Tahoe Park, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011 - Lake Tahoe

Tahoe Park, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

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, and kayak storage rental options, just to name a few of the wonderful benefits of the group. This area is located next William Kent Campground Public Beach and the Sunnyside Resort and Marina area.

In addition to Tahoe Park being located close enough for most residents to walk, or a short ride 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 primary, or 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 past year with just one (1) sale in the Tahoe Park neighborhood for 2011.

With only one sale completed for this year in this 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 8 homes currently for sale this area has had very little activity. 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 Tahoe-Truckee area average of 35%.

The current absorption rate for this neighborhood is unknown since the last sale was more than 6 months ago. Anything above 7 months of inventory is considered a Buyers’ market. The absorption rate can change quickly and is typically based on the past 30 – 60 days. Since only 1 sale occurred in the past 12 months, with 8 properties listed for sale, we know that the absorption rate is more than 8 months, or a Buyers’ market.

There were no distress sales (bank foreclosures- real estate owned (REO’s) and short sales) for 2011, which is an improvement over 2010.

There were 8 Active – available homes for sale in just the Tahoe Park neighborhood of, Tahoe City, West Shore, Lake Tahoe, California area as of 02/08/2012. They ranged in price from $315,000 to $1,235,000. Of the 7 homes offered for sale there is 1 short sale accounting for 13% of the market share. Currently, there are no pending sales in the Tahoe Park area as of 02/08/2012.

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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	Absorption Rate < 5 months Sellers Mkt 5-7 months balanced Mkt >7 months Buyer’s Mkt	% Distressed Sales	Breakdown of distressed Sales
2011	1	$525,000	$525,000	$525,000	0%	8+ Months Buyers’ Market	0%	0 REO’s 0 Short Sales
2010	11	$560,000	$300,905	$2,200,000	44%	NA	55%	3 REO’s 3 Short Sales
2009	7	$475,000	$400,000	$925,000	14%	NA	29%	1 REO’s 1 Short Sale
2008	3	$879,833	$439,500	$1,140,000	67%	NA	0%	0 REO’s 0 Short Sale
2007	7	$830,000	$550,000	$1,155,000	29%	NA	0%	0 REO’s 0 Short Sale
2006	13	$849,000	$712,500	$1,350,000	15%	NA	0%	0 REO’s 0 Short Sale

*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.

If you’d like more information on the Lake Tahoe – Truckee, California real estate market read current and past Tahoe newsletters.

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 Tahoe City, California your second home? 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:

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, West Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011