McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011
The McKinney Shores neighborhood of Homewood, California is located approximately 7 miles south of Tahoe City on the West Shore of Lake Tahoe.
The McKinney Shores area is a very small, West Shore neighborhood that is located between the Homewood Ski Resort area and Chambers Landing. There are approximately 117 lots in this area. This West Shore neighborhood is close to Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants.
The McKinney Shores neighborhood is a mix of larger, newer luxury mountain homes, along with smaller, older Tahoe cabins. There are a limited number of lakefronts and split lakefront properties in this neighborhood.
Most of the owners in the McKinney Shores neighborhood are members in the local home owners group that is very desirable with its own gated beach area, shared pier, and buoys, located directly off Highway 89 South. This vacation-resort, second home neighborhood has nice wide streets, a good mountain feel to it, and when it snows, home owners really know that they are living near a ski resort area on the West Shore.
Sold Single Family Homes in the McKinney Shores neighborhood West Shore, Lake Tahoe, California:
In the McKinney Shores area, home and cabin prices are up +3% this year, with the average median sales price at $850,000. This is a small neighborhood, with just a few sales each year. This is a positive sign that some of our higher-end neighborhood may have put in a bottom.
Cash sale transactions for the McKinney Shores, Homewood area have moved up to 33%, which is following the Tahoe-Truckee regional rate of 35%.
The current absorption rate for this neighborhood is not available since there are no homes currently listed for sale in this area.
Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 33% of the sales in 2011. With only 3 sales, the numbers become distorted. What is interesting about the distressed sales in this neighborhood are there have been Bank Foreclosures/REO sales in 2011, 2010, and 2009 which does have a negative impact on all sellers and their pricing.
Currently, there are no homes listed for sale in the McKinney Shores, Homewood, West Shore, Lake Tahoe, California area as of 01/22/2012. This is not unusual as this is a very small neighborhood that is very desirable and properties tend to sell quickly in this neighborhood when they are available. There are also no pending sales in the McKinney Shores, Homewood area as of 01/22/2012.
See all McKinney Shores, Homewood split lakefronts, mountain homes, and cabins for sale here.
While there are no homes, or cabins currently for sale today, if you want to know when new listings come on the market, call me – Laura Allen 530.414.1260 and I’ll make sure you are notified when the next new McKinney Shores home comes on the market.
See all Homewood, California lakefronts, homes, and cabins for sale here.
See all West Shore, California, Lake Tahoe, lakefronts, homes, and cabins for sale here.
McKinney Shores, Homewood, West 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 |
Absorption Rate < 5 months Sellers Mkt 5-7 months balanced Mkt >7 months Buyer’s Mkt |
% Distressed Sales |
Breakdown of distressed Sales |
|
2011* |
3 |
$850,000 |
$680,000 |
$1,074,000 0 Split Lakefronts 0 Lakefronts |
33.3% |
NA – Not Available since there are no homes listed for sale in McKinney Shores as of the date of this Report |
33.3% |
1 REO’s 0 Short Sales |
|
2010 |
6 |
$825,000 |
$575,000 |
$6,000,000 2 Split Lakefront 1 Lakefront |
33.3% |
NA |
16.7% |
1 REO’s 0 Short Sales |
|
2009 |
1 |
$409,000 |
$409,000 |
$409,000 0 Split Lakefront 0 Lakefront |
100% |
NA |
100% |
1 REO’s 0 Short Sales |
|
2008 |
0 |
NA |
NA |
NA |
NA |
NA |
NA |
0 REO’s 0 Short Sales |
|
2007 |
3 |
$1,200,000 |
$880,000 |
$2,350,000 0 Split Lakefront 0 Lakefront |
33.3% |
NA |
0% |
0 REO’s 0 Short Sales |
|
2006 |
3 |
$985,000 |
$899,500 |
$1,525,000 0 Split Lakefront 0 Lakefront |
33.3% |
NA |
0% |
0 REO’s 0 Short Sales |
*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.
Use caution when only a handful of sales are available in a neighborhood. The increase and decrease in the percent changes can be significant. 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 a small group of 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.
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.
McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011
