Tahoe City Homes for Sale – Lake Tahoe, California Market Trend Report March 2012 - Lake Tahoe

Tahoe City Homes for Sale – Lake Tahoe, California Market Trend Report March 2012

The Tahoe City area is a wonderful mountain community located near all of the recreational activities Lake Tahoe is famous for. The Tahoe City community is located at the junction of California Highways 28 and 89 South. This junction is also the dividing point between the North Shore of Lake Tahoe, and the West Shore of Lake Tahoe.

Tahoe City is actually located on both the North Shore and West Shore of Lake Tahoe, which stretches out 3 miles in each direction. Currently, Tahoe City has a full time population of just over 1,500 people.

Downtown Tahoe City, which is known for its charming Alpine Mountain Village setting, lake views, and small-town friendly atmosphere, is actually located on the North Shore of Lake Tahoe, on Highway 28.

The Tahoe City community has 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 Tahoe City area is also very close to Alpine Meadows, Squaw Valley, and Homewood Ski Resorts offering a diverse selection of places to ski.

The Tahoe City community is a mix of smaller, older, Tahoe cabins, along with larger, newer luxury mountain homes. There are a number of condominium developments in the area, along with a limited number of lakefront properties and lake view homes in the area. This area is very desirable because of its location to the North Shore and the West Shore communities of Lake Tahoe.

The Tahoe City community is a very popular area and is easy to get to on a year-around basis. It is a popular vacation rental location for summer and winter rentals.

Tahoe City real estate for sale – Mountain Homes, Cabins, and Lakefront properties.

Sold Tahoe City Single Family Homes, North Shore, Lake Tahoe, California, 96145:

In the Tahoe City area home prices are up +25% for 2012 TYD, but were down, -15% in 2011. The current average median sales price is $695,000. This is a great start for 2012. Take a look at the price trend chart for Tahoe City.

Cash sale transactions for the Tahoe City area have dropped to 23%, which is well below the Tahoe-Truckee regional cash transaction rate of 34%, but is in line with historical trends for the area.

The current absorption rate for this neighborhood is at 9.4 months. Anything above 7 months of inventory is considered a Buyer’s Market. The Tahoe City neighborhood is moving towards becoming a balanced market, which should result in some market stabilization once the area can work through the current distressed sales.

Distress sales (bank foreclosures – real estate owned (REO’s) and short sales) accounted for 38%. This is more than one-third of all Tahoe City sales, and is an increase over 2011 distress sales rates of 25%. The increase in distress sales is the single largest contributing factor to the drop in price over the past several years.

There were 47 Active – available homes for sale in the Tahoe City, California, Lake Tahoe, area as of 03/18/2012. These Tahoe City lakefronts, mountain homes, and cabins ranged in price from $180,000 to $19.95 million. Of the 47 homes offered for sale, 6 homes were lakefronts, 2, split lakefronts, 39 were non-lakefront properties; 0 REO listings and 7 short sale listings.

There are 14 pending sales, 3 REO’s, 2 short sales, and 1 lakefront. The pending sales ranged in price from $275,000 to $3,150,000 in the Tahoe City, California area.

Tahoe City, California, 96145 – Lake Tahoe 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
2012*	13	$695,000	$318,000	$2,950,000 1 Lakefronts	23%	9.4 months Buyers’ Market	38%	2 REO’s 3 Short Sales
2011	64	$555,000	$257,000	$6,450,000 5 Lakefronts	34%	NA	25%	7 REO’s 9 Short Sales
2010	70	$653,000	$219,900	$7,100,000 7 Lakefronts	39%	NA	19%	7 REO’s 6 Short Sale
2009	65	$635,000	$340,000	$6,288,000 4 Lakefronts	26%	NA	17%	5 REO’s 6 Short Sale
2008	50	$741,500	$350,000	$20,000,000 5 Lakefronts	26%	NA	0%	0 REO’s 0 Short Sale
2007	56	$883,500	$525,000	$12,400,000 4 Lakefronts	21%	NA	0%	0 REO’s 0 Short Sale
2006	89	$890,000	$425,000	$16,700,000 6 Lakefronts	18%	NA	0%	0 REO’s 0 Short Sale

*YTD period is 01/01/2012 – 03/18/2012. Absorption rate is current as of 03/18/2012. Data Source: Tahoe Sierra Multiple Listing Service.

Use caution when only a handful of sales are available in a neighborhood.

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.

Ready to make Tahoe City, California your second home? Check out what is 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.

Tahoe City Homes for Sale – Lake Tahoe, California Market Trend Report March 2012