Talmont, Tahoe City, West Shoe, Lake Tahoe, California Real Estate Market Report – December 2011 - Lake Tahoe

Talmont, Tahoe City, West Shoe, Lake Tahoe, California Real Estate Market Report – December 2011

The Talmont neighborhood of Tahoe City, California is located approximately 3 miles south west of the “Y” in Tahoe City on the West Shore of Lake Tahoe, California.

Talmont Homes for Sale:

The Talmont neighborhood is one of the more developed neighborhoods on the West Shore and is located well above Lake Tahoe. Because of its higher elevation, it is one of the few neighborhoods on the West Shore that is close to Tahoe City that has homes that offer views of Lake Tahoe from the Talmont neighborhood. Take a look at this video.

This area is a nice mix of smaller, older, Tahoe cabins, along with larger, newer luxury mountain homes, with a limited number of lake view properties. Despite the heavier snow fall that the Talmont area receives, this neighborhood is easily accessed all year-long and it is a nice mix of full-time residents and second home owners.

The owners in the Talmont neighborhood gain membership to the Lake Tahoe Park Homeowners Association (also known as Tahoe Park HOA), which gives owners access to over 850’ feet of Lake Tahoe Shore line, a gated beach, BBQ/picnic areas, two shared piers, buoy rental option, and kayak storage rental option. Homeowners in Talmont are also members in the Talmont Improvement District, which provides road and snow maintenance (their roads are nice and wide, but private) and the water supply service to property owners.

Sold Single Family Homes in the Talmont, Tahoe City neighborhood West Shore, Lake Tahoe, California:

In the Talmont, Tahoe City area, mountain home and cabin prices and the number of transactions are down significantly this year. With only two sales completed for 2011, it’s hard to come to any strong conclusions on how much this area has really dropped, but we do know that from 2009 to 2010, home values dropped -18.7%, so we do know that the trend is down, the only question is how much? Currently the average median sales price is at $377,500 with the two sales reported for 2011.

Cash sale transactions for Talmont homes have improved slightly from the 44% rate it was running in 2010.

The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) was at 100%, or both homes sold went into escrow in 7 days or less, sending a message to both buyers and sellers, if a Talmont home, or cabin is priced right, it will be sold quickly.

There have been no closed distress sales (bank foreclosures- real estate owned (REO’s) and short sales) this year so far, but with so few sales taking place, looking at the active listings with 2 short sales, this area is still under pricing pressure from distressed sellers.

There were 11 Active* – available homes for sale in just the Talmont, Tahoe City, West Shore, Lake Tahoe, California area as of 12/06/2011. They ranged in price from $400,000 to $3.3 million, with an average median sales price of $596,000.Of the 11 homes offered for sale there are 2 short sales accounting for 18.2% of the market share. Currently, there is 1 pending sale in the Talmont area as of 12/06/2011, and it is listed for sale at $995,000.

Talmont, Tahoe City, 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	2	$377,500	$370,000	$385,000	50%	100% Both homes were in escrow in less than 7 days	0%	0 REO’s 0 Short Sales
2010	9	$513,000	$335,000	$1,015,000	44.4%	44% almost 1 out of 2	22.2%	2 REO’s 0 Short Sales
2009	9	$631,000	$340,000	$1,870,000	33.3%	22% almost 1 out of 5	22.2%	2 REO’s 0 Short Sales

*YTD period is 01/01/2011 – 11/30/2011.Data Source:Tahoe Sierra Multiple Listing Service.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. If you’d like a copy emailed to you, just write to Laura@TahoeLaura.com and type in the subject line “newsletter”.

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.

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

Talmont, Tahoe City, West Shoe, Lake Tahoe, California Real Estate Market Report – December 2011