Tahoma Home Values | Market Report – Year End 2018

Tahoma Home Values | Market Report - Year End 2018 Looking for sold, year-end 2018 single family home market data for the Tahoma area?

Here is the year-end 2018 real estate review for Tahoma, CA.

The Tahoma real estate market conditions continue to be strong, and favor Sellers.

Inventory levels of available homes for sale in Tahoma remain critically low and limited.

Buyers have very few options, and it doesn’t matter what price point you are looking at, they are all limited.

On January 31, 2019 there were only ten (10) homes for sale.

Here are the current Tahoma

homes for sale, all price points:

Need help as a Tahoe Buyer? Call me call Laura Allen, 530.414.1260, for help!

Single family home prices move up significantly in 2018, and part of that increase was because we had a number of record lakefront sales on both the West Shore of Lake Tahoe, and the North Shore of Lake Tahoe.

Lake Tahoe lakefront homes hit new highs on the North Shore $22+ million, and on the West Shore the sold prices were even more impressive with a new high of $40 million.

You can see on the graph below that the over-all Tahoma home price trend for the average median home sold sales price move up in 2018.

Tahoma Home Values | Market Report - Year End 2018

Tahoma single family home prices were up +11.5% for 2018, with a median average

sales price of $630,000.

A common question I am often asked by Buyers and Sellers is:

“What percentage of the listed price are Sellers getting on their Tahoe property?”

In 2018, Sellers realized approximately 97% of the their average listed median home sales price to the sold average median sales price in the greater Tahoma area.

This is lower than the over-all region, which was at 98.9%.

If Sellers have priced their property correctly, they will get close to their asking price.

It also means Tahoe Buyers that want to be really aggressive on their offered price are going to have a harder time in this market.

Real Estate Market Homes Sold Activity for the Tahoma Area: Year-End 2018 YTD Period: 01-01-2018 to 12-31-2018

Number of Homes Sold in Tahoma: 37
Median Average Sold Sales Price for Tahoma: $630,000
Average Sold Sales Price in Tahoma: $654,209
Sold Price Range in Tahoma: $225,000 – $1,760,000
Percent (%) List to Sold Price Ratio: 97%
Average Days on Market (DOM in MLS): 66 DOM
Number of Active and Available Homes for Sale in Tahoma as of 01-13-2019: 10
Pending Home Sales in Tahoma as of 01-31-2019: 1
Number of Distressed Available Listing – As of 01-31-2019: Zero (0) listings: Zero (0) Court Approval, Zero (0) Short Sale, Zero (0) REO|Bank Foreclosures

Other interesting Tahoma single family home market observations:

Days on Market (DOM) declined 16.5% from 2017 to 2018.

For 2018 is the number of days on the market for single family homes is now at 66 days, down 13 days from 2017.

The shorter the marketing time for a home, the stronger the market is for Sellers.

Inventory – Current inventory levels are critically low. Again, another sign of the market favoring Sellers.

Search Tahoma homes for sale by price point here:

Lower Number of Sales – The number of sales in 2018 may have distorted the over-all increase.

It is always beneficial for Buyers and Sellers to look at the entire North Lake Tahoe – Truckee regional single family home price trend, which was up +7.45% for 2018, with a median average sales price of $721,000 (TSMLS Areas 1-9).

As a result, I recommend looking the the entire North Lake Tahoe – Truckee Region for market trends and take that into consideration when looking at smaller data sets, and area.

North Lake Tahoe – Truckee Home Values | Market Report – Year End 2018

If you already own a home in the Tahoe area and want to know what is your property is now worth? Looking for help as a Seller?

Call me call Laura Allen, 530.414.1260, for a confidential consultation.

