Kings Beach Homes for Sale Market Report – May 2013
It’s time to see how the Kings Beach, California real estate market has performed from January 1, 2013 through May 31, 2013. Here is the Kings Beach, California 96143 homes for sale real estate market report.
Kings Beach Homes Sold Market Report – May 2013:
Sold Sales: Kings Beach had 22 single family homes from January 1, 2013 through May 31, 2013.
Average Median Home Sales Price: The Kings Beach average median home sales price was $342,750, which is a 7% increase in price over 2012 and a 13% increase in price over 2011. Homes sold ranged from a low of $126,600 to $725,000.
Days on Market: The median average days on market was 87 DOM.
Cash Sale Transactions: The number of cash sale transactions for the Homewood area decreased to 36%, which is above the Tahoe- Truckee Regional average of 27%. Kings Beach cash buyers represents more than 1 out of every 3 homes sold in the area, which means buyers have strong competition from other buyers.
Distress Sales: Distressed sellers (bank foreclosures- real estate owned (REO’s) and short sales) in the Kings Beach area have decreased to 36% of all homes sold in 2013. Of those distressed sales 63% of those properties were listed in 2012, so the number of foreclosures and short sales that have closed this year were from the hang-over of distressed inventory from 2012, which means distressed sales are not the dominating factor they have been in previous years.
Active Homes for Sale: There were 25 Active– available homes for sale in the Kings Beach area as of 06/15/2013. This is our largest selection of inventory that we have had all year. Kings Beach homes ranged in price from $231,900 to $5.5 million, with an average median asking sales price of $675,000.
Of the 25 homes offered for sale, none (Zero – 0) are short sales, one is a (1) REO (Bank Foreclosure) listings, or only 4% of the current listings are distressed, which is a clear sign that the market is stabilizing and moving up in price.
Absorption Rate: The current absorption rate for the Kings Beach area is at 3.57 months, which indicates a Sellers’ market as of 06/15/2013. (Less than 5 months is a Seller’s Market, 5-7 months is a Balanced Market and more than 7 months of inventory is a Buyer’s Market.)
Pending Home Sales: There are fifteen (15) pending home sales in the Kings Beach area and they range from $116,900 to $510,900. There are five (5) short sales, and four (4) REO/Bank Foreclosures.
I would expect to see more sales, and the average median homes sales price for the Kings Beach area to move up for the second half of the year as the reduced number of distressed sellers continues to decrease and currently represents only 4% of the available market for sale.
Kings Beach, California 96143
The Kings Beach community has sandy public beaches, recreational facilities, a nine-hole golf course, tennis courts, cross-county ski area, restaurants, shops, and other commercial services to make being in Lake Tahoe enjoyable. The Kings Beach area is also very close to the Northstar ski resort area and the Nevada Stateline offering a diverse selection of activities – there’s something for everyone.
Popular neighborhoods in the Kings Beach area are:
- Kingswood Estates
- Brockway Vista
- Brockway Tract
- Brockway Park
- Lake Vista
- Woodvista
If you’d like more information on the Kings Beach, or would like to know what your Kings Beach home may be worth, call Laura Allen at 530-414-1260.
Ready to make Kings Beach your second home? Check out what is for sale here:
- Kings Beach Homes for Sale
- Kings Beach Condos for Sale
- Kings Beach Lakefront Homes for Sale
- Lake Tahoe Lakefront Homes for Sale
- North Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Homes for Sale
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.
Kings Beach Homes for Sale Market Report – May 2013