Tahoe Park, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011
The Tahoe Park neighborhood of Tahoe City, California is located approximately 2 miles south west of the “Y” in Tahoe City on the West Shore of Lake Tahoe, California.
Homes for Sale with the Tahoe Park HOA Membership:
The Tahoe Park neighborhood is one of the older neighborhoods on the West Shore, and is known for its easy access and the charm of the smaller, older Tahoe cabins, along with newer, larger luxury mountain homes.
This area is very desirable as the homes are walking distance to the Lake Tahoe Park Homeowner Association (also known as “Tahoe Park HOA”) gated beach area.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 and desirability of the area.
The Lake Tahoe Park Homeowners Association gives owners access to over 850’ feet of Lake Tahoe Shore line, a gated beach, BBQ/picnic areas, two shared piers, buoy rental option, and kayak storage rental option, just to name a few of the wonderful benefits of the group. This area is located next Willam Kent Campground Public Beach area, and the Sunnyside Resort and Marina.
In addition to Tahoe Park being located close enough for most residents to walk to their HOA beach area, this neighborhood has a small market- West Shore Market, three restaurants – Fire Sign Café (breakfast and lunch), Spoons (dinner only) and Sunnyside Resort (Bar and restaurant, lunch seasonal, dinner nightly), and Cyclepaths bike shop. Vacation rentals in this area are typically at a premium because of the desirable location and the Lake Tahoe Park HOA membership.
Like most West Shore neighborhoods, Tahoe Park’s close proximity to Tahoe City and Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants makes this a great area to have a vacation-resort second home.
Sold Single Family Homes in the Tahoe Park, Tahoe City neighborhood West Shore, Lake Tahoe, California:
Mountain home and cabin prices are down -6% for the Tahoe Park, Tahoe City, California area. What is really surprising is how few sales this popular area has had this year – just one sale in the Tahoe Park neighborhood for 2011.
With only one sale completed for this year in the Tahoe Park neighborhood, it’s hard to come to any strong conclusions on how much this area has really dropped, or if stabilization is really occurring.Comparing 2009 to 2010, home values increased +17.8%, but the number of distress sales almost doubled, to 54% of all sales in 2010. What we do know is that this area, with 7 homes for sale has had very little activity in 2011. Based on the one sale in 2011, the currently median average sales price is at $525,000.
Cash sale transactions for Tahoe Park homes improved in 2010 to 44%, but the one sale in 2011 was not a cash sale, so that drops to 0% cash sales, well below the area average of 36%.
The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) was at 0%, as the one sale took 169 days before going into escrow.
There have been no closed distress sales (bank foreclosures- real estate owned (REO’s) and short sales) this year so far, but with one sale, all we can do is look at the current listings, and of those homes listed for sale 14% (1 out of 7) is a short sale, so the area is still under pricing pressure from distressed sellers.
There were 7 Active* – available homes for sale in just the Tahoe Park, Tahoe City, West Shore, Lake Tahoe, California area as of 12/06/2011. They ranged in price from $315,000 to $1,249,000 million, with an average median sales price of $680,000.Of the 7 homes offered for sale there are 1 short sale accounting for 14.2% of the market share. Currently, there are no pending sales in the Tahoe Park area as of 12/06/2011.
Tahoe Park, Tahoe City, 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 |
1 |
$525,000 |
$525,000 |
$525,000 |
0% |
100% Both homes were in escrow in less than 7 days |
0% |
0 REO’s 0 Short Sales |
2010 |
11 |
$560,000 |
$300,905 |
$2,200,000 |
44.4% |
36.4% More than 1 out of 3 |
54.5% |
3 REO’s 3 Short Sales |
2009 |
7 |
$475,000 |
$400,000 |
$925,000 |
14.3% |
14.3% 1 out of 7 |
28.6% |
1 REO’s 1 Short Sales |
*YTD period is 01/01/2011 – 11/30/2011.Data Source:Tahoe Sierra Multiple Listing Service.
If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. If you’d like a copy emailed to you, just write to Laura@TahoeLaura.com and type in the subject line “newsletter”.
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.
Thinking about making the the West Shore of Lake Tahoe your second home?
- Tahoe City West Shore Lake Tahoe Homes for Sale
- Homewood Homes for Sale
- Meeks Bay Homes for Sale
- Rubicon Bay Homes for Sale
- Tahoma Homes for Sale
- Tahoma Condos for Sale
- West Shore Lake Tahoe Lakefront Homes for Sale
- West Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Condos for Sale
Tahoe Park, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011