Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – December 2011 - Lake Tahoe

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – December 2011

The Meeks Bay, California area starts approximately 11 miles south of the “Y” in Tahoe City on the West Shore of Lake Tahoe.

The Meeks Bay area is a small, West Shore community that is next to Rubicon Bay, California. This neighborhood overlooks both the Meeks Bay and the Rubicon Bay areas of Lake Tahoe.Meeks Bay is known for their lakefront homes with their white sandy beaches and those amazing blues, teal, and green colors that make Lake Tahoe so beautiful.

The Meeks Bay neighborhood is a mix of smaller, older, Tahoe cabins, along with larger, newer luxury mountain homes. This area has both lake-side and mountain-side subdivisions. One reason this area is so desirable is the number of non-lakefront, lakeside (homes located on the lakeside of California Highway 89 South) mountain homes and cabins. A lakeside location means that you are short walk to the beach without having to cross the highway. The upside for mountain homes and cabins on the mountain-side subdivisions are the stunning lake views. Most properties have access to one of the private home owner associations, or they go to the Meeks Bay Resort area for beach and pier access.

This vacation-resort, second home neighborhood is accessible on a year-around basis, even though many owners only use their places here in the summer.

Sold Single Family Homes in the Meeks Bay, California neighborhood West Shore, Lake Tahoe:

In the Meeks Bay area, mountain home and cabin prices averaged $437,500. With only 1 large lakefront estate sale occurring in 2010, it’s hard to make any real trend direction conclusions from 2011 over 2010, but comparing 2011 with 2009, there has been a -36.1% decline in single family home values in the Meeks Bay area in the past 2 years. The number of sales are up this year, over 2010, and are the same compared to 2009 sales volume levels.

Cash sale transactions for the Meeks Bay area are up over 2010, and running at the same level as 2009, which is well above the Lake Tahoe – Truckee, California regional trend of 34%.

The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) is also up over 2010, and 2009. This means the homes that sold were well-priced properties in Meeks Bay as they went into escrow quickly.

There were no distress sales (bank foreclosures- real estate owned (REO’s) and short sales) so far in 2011, which is an improvement over 2009, where 16.7% of all homes and cabins sold were REO sales in this neighborhood.

There were 12 Active – available homes, cabins, and lakefronts for sale in the Meeks Bay, California, West Shore, Lake Tahoe, area as of 12/03/2011. They ranged in price from $529,000 to $3,500,000.Of the 12 homes offered for sale none were REO, or short sale listings. There are 2 pending sales in the Meeks Bay, California area as of 12/03/2011 and they range in price from $1,000,000 to $1,595,000.Neither pending sale is an REO, or short sale property.

Meeks Bay Homes for Sale:

Meeks Bay, California 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	Homes into escrow with in 30 days of being listed in TSMLS	%Distressed Sales	Breakdown of distressed Sales
2011*	6	$437,500	$359,000	$2,400,000 2 Lakefronts	66.7%	66.7%	0%	0 REO’s 0 Short Sales
2010	1	$12,400,000	$12,400,000	$12,400,000 1 Lakefronts	0%	0%	0%	0 REO’s 0 Short Sales
2009	6	$684,500	$510,000	$1,280,000 0 Lakefronts	66.7%	33%	16.7%	1REO 0 Short Sales

*YTD period is 01/01/2011 – 11/30/2011.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.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. If you’d like a copy emailed to you, just write to Laura@TahoeLaura.com and type in the subject line “newsletter”.

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.

Thinking about making the the West Shore of Lake Tahoe your second home?

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – December 2011