North Lake Tahoe, CA Condo – Townhouse Real Estate Trends Year 2013

It’s that time of year to see how the North Lake Tahoe Condo and Townhouse real estate market performed in 2013.

In addition to seeing 2013 North Lake Tahoe condo and townhouse real estate market data results, there are also some current real estate market trends and data for 2014. This is my local view of how the North Shore of Lake Tahoe condo and townhouse community is really doing in the housing market.

The North Lake Tahoe area is defined as beginning at Fanny Bridge in Tahoe City, also known as the “Y” and moving east along the North Shore of Lake Tahoe (Highway 28) and ending at the Nevada Stateline in Crystal Bay.

This area covers just over eleven (11 miles and this report is for condo/townhouse developments that are located in North Lake Tahoe – Tahoe City (North Shore), Carnelian Bay, Tahoe Vista and Kings Beach, CA.

Many Tahoe condo buyers may not realize how restricted the over-all supply of condo, or townhouse units are on the entire North Lake Tahoe area.

Currently there are twenty-two (22) condominium and/or townhouse developments on the entire North Shore of Lake Tahoe, California, with an estimate of less than 1,000 individual units.

While the number of developments is more than double the ten (10) developments located along the West Shore of Lake Tahoe, the over-all supply of condo and townhouse units available for ownership is also very limited compared to other locations around Lake Tahoe and Truckee resulting in a market premium for similar properties in the area.

In those twenty-two (22) condo/townhouse developments, fourteen (14) are lakefront developments, one (1) is a mountain-side and lakefront amenity development, two (2) is a lakeside developments, and five (5) are mountain-side developments.

It is estimated from Placer County records that approximately 538 condo and townhouse developments were built on the entire North Shore of Lake Tahoe. Of those units, there are approximately 348 units located in lakefront developments, and 190 units in mountain-side non-lakefront developments.

At any one given time, you can expect the current supply of condos or townhouses for sale on North Lake Tahoe to be extremely limited. It isn’t uncommon for less than a fifty units to be listed for sale and on the market at any one given time.

The average sales price for 2013 was $305,000, which is a 32.6% increase over the average sale price of $230,000 for 2012. This price increase follows the over-all market trend for the area, which is positive and reflects the reduction of distressed sales on the North Shore!

Current Real Estate Inventory for Condos and Townhomes on North Lake Tahoe, California for the year 2013 – Whole Ownership, not Fractional Ownership

West Lake Tahoe Condo and Townhouses Available for Sale as of 02-11-2014:

27 Condos and Townhouses are currently listed for sale – Standard Sale

0 Condos and Townhouses are currently listed for sale – Short Sale

1 Condos and Townhouses are currently listed for sale – Bank owned/foreclosed – REO (Real Estate Owned)

0 Condos and Townhouses are currently listed for sale – Court Approval

$79,000 to $1,850,000 is the Price Range of Condos and Townhouses listed for sale

$649,000 Average Median Listed Sales Price for Condo and Townhouses Currently on the Market for Sale

$695,940 Average Listed Sales Price for Condo and Townhouses Currently on the Market for Sale

184 DOM (Days on Market) for Condo and Townhouses on the Market for Sale

North Lake Tahoe Condo and Townhouse Pending Sales as of 02-11-2014

3 Condo and Townhouse Pending Sale – (Under Contract and in Escrow)

$139,000 – $399,000 – Price Range of Condo and Townhouses listed for sale

$240,000 – Average Median Listed Sales Price for Condo and Townhouse – Pending Sales

$259,333 – Average Listed Sales Price for Condo and Townhouse – Pending Sales

48 DOM (Days on Market) for Condos and Townhouses on the Market for Sale

North Lake Tahoe Condos and Townhouses Sold for 2013 (01/01/2013 – 12/31/2013)

74 Condo and Townhouse Sold in 2013

$102,850 – $1,595,000 is the Price Range of Condos and Townhouses Sold in 2013

$305,000 Average Median Sold Sales Price for Condos and Townhouse – Sold (95.6% of List/Sold Price)

$434,099 Average Sales Price Sold for Condos and Townhouses – Sold (93.4% of List/Sold Price)

