Tahoma, West Shore, Lake Tahoe, California Real Estate Market Report – November 2011
The Tahoma neighborhood is located approximately 9 miles south of downtown Tahoe City on the West Shore of Lake Tahoe, California.
The Tahoma area is one of the more developed neighborhoods on the West Shore and is located in two counties – El Dorado County and Placer County. It’s close proximity to Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants makes this a great area for those that enjoy being outdoors.
Not all of those neighborhoods in Tahoma are eligible for the Tahoe Cedars Property Owners Association (TCPOA), but if you are, you can join and have access to a shared pier, and put in for the buoy rental option. For more information on the TCPOA, click here.
This area is one of the most affordable areas on the West Shore, and is a mix of smaller, older, Tahoe cabins, to larger, newer luxury mountain homes, with a limited number of lakefront properties. Despite the heavier snow fall that the West Shore area receives each year, this neighborhood is easily accessed all year-long and is a nice mix of full-time residents and second home owners.
Sold Single Family Homes in the Tahoma neighborhood West Shore, Lake Tahoe, California:
In the Tahoma area, mountain home and cabin prices are down – 24% this year, with the average median sales price at $305,000.While home prices are down, sales for 2011 have already exceeded the number of single family homes and cabins sold in 2010.
Cash sale transactions for Tahoma homes has increased to 44%, indicating buyers are still finding good real estate values in the Tahoe area, and aren’t afraid to place their investment dollars here.
The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) has remained almost unchanged at 28%, or 1 out of every 4 Tahoma homes sold. Sending a message to buyers, if it’s priced right, it will be gone quickly.
Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 36%, or 1 out of every 3 homes sold in 2011, which is a slight increase over last year.
There were 37 Active* – available homes for sale in just the Tahoma, West Shore, Lake Tahoe, California area as of 11/08/2011. They ranged in price from $127,000 to $3.99 million.Of the 37 homes offered for sale there are 1 court approval, 1REO listing, and 10 short sales, accounting for 32% of the market share. There are 7 pending sales in the Tahoma area as of 11/08/2011, ranging in price from $205,900 to $569,000.
Want to know what Tahoma, lakefronts, mountain homes, and cabins are for sale?
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 |
Homes into escrow with in 30 days of being listed in TSMLS |
%Distressed Sales |
Breakdown of distressed Sales |
|
2011 |
25 |
$305,000 |
$165,000 |
$675,000 0 Lakefronts |
44% |
28% More than 1 out of 4 |
36% |
7 REO’s 2 Short Sales |
|
2010 |
21 |
$399,000 |
$161,000 |
$9,500,000 3 Lakefronts |
38% |
29% More than 1 out of 4 |
29% |
6 REO’s 0 Short Sale |
*YTD period is 01/01/2011 – 11/08/2011 .Data Source:Tahoe Sierra Multiple Listing Service.
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.
Overview and summary completed by:
Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304
