Tahoe Sierra Estates, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011 - Lake Tahoe

Tahoe Sierra Estates, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011

The Tahoe Sierra Estates neighborhood of Tahoe City, California is located less than 1 mile south of the “Y” in Tahoe City on the West Shore of Lake Tahoe, just south of the Tahoe Tavern Condominium complex, and is right across the street from the Tahoe House Bakery.

The Tahoe Sierra Estates is a very small, lakeside, West Shore neighborhood with only 67 lots, of which 12 are lakefronts. Tahoe Sierra Estate has its own homeowners’ gated beach area with 110’ of Lake Tahoe shoreline, with a pier, and offers owners a buoy rental option, with 40 buoys in their HOA field. This neighborhood is close to Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants.

The Tahoe Sierra Estates neighborhood is a mix of a few smaller, older, Tahoe cabins, a few modest homes, along with some larger, newer luxury mountain homes, and lakefronts. There are 12 lakefront properties in this neighborhood and several lake view mountain homes. Most of the owners are in the Tahoe Sierra Estates Property Owners Association that is very desirable with its own gated beach area, pier, and buoys, located directly neighborhood.This vacation-resort, second home neighborhood has nice wide streets and is very easy to get to, all year long.

Tahoe Sierra Estates Homes for Sale

Sold Single Family Homes in the Tahoe Sierra Estates neighborhood West Shore, Lake Tahoe, California:

In the Tahoe Sierra Estates area, mountain home and cabin prices are down this year, with the average median sales price at $476,000. It’s hard to make any year-over-year comparisons because 2010 only had 1 lakefront sale, but comparing 2011 to 2009, prices have dropped 44%.

Cash sale transactions for the Tahoe Sierra Estates area are down from 2009 with all other sales being financed by either conventional or private financing.

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 the same for 2011, and 2010, which was none, and that this neighborhood was well below the regional average.

Distress sales (bank foreclosures – real estate owned (REO’s) and short sales) accounted for 33.3%, which is contributing to the loss of value and pricing pressure in this area.

There were 2 Active – available homes for sale in the Tahoe Sierra Estates, Tahoe City, West Shore, Lake Tahoe, California area as of 12/12/2011. They ranged in price from $499,000 to $749,000.Of the 2 homes offered for sale none are REOs, but there is one short sale listings. There are no pending sales in the Tahoe Sierra Estates neighborhood as of 12/12/2011.

Tahoe Sierra Estates, West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

Year	Homes Sold	Median Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	Homes into escrow within 30 days of being listed in TSMLS	%Distressed Sales	Breakdown of distressed Sales
2011*	3	$476,000	$475,000	$925,000 0 Lakefronts	33.3%	0%	33.3%	0 REO’s 1 Short Sale
2010	1	$4,000,000	$4,000,000	$4,000,000 1 Lakefront	100%	0%	0%	0 REO’s 0 Short Sale
2009	3	$855,000	$685,000	$4,500,000 1Lakefront	66.7%	33.3%	0%	0 REO’s 0 Short Sale
2008	0	$0	$0	$0 0Lakefront	0%	0%	0%	0 REO’s 0 Short Sale
2007	2	$800,000	$775,000	$825,000 0Lakefront	100%	66.7%	0%	0 REO’s 0 Short Sale
2006	3	$1,460,000	$790,000	$3,949,000 1Lakefront	33.3%	33.3%	0%	0 REO’s 0 Short Sale

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

Use caution when only a handful of sales are available in a neighborhood. The increase and decrease 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 market trends and direction, rather than relying on just a small group of neighborhood sales.

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.

Want to see what homes 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 Sierra Estates, Tahoe City, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011