Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011
The Dollar Point neighborhood of Tahoe City is located approximately three (3) miles east of downtown Tahoe City on the North Shore of Lake Tahoe, California.
The Dollar Point neighborhood is a premium lakeside neighborhood location, for many reasons. It’s close proximity to Lake Tahoe recreational activities – boating, hiking, biking, tennis, golf, skiing, shopping, and restaurants.
The Dollar Point area is known for its easy year-around access, the larger lot sizes, and the nice wide streets. It’s an easy neighborhood to get to on a year-around basis, and vacation rentals in the area are very desirable.
This desirable area is sought after because of the Dollar Point optional home owners’ amenities, which include a seasonal swimming pool, tennis courts, gated private beach area, shared pier, and buoy rental option for members.
The Dollar Point neighborhood of Tahoe City, California has a few smaller, older Tahoe cabins, along with a nice mix of larger, newer, luxury mountain homes. Dollar Point has approximately 569 parcels, of which, 39 are lakefront properties, and roughly 40% of the homes in this subdivision have some sort of view of Lake Tahoe, making this a highly desirable area on the North Shore of Lake Tahoe, California.
Dollar Point, Tahoe City, North Shore, Lake Tahoe, California – Sold Single Family Homes:
In the Dollar Point area, mountain home and cabin prices were down – 37% this year. What was interesting was while prices were down, the number of sales in this neighborhood were also down dropping -43% when compared to 2010 volume levels. We had expected to see an increase in the number of sales with such a large price correction.
Cash sale transactions for Dollar Point homes are down from the 50% rate in 2010 dropping to 38% this year, which was close to the Tahoe-Truckee regional average of 35%.
The current absorption rate for this neighborhood is at 22.5 months. Anything above 7 months of inventory is considered a Buyer’s Market. The first step to turning a neighborhood around from a declining market is to balance the inventory.
There were 15 Active – available homes for sale in the Dollar Point neighborhood of Tahoe City, North Shore, Lake Tahoe area as of 01/19/2012. Home prices ranged from $597,500 to $3.5 million. Of the 15 homes offered for sale there are were no REO listings, or short sales. As of 01/19/2012 there were two pending sales in Dollar Point, ranging in price from $695,000 to $699,900. One is a standard sale and one is an REO/Bank Foreclosure.
See all Dollar Point, Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.
See all Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.
See all North Shore, Lake Tahoe, California lakefronts, mountain homes and cabins that are for sale here.
Dollar Point, Tahoe City, North Shore, Lake Tahoe, California,
Real Estate Summary for Sold Single Family Homes
Year |
Homes Sold |
Median Average Sales Price |
Lowest Price Sold |
Highest Price Sold |
% Cash Transactions |
Absorption Rate < 5 months Sellers Mkt 5-7 months balanced >7 months Buyers’ Mkt
|
% Distressed Sales |
Breakdown of distressed Sales |
2011* |
8 |
$657,000 |
$519,000 |
$3,040,050 1 Lakefront |
38% |
22.5 months Buyers’ Market |
13% |
1 REO’s 0 Short Sales |
2010 |
14 |
$1,044,000 |
$517,000 |
$3,200,000 1 Lakefront |
50% |
NA |
7% |
0 REO’s 1 Short Sale |
2009 |
14 |
$747,000 |
$528,000 |
$2,700,000 0 Lakefront |
36% |
NA |
7% |
0 REO’s 1 Short Sale |
2008 |
9 |
$1,350,000 |
$743,000 |
$1,740,000 0 Lakefront |
33% |
NA |
0% |
0 REO’s 0 Short Sales |
2007 |
14 |
$1,300,000 |
$749,000 |
$5,250,000 0 Lakefront |
21% |
NA |
0% |
0 REO’s 0 Short Sales |
2006 |
17 |
$1,200,000 |
$878,750 |
$4,500,000 1 Lakefront |
24% |
NA |
0% |
0 REO’s 0 Short Sales |
*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.
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.
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
All information is deemed reliable, but is subject to change, and/or correction without notice.
Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011