Tahoma Homes for Sale Market Report – Year End 2012 - Lake Tahoe

Tahoma Homes for Sale Market Report – Year End 2012

It’s that time of year to review how the Tahoma, California real estate market has performed. Here is the Tahoma, California homes for sale Year End 2012 Market Report.

Tahoma Sold Market Report – Year End 2012:

Sold Sales: Tahoma had 36 single family homes sold in 2012, which is almost the same number of homes sold in 2011.

Tahoma single family home sales price declined -26% with an average median homes sales price of $259,750.

Most of the price decline occurred earlier in the year when the community had a number of short sales and REO/Bank Foreclosure properties on the market. It’s important to note that 16 of the 19 distressed home sales that closed in 2012 in Tahoma, were listed prior to May 15, 2012. The current reduction in distressed sellers is good news for sellers and price stabilization should occur in 2013.

The median average days on market was 80 DOM.

Cash Sale Transactions: The number of cash sale transactions for the Tahoma area has decreased to 28%, which is well below the Tahoe- Truckee Regional average of 34%, or 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 5.5 months, which indicates a Balanced market as of 01/19/2013.

Distress Sales: Distress sellers (bank foreclosures- real estate owned (REO’s) and short sales) increased to 56% of all homes sold in 2012, which is a primary reason for the continued price decline in the Tahoma market. With the absence of short sales and REO/Bank Foreclosures no longer dominating the Tahoma market, we can expect prices to stabilize and move up.

Active Homes for Sale: There are only 11 Active– available homes for sale in the Tahoma area as of 01/19/2013. They ranged in price from $169,900 to $699,000, with an average median asking sales price of $399,907.

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 is turning around.

Pending Home Sales: There are five (5) pending home sales in the Tahoma area and they range from $165,000 to $459,500. 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.

Need more home buying options? How 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 – Year End 2012