Homes for Sale in Tahoe City CA | Market Update 2016
The inventory of homes available for sale in the greater Tahoe City area is very limited, so home buyers that are looking for mountain homes and cabins below $500,000 are finding themselves in multiple offer situations.
If you are a Tahoe City (Tahoe City – West Shore Lake Tahoe or Tahoe City North Shore Lake Tahoe) mountain home, cabin, or condo buyer, you need to be prepared to to act quickly on any new listing and be prepared to pay close to the listed price as the list to sales price ratio for Tahoe City home sale in 2016 is at 99.6%.
Given the current Tahoe City market conditions, if you are a Tahoe City home owner asking:
What is my home worth in Tahoe City? now is the time to find out your current market value.
Check out the current over-all market real estate data and trends as of 09-09-2016 to get a better idea of the current Tahoe City real estate market conditions.
Real Estate Market Activity for Tahoe City as of 09-15-2016:
- Number of Homes Sold in Tahoe City – Jan-Aug 2016: 73
- Median Average Sold Sales Price for 2016: $697,300
- Average Sold Sales Price for 2016: $1,179,645
- Sold Price Range for 2016: $345,000 – $7,103,000
- Average Sold Sales Price to Sold Average List Price Ratio for 2016 in Tahoe City: 99.6%
- Average Days on Market (DOM) in Tahoe City – 2016: 90
- Number of Homes for Sale in Tahoe City as of 09-15-2016: 52
- Lakefront Homes for Sale in Tahoe City as of 09-15-2016: 6
- Pending Sales in Tahoe City 09-15-2016: 6
- Number of Distressed Sales – Court Approval, Short Sales, or REO Bank Foreclosures Homes for Sale in Tahoe City as of 09-15-2016: 0
The demand for cabins and mountain homes in the Tahoe City area has been strong. The Tahoe Park and Talmont neighborhoods (both offer the Lake Tahoe Park Home Owner Membership) represented 19.2% of all Tahoe City home sales in 2016.
Right behind the Tahoe Park and Talmont home sales is the Dollar Point neighborhoood area, which has also been very active with 16.4% of all Tahoe City home sales in 2016 . Two other neighborhoods that both came in at 6.8% of all Tahoe City home sales were the Timberland and Tahoe Tavern Heights neighborhoods.
The amazing Tahoe lifestyle, and being so close to all that the Lake Tahoe area has to offer are some of the popular reasons why home owners want to buy in the Tahoe City area!
Tahoe City, CA is a wonderful North Shore and West Shore Lake Tahoe community. If you don’t know much about the Tahoe City area, it is centrally located on both the North Shore (Hwy 28) and West Shore (Hwy 89S) so it is close to the Alpine Meadows Ski Resort, Squaw Valley Ski Resort, Homewood Ski resort, and the Northstar Ski Resort areas. Tahoe City has a charming downtown area that has a wonderful mountain village atmosphere to it with many restaurants, shops, stores, marina, and other services.
The Tahoe City area has great hiking, biking (dirt/off road and paved trails), downhill skiing/snowboarding, is near world-class cross country skiing, boating, water sports, and is a great place to just kick back and have a BBQ on your deck!
Why Instant Home Market Values are Most Likely Wrong in Tahoe City!
Buyers and Sellers should know that while instant home market values and estimates are a growing trend on the mega real estate portals and in the Tahoe area finding exact home matches is a challenge for the following reasons:
The Tahoe City area was not developed by a single home builder with thousands of similar floor models, which means each mountain home and cabin was a custom build.
Typically we automatically think of our beautiful lakefront homes as custom property, but even the small one bedroom cabins with only 600 square feet were a custom build in our area, which means the automatic value algorithms the big websites use are not accurate, and don’t provide correct values for our area.
Here are more reasons why instant home values are incorrect:
- Instant values don’t know if a home, cabin, or condo has been updated. They have no way of knowing if there are hardwood floors, solid granite counter tops, stainless steel appliances, or updated bathrooms.
