Tahoe Park, Tahoe City, California, Real Estate Market Report – October 2012
The Tahoe Park area of Tahoe City, California is a small, West Lake Tahoe neighborhood located approximately 2 miles south-west of the “Y” in Tahoe City.
Officially this subdivision is called “Lake Tahoe Park”, but locally the area is known as “Tahoe Park”. Many know this area because of its close proximity to the Sunnyside Resort and Fire Sign Café restaurant.
The Tahoe Park area has the charm of the smaller, older Tahoe cabins, along with newer, larger, luxury mountain homes. There are approximately 353 parcels in this neighborhood.
Property located in the Tahoe Park area comes with the highly desirable Lake Tahoe Park Homeowner Association (also known as “Tahoe Park HOA”) with its gated beach area, two piers, and BBQ areas.
Membership into the Lake Tahoe Park HOA can only be gained by land ownership in their designated area and adds to the overall market value of the popularity of the area.
While there are several subdivisions that come with the Tahoe Park HOA membership, such as Tahoe Park Heights, Talmont, and Tahoe Woods, only the Tahoe Park (Lake Tahoe Park) homes are within a reasonable walking distance of the Tahoe Park HOA beach area. Check out this video on the Tahoe Park HOA area here:
Tahoe Park, Tahoe City, California Sold Single Family Homes:
In the Tahoe Park neighborhood the average median home sales price for 2012 is $360,000. With 7 sales this year, over the 1 sale from 2011, sales activity has really picked up.
Cash sales for the Tahoe Park homes area are also up over 2011 levels at 29%.
The current absorption rate for the Tahoe Park neighborhood is at 3 months. Anything below 5 months is considered a Sellers’ Market. The absorption rate can change quickly. Based upon the current level of activity in the Tahoe Park area, the market has stabilized and has most likely put in a market bottom.
There has been 1 distressed sale (bank foreclosures- real estate owned (REO’s) and short sales) for 2012.
There were 6 available homes and cabins for sale in just the Tahoe Park neighborhood of Tahoe City as of 11/04/2012. They ranged in price from $325,000 to $895,000.
Of the 6 homes offered for sale there are 2 short sales accounting for 33% of the market share, which is still putting pricing pressure on the area.
Currently, there are 2 pending sales in the Tahoe Park area as of 11/04/2012, ranging in price from $299,000 to $975,000.
Tahoe Park, Tahoe City, California, 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* | 1 | $360,000 | $256,000 | $660,000 | 29% | 3 Months Sellers’ Market |
14% | 0 REO’s1 Short Sale |
| 2011 | 1 | $525,000 | $525,000 | $525,000 | 0% | NA | 0% | 0 REO’s0 Short Sales |
| 2010 | 11 | $560,000 | $300,905 | $2,200,000 | 44% | NA | 55% | 3 REO’s3 Short Sales |
| 2009 | 7 | $475,000 | $400,000 | $925,000 | 14% | NA | 29% | 1 REO’s1 Short Sale |
| 2008 | 3 | $879,833 | $439,500 | $1,140,000 | 67% | NA | 0% | 0 REO’s0 Short Sale |
| 2007 | 7 | $830,000 | $550,000 | $1,155,000 | 29% | NA | 0% | 0 REO’s0 Short Sale |
| 2006 | 13 | $849,000 | $712,500 | $1,350,000 | 15% | NA | 0% | 0 REO’s0 Short Sale |
*YTD period is 01/01/2012 – 10/31/2012. Data Source: Tahoe Sierra Multiple Listing Service. Absorption rate based on 30 day period of time as of 11/04/2012. Subject to change and/or correction at any time without notice.
Tahoe Real Estate Market report for the Tahoe Park, Tahoe City, California area – October 2012
Need more help in trying to figure out your Lake Tahoe – Truckee home/condo buying options?
Do you want to learn more about the different neighborhoods, locations, developments and their amenities, HOA fees and the ones that will best meet your needs? Call me at 530.414.1260 and I can help you find the right place to buy!
Thinking about making Tahoe City, California your second home? Want more home buying options? Check out the homes that are for sale in Tahoe City here:
Want to see what condos are for sale in Tahoe City? Here are the current listings:
- Tahoe Park HOA Membership Homes
- Talmont Homes
- Tahoe Woods Homes
- Tahoe Park Heights Drive
- Tahoe City Homes for Sale
- Tahoe City Condos for Sale
- Tahoe City 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.
Tahoe Park, Tahoe City, California, Real Estate Market Report – October 2012
