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Tahoma, California Real Estate Market Report September 2012

Tahoma, California Real Estate Market Report September 2012

October 4, 2012 By Laura Allen, Tahoe REALTOR, 530-414-1260, CalRE# 01473598

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Tahoma, California Real Estate Market Report September 2012

The Tahoma, California  community is located approximately nine (9) miles south of downtown Tahoe City on the West Shore of Lake Tahoe, California between the communities of Meeks Bay and Homewood, California.

Tahoma homes and cabins for sale:

Tahoma, California Real Estate Market Report September 2012

The Tahoma area is one of the more developed neighborhoods and offers some of the most affordable homes on West Lake Tahoe.

Tahoma offers a mix of smaller, older, Tahoe cabins, to larger, newer luxury mountain homes, with a limited number of lakefront properties.  Tahoma is located next to the Sugar Pine Point State Park and is close to the Homewood Ski Resort area.

Tahoma is easily accessed all year-long and is a nice mix of full-time residents and second home owners.

Tahoma Sold Single Family Homes Market Report:

Tahoma home prices are down again for 2012, with the average median sales price at $250,000.

This price drop is attributed to the significant increase in distressed sellers (REO’s /Bank Foreclosures and Short Sales), which accounts for more than 62% of all sales in 2012.  What is interesting about this increase in distressed sales is 75% of those transactions closed prior to May 18, 2012.

Tahoma, California Real Estate Market Report September 2012

Cash sale transactions for Tahoma homes has increased to 69%, which is well above the Tahoe-Truckee regional average of 34%.  This is a strong indication that the Tahoma area is a real estate value play, and buyers are not afraid to place their investment dollars here.

The current absorption rate for the Tahoma area is at 8 months.  Anything above 7 months of inventory is considered a Buyers’ Market.  The first step to turning the Tahoma market around is reducing the number of distressed sellers.

Distress sales (REO’s/Bank Foreclosures and short sales) accounted for 62% of all Tahoma sales. That’s more than half of all the homes sold in 2012 in Tahoma were distressed.  This is a 24% increase over 2011 levels.

Tahoma, California Real Estate Market Report September 2012There were 24 homes available for sale in the Tahoma, California area as of 10/01/2012.  This is an inventory drop of -13% over the past 11 months, when there were 37 active available homes for sale.  The homes currently available for sale range in price from $169,900 to $13.5 million.

Of the 24 homes offered for sale there is 1 REO/Bank Foreclosure listing, and 1 short sale, which is now only 8% of the market.

This is a significant improvement in the number of distressed sellers, and represents a small fraction of the total distressed sales for 2012.  There are currently 4 pending sales in the Tahoma area as of 10/01/2012, ranging in price from $229,000 to $475,000.  Two of the pending sales are REO/Bank Foreclosure sales.

Tahoma, 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

2012*

29

$250,000

$76,000

$3,435,000

1 Lakefronts

69%

8 months

Buyers’ Market

62%

12 REO’s

6 Short Sales

2011

37

$351,000

$165,000

$675,000

0 Lakefronts

38%

NA

38%

8 REO’s

6 Short Sales

2010

21

$399,000

$161,000

$9,500,000

3 Lakefronts

38%

NA

29%

6 REO’s

0 Short Sales

2009

20

$437,250

$276,000

$1,900,000

1 Lakefront

25%

NA

30%

3 REO’s

2 Short Sales

1 Court Approval

2008

23

$570,000

$309,000

$4,350,000

1 Lakefronts

17%

NA

0%

0 REO’s

0 Short Sales

2007

26

$507,250

$500,000

$685,000

0 Lakefronts

15%

NA

0%

0 REO’s

0 Short Sales

2006

35

$659,000

$310,000

$6,783,333

3 Lakefronts

14%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2012 – 09/30/2012.  Data Source:  Tahoe Sierra Multiple Listing Service.  Absorption rate based on 30 day period of time as of 10/01/2012.  Data subject to change and/or correction at any time without notice.

Tahoe Real Estate Market report for the Tahoma, California area – September 2012

Ready to make the West Shore of Lake Tahoe your second home?  Check out what is for sale here:

  • Tahoma Homes for Sale
  • Tahoma Condos 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.

Tahoma, California Real Estate Market Report September 2012

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Laura Allen | 530.414.1260

CalRE# 01473598 | Broker Associate

Coldwell Banker| CalRE# 01908304, Tahoe City, CA 96145

Copyright © 2022 | Laura Allen | CalRE# 01473598 | www.TahoeLauraRealEstate.com | 530-414-1260 | Laura@TahoeLaura.com | Coldwell Banker Realty | 475 N. Lake Blvd., Tahoe City, CA 96145 | Log in

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