- Instant values don’t know how to value lakefront property versus a split lakefront property, or lake view.
- Instant values don’t know if a home has a lake view or not, and how to value that view – peek, partial, filtered, or panoramic.
- Instant values don’t know how to value a flat lot versus a steep lot.
- Instant values don’t know to add value for access to a Lake Tahoe lakefront home owner (HOA) recreational amenities (beach, pier or buoy access), pool, or tennis courts.
- Instant values don’t know how to add value for ski-in/ski-out, mountain, or valley views.
- Instant values don’t know how to really adjust for properties that have a carport, one car garage, two car garage, or more for the Tahoe area. Our value is much more because of our winters and the additional cost to build and engineer for the snow load our structures will have to endure. Instant values also don’t know the local rules, regulations, and other restrictions that may prevent building a garage, there by making properties with a garage more valuable and desirable.
- Instant values don’t know how to adjust our California property tax values because of Prop 13 and how that skews the value system as properties are not updated with current market values each year in the State of California.
- Instant values don’t know how to adjust for arms’ length “on the market” sales transactions versus private sales, or the changing of ownership because of divorce, death, or just the simple transfer of an individual to their trusts. The value model sees these all the same and as a sale, even though the public transfer of title was an internal change and not a real sale.
- Instant values don’t know how to adjust for road noise, or the proximity of a property to busier roads in the Tahoe area.
- Instant values don’t know how to adjust for floor plan styles – standard ceiling height versus valuated ceilings, open great room versus a galley kitchen separated from the main living areas.
- Instant values don’t know how to adjust for backing up to open space versus a neighbor that hasn’t cleaned up their yard, or improved their home in years.
Local real estate data and information are key is the proper determination on current market value.our home and it is an old-school method of knowing the local inventory and knowing what has recently sold for comparison purposes.
We know that each Tahoe City property is unique and we want to make sure the Tahoe City mountain home, cabin, or condo gets all of the credit and value it deserves for all of those special features it may have. We also want to make sure we haven’t over-valued a property if it is missing features that add value.
As a Tahoe City real estate home buyer or seller you should be aware of the following:
Tahoe City homes that are selling quickly have several characteristics in common:
- Well maintained property inside and out
- Updated and/or upgraded
- Clean, uncluttered, warm and inviting
- Ready to show at all times
- Priced according to the current market conditions
What can make a Tahoe City mountain home or cabin stand-out from the rest? What are the hot-button features Tahoe Second Home Buyers are looking to find?
- Kitchen – Newer Updated/Upgraded: solid granite counter tops and stainless steel appliances
- Open Floor Plan – The open, great room concept is in demand here
- Hardwood floors in the main living areas
- Bathrooms – Newer Updated/Upgraded
- Energy Efficiency – newer windows, smart home technology, well maintained mechanics
- BMP Certificate – Tahoe Regional Planning Agency (TRPA) Best Management Practices (BMP) Work
- Fireplace – Gas Log, or Wood Burning in the living room
- Garage – Two car preferred, but one car will do (even a carport is a plus)
- Mountain – Cabin vibe
- Optional Home Owner Association (HOA) for Lake Tahoe: recreational water access and amenities – beach, pier, buoy rental option
- Backs to, or is next to open space
- Lake Views
If you’re thinking of buying a Homewood home it will be more valuable if it has any of these updates, and/or features.
When you’re ready to buy, or sell in Tahoe City call Laura Allen!
Thinking about making Tahoe City, California your second home? Check out the homes that are for sale in Tahoe City here:
Want to see what condos are for sale in Tahoe City? Here are the current listings:
- Tahoe City Homes for Sale
- Tahoe City Condos for Sale
- Tahoe City Lakefront Homes for Sale
- Lake Tahoe Lakefront Homes for Sale
- North Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Homes for Sale
For all of your Tahoe real estate needs –
All information is deemed reliable, but is subject to change, and/or correction without notice.
Homes for Sale in Tahoe City CA