Tahoma Homes for Sale Market Report – May 2013

It’s that time of year to review how the Tahoma, California real estate market has performed from January 1, 2013 through May 27, 213. Here is the Tahoma Homes for Sale real estate market report.

Tahoma Sold Market Report – May 2013:

Sold Sales: Tahoma had 14 single family homes sold in 2013 (January 1 , 2013 through May 27, 2013).

Tahoma single family home sales price increased +37% with an average median homes sales price of $356,250, which erased all losses from 2011 in the Tahoma neighborhood, and puts the average median homes sales price above 2011 price levels!

The median marketing time a Tahoma home was on the market for sale was 90 DOM (days on market).

Cash Sale Transactions: The number of cash sale transactions for the Tahoma area remains steady at 29%, or just a little more than 1 out of every 4 home sold in Tahoma area was a cash buyer.

Absorption Rate: The current absorption rate for the Tahoma area is at 4.6 months, which indicates a Sellers’ Market as of 05/27/2013.

Distress Sales: Distressed sellers (bank foreclosures- real estate owned (REO’s) and short sales) has had a major drop to only 14% of all sales. This is down from the 56% rate in 2012, or the 38% rate for distressed sellers in 2011. A strong signal that there has been a significant change in the market conditions in Tahoma. California.

This reduction in the number of distressed sellers combined with a shortage of homes for sale are primary reasons for the significant market price improvement in the Tahoma market. With the continued absence of short sales and REO/Bank Foreclosures no longer dominating the Tahoma market, we can expect prices to continue to move up.

Active Homes for Sale: There are only 23 Active– available homes for sale in the Tahoma area as of 05/27/2013. They ranged in price from $199,000 to $7,499,500 with an average median asking sales price of $549,000.

The inventory levels for the Tahoma area are extremely limited. Of the 11 homes offered for none (Zero – 0) short sales, and no (Zero – 0) REO (Bank Foreclosure) listings, – 0% of the current listings are distressed, which is a clear sign that the Tahoma market has stabilized and has turned around.

Pending Home Sales: There are eight (8) pending home sales in the Tahoma area and they range from $169,900 to $799,000. There is one (1) is a short sale, and no (Zero -0) REO/Bank Foreclosures.

If you’d like more information on the Tahoma area, or would like to know what your Tahoma area home, cabin, or lakefront home may be worth, call Laura Allen at 530.414.1260.

More about Tahoma, California:

The Tahoma 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 is located next to the Sugar Pine Point State Park, which is a wonderful year-around area to visit.

The Tahoma area is one of the more developed neighborhoods and offers some of the most affordable homes on West Lake Tahoe. Tahoma is easily accessed all year-long and is a nice mix of full-time residents and second home owners. Some of the more well-known neighborhoods in the Tahoma, California area are:

If you’re looking to get away from it all and want a wonderful Lake Tahoe experience, check out the Tahoma community on the West Shore of Lake Tahoe.

Thinking about making the the West Shore of Lake Tahoe your second home?

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 Homes for Sale Market Report – May 2013