Tahoe Home Buyers should do the following:

Look at new listings as soon as possible. Don’t wait until the weekend.
Be prepared to write an offer the same day as seeing a new listing. Decisions need to be made as soon as possible.
Use a Buyers’ Agent. Work with an experienced local Tahoe Real Estate Agent. They understand the market conditions, and how other agents work and may respond.
Do you have your loan approval letter? If you will need a loan, make sure your lender has approved you.
If you are buying a condo or townhome in the area, make sure you are using a local lender. Using a local lender that has recently processed a loan in the complex you want to buy in will do two things for you.
- First, you will have the confidence that the lender has already reviewed their HOA docs and previously approved the development, which will increase your odds of the same outcome.
- Second, Sellers that know you have selected a lender with this experience will give you extra credit for knowing your lender is ready to go on their property.

If you want more long-term real estate data, check out the following table that has a lot of data going back over ten years.

I’ve included both the average median sales price and average sales price (in some cases there is a significant difference between the two, but the trends are the same direction for both) are included for each year in the following table.

Tahoma Sold Single Family Homes

01/01/2018 – 12/31/2018

(This table is best viewed on a laptop, desktop, or a device with a larger screen.)

Year	Homes Sold	Median Average Sales Price	Average Sales Price	Days On Market	Lowest Price Sold	Highest Price Sold	% Cash Transactions	% Distressed Sales	Breakdown of Distressed Sales
2018*	37	$630,000	$654,209	66	$225,000	$1,760,000 0 Lakefronts	24%	0%	0 REO’s 0 Short Sales
2017	47	$565,000	$835,654	79	$205,000	$6,175,000 3 Lakefronts	34%	2%	1 REO’s 0 Short Sales
2016	31	$437,500	$659,128	60	$192,000	$6,000,000 1 Lakefronts	35%	0%	0 REO’s 0 Short Sales
2015	49	$485,000	$689,986	143	$175,000	$8,850,000 1 Lakefronts	39%	10%	3 REO’s 2 Short Sales
2014	49	$448,000	$442,057	133	$160,000	$1,000,000 0 Lakefronts	29%	10%	2 REO’s 3 Short Sales
2013	45	$365,000	$519,078	87	$140,000	$5,300,000 1 Lakefronts	29%	9%	2 REO’s 2 Short Sales
2012	36	$259,750	$382,435	80	$76,000	$3,435,000 1 Lakefronts	28%	56%	15 REO’s 4 Short Sales
2011	37	$351,000	$375,102	108	$165,000	$675,000 0 Lakefronts	38%	38%	8 REO’s 6 Short Sales
2010	22	$378,500	$928,810	116	$161,000	$9,500,000 3 Lakefronts	38%	32%	6 REO’s 1 Short Sales
2009	17	$416,000	$577,052	121	$276,000	$1,900,000 1 Lakefront	25%	23.5%	2 REO’s 2 Short Sales 0 Court Approval
2008	23	$570,000	$733,295	135	$309,000	$4,350,000 1 Lakefront	17%	0%	0 REO’s 0 Short Sales
2007	26	$507,250	$599,838	136	$261,500	$685,000 0 Lakefronts	15%	0%	0 REO’s 0 Short Sales
2006	35	$659,000	$1,054,138	115	$310,000	$6,783,333 3 Lakefronts	14%	0%	0 REO’s 0 Short Sales

REO’s = Real Estate Owned, which is the name banks use for their bank foreclosed properties.

Short Sales = Owner does not have the money to pay off all of the debt and asks the debt holders to take less back in order to close the sale.

*YTD period is 01/01/2018 – 12-31-2018.

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS). 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 TSMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change, modification, and/or correction without prior notice.

If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Looking to buy? Want more options? Search Homes for Sale in North Lake Tahoe (North Shore of Lake Tahoe and the West Shore of Lake Tahoe) here:

Want to see other Tahoma Real Estate Market Reports?

Here are recent past market reports for single family home sales for the entire North Lake Tahoe – Truckee homes for the region:

Want to know what is going on in the North Lake Tahoe – Truckee Condo / Townhouse market?

When you’re ready to buy, or sell in the North Lake Tahoe – Truckee Region, call Laura Allen, 530.414.1260, with Coldwell Banker the top real estate brokerage in the Lake Tahoe – Truckee region!

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 Home Values | Market Report – Year End 2018