Tahoe City Homes for Sale Real Estate Market Report
Tahoe City Homes for Sale Market Report – May 2013
It’s that time of year to review how the Tahoe City, California real estate market has performed for the first four months of 2013. Here is the Tahoe City, California homes for sale Market Report for the January 1, 2013 through April 30, 2013 period.
Tahoe City Homes Sold Market Report – May 2013:
Sold Sales: Tahoe City area had 20 single family homes sold for the first four months of 2013. The Tahoe City single family home sales price has remained flat in 2013 with a slight 1% increase with an average median homes sales price of $580,000 compared to the entire 2013 year.
The current absence of any distressed home sellers in the Tahoe City market is good news for sellers and price stabilization should continue in 2013.
The median average days on market was 83 DOM.
Cash Sale Transactions: The number of cash sale transactions for the Tahoe City area has declined to 25%, which 1 out of every 4 home sold in the Tahoe City area was a cash buyer.
Absorption Rate: The current single family home absorption rate for the Tahoe City area is at 7.8 months, which indicates a Buyers’ market dancing with becoming a Balanced Market as of 05/03/2013.
Distress Sales: Distress sellers (bank foreclosures- Real Estate Owned (REO’s) and short sales) decreased to 15% of all homes sold in 2013, which is a primary reason for the market improvement in the Tahoe City area. With the absence of short sales and REO/Bank Foreclosures no longer dominating the Tahoe City market, we can expect prices to stabilize and move up.
Active Homes for Sale: There are thirty-nine (39) Active– available homes for sale in the Tahoe City area as of 05/03/2013. They ranged in price from $299,000 to $16,800,000, with an average median asking sales price of $897,500.
The current inventory levels for the Tahoe City area are extremely limited. Of the thirty-nine (39) homes offered for sale, there are none (Zero – 0) short sales, and no (Zero – 0) REO (Bank Foreclosure) listings, – 0% of the current listings are distressed, which is a clear sign that the Tahoe City market has stabilized and has turned around.
Pending Home Sales: There are eleven (11) pending home sales in the Tahoe City area and they range in price from $329,000 to $7,950,000. There is one (1) short sales, and one (1) REO/Bank Foreclosure.
Tahoe City, CA 96145 Homes Sold Real Estate Market Report Summary:
|
Year |
Homes |
Median Price |
Lowest |
Highest |
% |
Absorption Rate** >7 Months – Buyers’ Market (30 Days Sales Period) |
% Distressed Sales |
Breakdown |
|
2013* |
20 |
$580,000 |
$214,000 |
$2,200,000 0 Lakefronts |
25% |
7.8 Months** Buyer’ Market |
15% |
0 REO’s 3 Short Sales 0 Court Approval |
|
2012 |
106 |
$572,000 |
$179,000 |
$17,250,000 10 Lakefronts |
39% |
NA |
23% |
10 REO’s 14 Short Sales 1 Court Approval |
|
2011 |
64 |
$555,000 |
$257,000 |
$6,450,000 5 Lakefronts |
34% |
NA |
25% |
7 REO’s 9 Short Sales |
|
2010 |
70 |
$653,000 |
$219,000 |
$7,100,000 |
39% |
NA |
19% |
7 REO’s 6 Short Sales |
|
2009 |
65 |
$635,000 |
$340,000 |
$6,288,000 4 Lakefronts |
26% |
NA |
17% |
5 REO’s 6 Short Sales |
|
2008 |
50 |
$741,500 |
$350,000 |
$20,000,000 5 Lakefronts |
26% |
NA |
0% |
0 REO’s 0 Short Sales |
|
2007 |
56 |
$883,500 |
$525,000 |
$12,400,000 4 Lakefronts |
21% |
NA |
0% |
0 REO’s 0 Short Sales |
|
2006 |
89 |
$890,000 |
$425,000 |
$16,700,000 6 Lakefronts |
18% |
NA |
0% |
0 REO’s 0 Short Sales |
** Absorption Rate is as of 05/03/2013
Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) 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, modification, and/or correction without prior notice. If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.
See the newest to oldest Tahoe City Homes for Sale Listings here:
[idx-listings linkid=”304257″ count=”50″]
Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist
