050,000
- Percent (%) List to Sold Price Ratio: 100%
- Average Days on Market (DOM in MLS): 40 DOM
- Number of Active and Available Homes for Sale in Dollar Point as of 01-30-2019: 4
- Pending Home Sales in Dollar Point as of 01-30-2019: 0
- Number of Distressed Available Listing – As of 01-30-2019: Zero (0) listings: Zero (0) Court Approval, Zero (0) Short Sale, Zero (0) REO|Bank Foreclosures
Other interesting Dollar Pointy single family home market observations:
Days on Market (DOM) increased. For 2018 the number of days on the market for single family homes is now at 40 days, which is up 6 day from the 34 days on market in 2017, but is down 64% from the 110 DOM in 2016.
The shorter the marketing time for a home, the stronger the market is for Sellers.
Inventory – Current inventory levels are critically low. Again, another sign of the market favoring Sellers.
High Number of Sales – The total number of sales in the Dollar Point neighborhood was significantly higher in 2018 over 2017.
In 2018 there were 29 home sales compared to only 18 home sale in 2017.
Dollar Point home sales made up almost 26% of the total number of homes sold in the greater Tahoe City, CA area.
Home sales data in the greater Tahoe area is limited, and often small for neighborhoods, so I always encourage home and condo buyers and sellers to review the largest data set, and look at those trends for the area for more market insight.
It is easy to move averages up, or down so take a look at the the entire North Lake Tahoe – Truckee Region to confirm smaller neighborhood trends. North Lake Tahoe – Truckee Home Values | Market Report – Year End 2018
If you already own a home in the Tahoe area and you are asking yourself “what is my Dollar Point home is worth?” Call me call Laura Allen, 530.414.1260, for a confidential consultation, or click on the following link to get more options:
Here are some Quick Tahoe Home Buyer Tips:
- Act Fast | See new listings as soon as possible. Don’t wait for the weekend to see a property. driving up the next day to see the property and not wait until the weekend.
- Decide Immediately | After you have seen the property decide if you are going to write an offer and do it quickly. Don’t wait.
- Tahoe Buyers’ Agent | Have your own Tahoe Buyers’ Agent – you need your own advocate and independent advice.
- Loan Approval | Need a loan, use a local loan lender that your agent uses and recommends. Be approved, and ready to go.
If you want more long-term real estate data, check out the following table that has a lot of data going back over ten years.
I’ve included both the average median sales price and average sales price (in some cases there is a significant difference between the two, but the trends are the same direction for both) are included for each year in the following table.
Dollar Point Sold Single Family Homes | Year-End 2018 01/01 – 12/31/2018 (This table is best viewed on a laptop, desktop, or a device with a larger screen.)
|Year||Homes Sold||Median Average Sales Price||Average Sales Price||DOM Days On Market||Lowest Price Sold||Highest Price Sold||% Cash Transactions||% Distressed Sales||Breakdown of distressed Sales|
|2018*||29||$1,450,000||$1,1,619,024||40||$720,000||$5,050,000 0 Lakefronts||50%||0%||0 REO’s 0 Short Sales|
|2017||18||$937,500||$1,052,444||34||$730,000||$1,700,000 0 Lakefronts||50%||5.5%||1 REO’s 0 Short Sales|
|2016||23||$1,020,000||$1,214,386||110||$686,000||$3,600,000 0 Lakefronts||35%||0%||0 REO’s 0 Short Sales|
|2015||20||$913,250||$1,471,998||98||$432,750||$8,199,000 1 Lakefront||35%||0%||0 REO’s 0 Short Sales|
|2014||15||$1,220,366||$1,775,366||76||$550,000||$5,800,000 1 Lakefront||47%||0%||0 REO’s 0 Short Sales|
|2013||15||$785,000||$924,900||65||$580,000||$2,200,000 0 Lakefronts||33%||0%||0 REO’s 0 Short Sales|
|2012||23||$855,000||$1,251,080||188||$456,210||$4,250,000 2 Lakefronts||44%||4.3%||1 REO’s 0 Short Sales|
|2011||8||$657,000||$1,004,756||187||$519,000||$3,040,050 1 Lakefront||38%||13%||1 REO’s 0 Short Sales|
|2010||14||$1,044,000||$1,260,500||129||$517,000||$3,200,000 1 Lakefront||50%||7%||0 REO’s 1 Short Sale|
|2009||14||$747,000||$1,006,053||161||$528,000||$2,700,000 0 Lakefronts||36%||7%||0 REO’s 1 Short Sale|
|2008||9||$1,350,000||$1,250,611||89||$743,000||$1,740,000 0 Lakefronts||33%||0%||0 REO’s 0 Short Sales|
|2007||14||$1,300,000||$1,862,285||114||$749,000||$5,250,000 0 Lakefronts||21%||0%||0 REO’s 0 Short Sales|
|2006||17||$1,200,000||$1,705,884||68||$878,750||$4,500,000 1 Lakefront||24%||0%||0 REO’s 0 Short Sales|
REO’s = Real Estate Owned, which is the name banks use for their bank foreclosed properties.
Short Sales = Owner does not have the money to pay off all of the debt and asks the debt holders to take less back in order to close the sale.
*YTD period is 01/01/2018 – 12-31-2018.
Data Source: Tahoe Sierra Multiple Listing Service (TSMLS). 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 TSMLS’s may not reflect all real estate activity in the market.
All information is deemed to be reliable, but is subject to change, modification, and/or correction without prior notice.
If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation. Looking to buy?
Want more some quick Dollar Point Property Searches?
- Dollar Point Homes for Sale under $1 million
- Dollar Point Homes for Sale under $2 million
- Dollar Point Lakefront Homes for Sale
- Luxury Homes for Sale in Dollar Point, Tahoe City
- Lake View Homes for Sale in Dollar Point, Tahoe City
- New, Newer Construction Homes for Sale in Tahoe City
- Lots and Land for Sale in Dollar Point, Tahoe City
Need more Lake Tahoe Home buying options?
Search Homes for Sale in North Lake Tahoe here:
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