Tahoe City, North Shore, and West Shore, Lake Tahoe, California Real Estate Market Report – 3rd Quarter 2011
Sold Single Family Homes in Tahoe City, North Shore, and West Shore, Lake Tahoe, California:
The Tahoe City, North Shore, and West Shore, Lake Tahoe area single family home prices are posting a slight positive increase in price of 0.5% this year, but will most likely fall short of the number of single family homes sold compared to 2010 sales.If the Tahoe City, North Shore, and West Shore areas can hold onto to this gain, it will be the first increase in price in over 4 years, which may be a signal that the market has found some stability.
Cash sale transactions for single family homes have increased to 39.9% for the Tahoe City, North Shore, and West Shore, Lake Tahoe market. The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) has increased to 38%, or a little more than 1 in every 3 sales, which tells us there are willing and waiting buyers for Tahoe properties. Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 29.8% of all homes sold in 2011, which is a slight decrease over last year.
There were 322 Active* – available homes for sale in the Tahoe City, North Shore, and West Shore, Lake Tahoe area as of 10/30/2011. They ranged in price from $108,000 to $21 million.Of the 322 homes offered for sale there are 2 Court Approvals, 18 REO listings, and 29 short sales making up 15.5% of the available inventory. There are 37 sales pending in this vacation-resort second home market ranging in listed price from $209,900 to $1,450,000.
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Tahoe City, North Shore, and West Shore, Lake Tahoe, California, Real Estate Summary for Sold Single Family Homes:
|
Year |
Homes Sold |
Median Average Sales Price |
Lowest Price Sold |
Highest Price Sold |
% Cash Transactions |
Homes into escrow with in 30 days of being listed in TSMLS |
% Distressed Sales |
Breakdown of distressed Sales |
|
2011* |
22 |
$752,000 |
$452,500 |
$3,200,000 |
54% |
23% approximately 1 out of 5 |
18% |
3 REO’s 1 Short Sales |
|
2010 |
18 |
$1,454,250 |
$396,000 |
$3,000,000 |
44% |
33% 1 out of 3 |
21% |
1 REO’s 3 Short Sale 1 Court Approval |
*YTD period is 01/01/2011 – 09/30/2011.*Active totals do not include “active contingent” listings. Data Source is Tahoe Sierra Multiple Listing Service (TSMLS) – TSMLS Areas 1-5.
Sold Condominium / Townhome in Tahoe City, North Shore, and West Shore, Lake Tahoe, California:
The Tahoe City, North Shore, and West Shore, Lake Tahoe condominium /townhouse real estate market has declined by -14.2% in value this year. The total number of units sold should be close to the sales volume of 2010, if the current pending sales close by year-end.Cash sale transactions have declined to 35%, or 1 out of every 3 units sold, which means lenders are once again providing conventional financing for our condo/townhomes. The number of condo/townhomes going into escrow with in the first 30 days of being listed in the TSMLS has increased to 38% which is more than 1 out of every 3 units sold. The number of distress sales (bank foreclosures- real estate owned (REO’s) has dropped slightly to 29.8% of the units sold in 2011.
There were 91 Active* – available condominium / townhomes for sale in the Tahoe City, North Shore, West Shore, Lake Tahoe area as of 10/30/2011. They range in listed price from $60,000 to $3,699,999.Of the 91 condos offered for sale, only 1 is a REO listing and 3 are short sales. There are 6 condominium pending sales in the Tahoe City, West Shore and North Shore, Lake Tahoe market as 10/30/2011.
Want to know what Tahoe City, Lake Tahoe, California condominium / townhomes are for sale?
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Tahoe City, North Shore and West Shore, California Real Estate Summary for Sold Condominiums / Townhomes
|
Year |
Condos / Townhomes Sold |
Median Average Sales Price |
Lowest Price Sold |
Highest Price Sold |
% Cash Transactions |
Condos / Townhomes into escrow with in 30 days of being listed in TSMLS |
% Distressed Sales |
Breakdown of distressed Sales |
|
2011* |
51 |
$257,700 |
$94,462 |
$2,200,000 |
43% |
23.5% almost 1 out of 4 |
31.8% |
11 REO’s 5 Short Sale |
|
2010 |
65 |
$300,500 |
$71,000 |
$3,037,000 |
50.7% |
16.9% 1 out of 5 |
27.7% |
13 REO’s 4 Short Sales 1 Court Approval |
*YTD period is 01/01/2011 – 09/30/2011.*Active totals do not include “active contingent” listings. Data source – TSMLS: TSMLS Areas 1-5.
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.
Overview and summary completed by:
Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304