156 DOM (Days on Market) for Condo and Townhouses on the Market for Sale

33.8% were Cash Sales or 1 out of every 3 Condos or Townhouses sold was a cash buyer

North Lake Tahoe Condominium or Townhouse Developments		Check to See if Any Units Are For sale Here	2013 # Units Sold	2012 # Units Sold	2011 # Units Sold	2010 #Units Sold
Total Units Sold			74*	81*	55*	50*
Brockway Shores, Kings Beach, CA	Lakefront Development	Condos for Sale Brockway Shores	1	0	0	0
Brockway Springs, Kings Beach, CA	Lakefront Development	Condos for Sale Brockway Springs	2	4	1	1
Carnelian Woods, Carnelian Bay, CA	Mountain-side Development	Condos for Sale Carnelian Woods	10	10	2	0
Chateau Chamonix, Kings Beach/Tahoe Vista, CA	Mountain-side Development	Condos for Sale Chateau Chamonix	3	1	2	2
Chinquapin, Tahoe City, CA	Lakeside Development	Condos for Sale Chinquapin	8	5	3	6
Dollar Hill I, Tahoe City, CA	Mountain-side Development	Condos for Sale Dollar Hill I	1	1	0	0
Dollar Hill II, Tahoe City, CA	Mountain-side Development	Condos for Sale Dollar Hill II	4	2	4	1
Heratage Cove, Tahoe Vista, CA	Lakefront Development	Condos for Sale Heratage Cove	3	1	1	0
Kings Run, Kings Beach/Tahoe Vista, CA	Mountain-side Development	Condos for Sale Kings Run	2	10	7	2
Kingswood Village, Kings Beach, CA	Mountain-side Development	Condos for Sale Kingswood Village	10	15	12	9
Lake Forest Glen, Tahoe City, CA	Lake-side (non-lakefront) Development	Condos for Sale Lake Forest Glen	12	3	9	8
The Northshore, Tahoe City, CA	Lakefront Development	Condos for Sale The Northshore	3	1	0	0
Rocky Ridge, Tahoe City, CA	Mountain-side and Lakefront Development	Condos for Sale Rocky Ridge	3	3	3	2
Lakeside Terrace & Sierra Terrace, Tahoe City, CA	Lakefront Development	Condos for Sale Lakeside Terrace and Sierra Terrace	0	1	0	0
St. Francis, Tahoe City, CA	Lakefront Development	Condos for Sale St. Francis	3	5	3	3
Star Harbor, Tahoe City, CA	Lakefront Development	Condos for Sale Star Harbor	4	2	0	0
Sweetbriar, Kings Beach, CA Fractional Ownership	Lakefront Development	Condos Shares for Sale Sweetbriar	2	1	2	1
Tahoe Marina, Tahoe City, CA	Lakefront Development	Condos for Sale Tahoe Marina	1	3	0	2
Tahoya Shores, Kings Beach/Tahoe Vista, CA	Lakefront Development	Condos for Sale Tahoya Shores	0	3	2	3
The Franciscan, Tahoe Vista, CA	Lakefront Development	Condos for Sale The Franciscan	0	3	0	1
Tonopalo, Tahoe Vista, CA Fractional Ownership	Lakefront Development	Condos Shares for Sale Tonopalo	8	4	8	10
The Villas, Tahoe City, CA	Mountain-side Development	Condos for Sale The Villas	4	7	2	4

* Does not include fractional shares sold at Kingswood Village, Tonopalo, or Sweetbriar, and does not include whole unit sales on Rainbow, Trout, Grey, or Sweetbriar.

All of the North Lake Tahoe Condo and Townhouse data comes from the Tahoe Sierra Board of REALTORS® data base and is subject to change and/or correction without notice.

The North Lake Tahoe real estate market conditions are local. Talk to a local Tahoe real estate agent / Tahoe REALTOR® to get the most up-to-date neighborhood and market conditions if you are considering buying, or selling.

Want to see what condos are for sale in Lake Tahoe? Here are the current listings:

Thinking about making Lake Tahoe, California your second home? Check out the homes that are for sale here:

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.

North Lake Tahoe, CA Condo – Townhouse Real Estate Trends Year 2013