Homewood Home Values | Market Report – Year End 2019

Here is the year-end 2019 single-family home market data for the Homewood, CA 96141 area.

The Homewood real estate market conditions continue to be steady and strong.  

Inventory levels of available homes for sale in the Homewood community remain critically low for all price points, not just at the lower-entry levels.

On January 1, 2020, there were only five (5) active homes for sale.

Here are the current Homewood homes for sale, all price points, as of the day you are reading this information:

Need help as a Tahoe Buyer? Call Laura Allen,  530.414.1260, for help!

Single-family home prices move up significantly in 2019.

You can see on the graph below that the over-all Homewood home price trend for the average median home sold sales price move up in 2019.  

Homewood single-family home prices were up in 2019, with a median average sales price of $950,000, which is a new market high and has surpassed the market highs realized in 2006 and 2007.

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 2019, Sellers realized approximately 99.3% of the average listed median home sales price to the average sold median listed sales price in the greater Homewood area.  

This is slightly lower than the over-all region, which was at 98.5%. 

If Sellers have correctly priced their property, they will get close to their asking price. 

Real Estate Market Homes Sold Data for the Homewood Area:

Year-End 2019: YTD Period:  01-01-2019 to 12-31-2019

• Number of Homes Sold: 28
• Median Average Sold Sales Price: $950,000
• Average Sold Sales Price: $1,714,664
• Sold Price Range (Low-High):  $499,000 to $16,400,000
• Percent (%) Avg. List Price to Avg. Med. Sold Price Ratio:  99.3%
• Average Days on Market (DOM in MLS):  102 DOM
• Number of Distressed Sold Homes:  Zero  (0) listings
  • Zero (0) Court Approval
  • Zero (0) Short Sales
  • Zero (0) REO|Bank Foreclosures

Other interesting Homewood single-family home market observations:

Days on Market (DOM) increased significantly from 54 days on market in 2018 to 102 days on the market in 2019.

This increase in the number of days on the market is well above the regional average of only 67 days.

I don’t have a good reason why the number of days on market moved up so significantly when the average median home sales price also moved up significantly (not down), and set new market highs for the area.

Typically the shorter the marketing time for a home, the stronger the market is for Sellers, and when those numbers increase it normally signals that the market has become soft for Sellers, but with the sold sales pricing moving up, and not down, this correlation may not be true for last year for this area.

Inventory – Current inventory levels are critically low.  This is a sign that the market is favoring Sellers. 

Search Homewood homes for sale by neighborhoods here:

• Homes for Sale near Homewood Ski Resort
• Chamberlands Homes for Sale, Homewood, CA
• McKinney Shores Homes for Sale, Homewood, CA
• Skyland Homes for Sale, Homewood, CA
• Tahoe Pines Homes for Sale, Homewood, CA
• Tahoe Swiss Village Homes for Sale, Homewood CA
• Homewood Waterfront Homes for Sale
• Homewood Lakefront Homes for Sale

Lower Number of Sales – The number of sales in 2019 dropped, which often happens as prices increase.

Looking for help as a Tahoe Seller?  If you already own a home in the Tahoe area and want to know what is your Homewood property is now worth?

Call Laura Allen,  530.414.1260, for a confidential consultation.

Tahoe Home Buyers should do the following:

• Look at newly listed properties as soon as possible.  Don’t wait.  
• Be prepared to write an offer right away.  Time will work against you with new listings.
• Use a Buyers’ Agent.  Work with an experienced local Tahoe Real Estate Agent.  They understand the market conditions, and how other agents work and may respond.  
• Do you have your loan approval letter?  If you will need a loan, make sure your lender has approved you.   
• If you are buying a condo or townhome in the area, make sure you are using a local lender.  Using a local lender that has recently processed a loan in the complex you want to buy in will do two things for you. 
  • First, you will have the confidence that the lender has already reviewed their HOA docs and previously approved the development, which will increase your odds of the same outcome. 
  • Second, Sellers that know you have selected a lender with this experience will give you extra credit for knowing your lender is ready to go on their property.

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 have 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. 

Homewood Sold Single Family Homes   01/01/2019 – 12/31/2019  (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
2019*	28	$950,000	$1,714,664	102	$499,000	$16,400,000 1Lakefronts	43%	0%	0 REO’s 0 Short Sales
2018	36	$809,500	$1,348,141	54	$434,000	$7,000,000 3 Lakefronts	44%	0%	0 REO’s 0 Short Sales
2017	44	$628,000	$861,069	78	$361,300	$6,000,000 1 Lakefronts	39%	0%	0 REO’s 0 Short Sales
2016	39	$679,000	$1,158,014	134	$326,000	$11,000,000 3 Lakefronts	36%	0%	0 REO’s 0 Short Sales
2015	45	$620,000	$1,235,056	132	$230,000	$9,950,000 5 Lakefronts	38%	4.4%	0 REO’s 1 Short Sales 1 Court Approval
2014	28	$637,500	$1,136,454	114	$390,500	$3,400,000 5 Lakefronts	54%	0%	0 REO’s 0 Short Sales
2013	31	$605,000	$973,580	67	$280,000	$5,000,000 3 Lakefronts	29%	9.7%	0 REO’s 2 Short Sales 1 Court Approval
2012	34	$495,000	$841,411	114	$202,000	$4,350,000 3 Lakefronts	27%	6%	0 REO’s 2 Short Sales
2011	31	$495,000	$917,346	87	$295,000	$4,400,000 4 Lakefronts	32%	19%	4 REO’s 2 Short Sales
2010	30	$453,000	$885,503	107	$260,000	$6,000,000 2 Lakefronts	33%	27%	6 REO’s 2 Short Sales
2009	26	$605,000	$935,871	105	$295,000	$4,750,000 3 Lakefront	44%	19%	2 REO’s 2 Short Sales 1 Court Approval
2008	6	$621,000	$840,333	289	$515,000	$1,525,000 0 Lakefronts	17%	0%	0 REO’s 0 Short Sales
2007	19	$874,000	$1,539,961	154	$435,000	$7,000,000 3 Lakefronts	26%	0%	0 REO’s 0 Short Sales
2006	20	$830,000	$898,455	92	$465,000	$2,095,000 0 Lakefronts	15%	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 01/01/2019 – 12-31-2019.

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS). 

Year-to-date summaries are based on information from the 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.

Thinking about a high-end townhome/condominium in a lakefront complex, as an option to buying a home in Homewood? Homewood only has two (2) high-end condominium/townhouse developments:

• Fleur du Lac (only 22 units in the complex)
• Chambers Landing (only 43 units complex)

Here are the Homewood condos that are for Sale:

 

Looking to buy a Mountain home?  Want more options in addition to the Homewood area? 

Search Homes for Sale in North Lake Tahoe (North Shore of Lake Tahoe and the West Shore of Lake Tahoe) here: