Rubicon Bay, California, Real Estate Market Report – September 2012 - Lake Tahoe

Rubicon Bay, California, Real Estate Market Report – September 2012

The Rubicon Bay, California area is a small, West Lake Tahoe community that is just north of the D.L. Bliss California State Park, next door neighbors with Meeks Bay, and just south of Tahoma, California.

The Rubicon Bay neighborhood has less than 500 parcels. The Rubicon Bay community is a mix of larger, newer, luxury mountain homes along with smaller, older, more modest Tahoe cabins. The Rubicon Bay area has lakefront (waterfront), lake-side, and mountain-side homes.

The Rubicon Bay area homes are sought after for their access to Lake Tahoe, and amazing sandy beaches that you’ll find down in this area of West Lake Tahoe.

The Rubicon Bay area is a favorite for Tahoe second home owners who enjoy the Tahoe lifestyle.

Rubicon Bay Sold Single Family Homes Market Report:

In the Rubicon Bay area, home and cabin prices averaged $605,000, which is a decrease of -5% over 2011, but is an increase of 26% from 2010 price levels. This may suggest some market stabilization. The reduction in the number of distressed sellers (short sale, REO’s/bank foreclosures and court approvals) has improved, which is a positive sign for this neighborhood.

Cash sale transactions for the Rubicon Bay area are below the Tahoe – Truckee regional average of 34% at 25%.

The current absorption rate for this neighborhood is at 8 months. Anything above 7 months of inventory is considered a Buyer’s Market. The first step to turning a neighborhood around from a declining market is to balance the inventory.

There was 1 REO/bank foreclosure, and 2 short sales so far in 2012, which is a big factor in continued pricing pressure on the Rubicon Bay area.

There were 12 available homes, cabins, and lakefronts for sale in the Rubicon Bay, California area as of 09/25/2012. They ranged in price from $350,000 to $19.95 million. Of the 12 homes offered for sale, 4 are lakefront properties. Only 1 listing is a distressed sale (short sale) listing. Since the beginning of 2012 the number of distressed sellers in the Rubicon Bay area has improved from being 27% of the market to only 8%.

There are 3 pending sales in the Rubicon Bay, California area as of 09/25/2012. Pending sales prices range from $375,000 to $3.4 million. None of these sales are not distressed sellers.

Rubicon Bay, California Real Estate Market Report 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 >7 months Buyers’ Mkt	% Distressed Sales	Breakdown of distressed Sales
2012*	8	$605,000	$260,000	$3,350,000 2 Lakefronts	25%	8 Months Buyers’ Mkt	38%	1 REO’s 2 Short Sales 0 Court Approval
2011	6	$645,000	$360,000	$842,500 0 Lakefronts	33%	11 Months Buyers’ Mkt	17%	0 REO’s 0 Short Sales 1 Court Approval
2010	5	$480,000	$392,000	$7,870,000 1 Lakefronts	40%	NA	40%	2 REO’s 0 Short Sales
2009	7	$995,000	$499,000	$3,675,000 2 Lakefronts	43%	NA	14%	0 REO 1 Short Sales
2008	8	$1,350,000	$725,000	$8,625,000 2 Lakefronts	38%	NA	0%	0 REO 0 Short Sales
2007	5	$2,000,000	$865,000	$3,750,000 2 Lakefronts	40%	NA	0%	0 REO 0 Short Sales
2006	3	$970,000	$899,000	$3,550,000 1 Lakefronts	0%	NA	0%	0 REO 0 Short Sales

*YTD period is 01/01/2012 – 09/24/2012. Data Source: Tahoe Sierra Multiple Listing Service. Absorption rate based on 30 day period of time as of 09/25/2012. Subject to change and/or correction at any time without notice.

Tahoe Real Estate Market report for the Rubicon Bay, California area – September 2012

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

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.

Rubicon Bay, California, Real Estate Market Report – September 2012