West Lake Tahoe, CA Condo – Townhouse Real Estate Trends Year 2013

It’s that time of year to see how the West Lake Tahoe Condo and Townhouse real estate market performed in 2013.

In addition to seeing 2013 West Lake Tahoe condo and townhouse real estate market data results, there are also some current real estate market trends and data for 2014. This is my local view of how the West Shore of Lake Tahoe condo and townhouse community is really doing in the housing market.

The West Lake Tahoe area is defined as beginning at Fanny Bridge in Tahoe City, also known as the “Y” and moving south along the West Shore of Lake Tahoe (Highway 89 South) and ending in Rubicon Bay.

This area covers just over thirteen (13) miles and this report is for condo/townhouse developments that are located in West Lake Tahoe – Tahoe City (West Shore), Homewood, and Tahoma, CA. There are no condo/townhouse developments in either Meeks Bay, or Rubicon Bay, CA.

Many Tahoe condo buyers may not realize how few condo, or townhouse units were built in the entire West Lake Tahoe area. There are only ten (10) developments located along the West Shore of Lake Tahoe with an estimate of less than 550 units for the entire area.

In those ten (10) condo/townhouse developments, six (6) are lakefront developments, one (1) is a ski/tennis resort, one (1) is a lakeside development, and two (2) are mountain-side developments. Since the condo/townhouse developments are so limited on the West Shore, condo/townhouse units often command a significant market premium relative to other locations around the lake.

It is estimated from Placer County and El Dorado County records that approximately 538 condo and townhouse developments were built on the entire West Shore of Lake Tahoe. Of those units, there are approximately 348 units located in lakefront developments, and 190 units in mountain-side non-lakefront developments.

At any one given time, you can expect the current supply of condos or townhouses for sale on West Lake Tahoe to be extremely limited. It isn’t uncommon for less than a dozen units to be listed for sale and on the market at any one given time.

The average sales price for 2013 was $1,202,166, which is a 11.6% increase over the average sale price of $1,077,264 for 2012. This increase follow the over-all market trend for the area, which is positive and on the rise!

Current Real Estate Inventory for Condos and Townhomes on West Lake Tahoe, California for the year 2013:

West Lake Tahoe Condo and Townhouses Available for Sale as of 01-26-2014:

7 Condos and Townhouses are currently listed for sale – Standard Sale

0 Condos and Townhouses are currently listed for sale – Short Sale

0 Condos and Townhouses are currently listed for sale – Bank owned/foreclosed – REO (Real Estate Owned)

1 Condos and Townhouses are currently listed for sale – Court Approval

$269,000 to $6,499,000 is the Price Range of Condos and Townhouses listed for sale

$1,850,000 Average Median Listed Sales Price for Condo and Townhouses Currently on the Market for Sale

$2,428,857 Average Listed Sales Price for Condo and Townhouses Currently on the Market for Sale

179 DOM (Days on Market) for Condo and Townhouses on the Market for Sale

West Lake Tahoe Condo and Townhouse Pending Sales as of 01-26-2014

0 Condo and Townhouse Pending Sale – (Under Contract and in Escrow)

NA – Price Range of Condo and Townhouses listed for sale

NA – Average Median Listed Sales Price for Condo and Townhouse – Pending Sales

NA – Average Listed Sales Price for Condo and Townhouse – Pending Sales

NA DOM (Days on Market) for Condos and Townhouses on the Market for Sale

West Lake Tahoe Condos and Townhouses Sold for 2013 (01/01/2013 – 12/31/2013)

15 Condo and Townhouse Sold in 2013

$120,000 – $3,900,000 is the Price Range of Condos and Townhouses Sold in 2013

$965,000 Average Median Sold Sales Price for Condos and Townhouse – Sold (96.9% of List/Sold Price)

$1,202,166 Average Sales Price Sold for Condos and Townhouses – Sold (95.6% of List/Sold Price)

151 DOM (Days on Market) for Condo and Townhouses on the Market for Sale

46.7% were Cash Sales or almost 1 out of every 2 Condos or Townhouses sold was a cash buyer

West Lake Tahoe Condominium or Townhouse Developments		Check to See if Any Units Are For sale Here	2013 # Units Sold	2012 # Units Sold	2011 # Units Sold	2010 #Units Sold
Total Units Sold			15	17*	12	15
Cedar Point, Tahoe City, CA	Lakefront Development	Condos for Sale Cedar Point	0	0	0	0
Chambers Landing, Homewood, CA	Lakefront Development	Condos for Sale Chambers Landing	3	5	1	5
Fleur du Lac, Homewood, CA	Lakefront Development	Condos for Sale Fleur du Lac	2	1	0	0
Granlibakken Resort, Tahoe City, CA	Mountain-side Development	Condos for Sale Granlibakken Resort	5	4	4	3
Sugarpine Lakeside, Tahoma, CA	Lakeside Development	Condos for Sale Sugarpine Lakeside	0	1	0	0
Sugarpine Parkside, Tahoma, CA	Mountain-side Development	Condos for Sale Sugarpine Parkside	2	1	0	0
Tahoe Tavern, Tahoe City, CA	Lakefront Development	Condos for Sale Tahoe Tavern	0	2	5	4
Tavern Shores, Tahoe City, CA	Lakefront Development	Condos for Sale Tavern Shores	3	1	1	1
212 Tahoe Woods Blvd., Tahoe City, CA	Mountain-side Development	Condos for Sale 212 Tahoe Woods Blvd.	0	0	0	1
Water’s Edge, Tahoma, CA	Lakefront Development	Water’s Edge Condos for Sale	0	0	1	1

* Includes Condo Sale on Cathedral, a 2-unit condo complex.

All of the West Lake Tahoe Condo and Townhouse data comes from the Tahoe Sierra Board of REALTORS® data base and is subject to change and/or correction without notice.

The West Lake Tahoe real estate market conditions are local. Talk to a local Tahoe real estate agent / Tahoe REALTOR® to get the most up-to-date neighborhood and market conditions if you are considering buying, or selling.

Need to expand your condo search? Check out the condos for sale on the North Shore Lake Tahoe here:

Need more help in trying to figure out your Lake Tahoe – Truckee home/condo buying options?

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

West Lake Tahoe, CA Condo – Townhouse Real Estate Trends Year 2013