Tahoe Pines, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – November 2011
The Tahoe Pines neighborhood of Homewood, California is located approximately 5 miles south of Tahoe City on the West Shore of Lake Tahoe.
Sold Single Family Homes in the Tahoe Pines neighborhood West Shore, Lake Tahoe, California:
In the Tahoe Pines area, mountain home and cabin prices are up significantly this year, with the average median sales price at $655,000. While home prices are up, sales for 2011 have been slower, but could come close to 2010 sales levels if all pending sales close by the end of the year.
Cash sale transactions for the Tahoe Pines area has doubled to 50%, indicating buyers are still finding good real estate values in the Homewood area, and willing to place their investment dollars here.
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 also increased to 1 out of every 2 Tahoe Pines homes sold. Sending a message to buyers, if it’s a deal and you’re interested, you need to write your offer up now.
Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 25%, which is a significant improvement over 2010, where 62.5% of all homes and cabins sold were REO sales in this neighborhood.
There were 6 Active – available homes for sale in just the Tahoe Pines, Homewood, West Shore, Lake Tahoe, California area as of 11/08/2011. They ranged in price from $340,000 to $6.495 million.Of the 6 homes offered for sale there are no REO, or short sale listings. There are 3 pending sales in the Tahoe Pines, Homewood area as of 11/08/2011, ranging in price from $325,000 to $1,395,000.
Want to know what Tahoe Pines, lakefronts, mountain homes, and cabins are for sale?
Tahoe Pines, 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* |
4 |
$655,000 |
$450,000 |
$899,000 0 Lakefronts* |
50% |
50% More than 1 out of 2 |
25% |
1 REO’s 0 Short Sales |
2010 |
8 |
$377,450 |
$260,000 |
$5,450,000 1 Lakefronts |
25% |
25% 1 out of 4 |
62.5% |
5 REO’s 0 Short Sale |
*YTD period is 01/01/2011 – 11/08/2011. Data Source:Tahoe Sierra Multiple Listing Service. One lakefront in Tahoe Pines did sell this year, but was not reported in the MLS, so it is not included in this data.
Remember when we have only a handful of sales in a neighborhood, the increase and decrease swings in the percent changes can be significant. Numbers are easily moved in either direction depending on the combination of homes sold. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm trends and direction, rather than relying on just a small group of sales.
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