Laura Allen | 530.414.1260 Broker Associate, CRS Tahoe REALTOR®, Tahoe-Truckee Area, CalBRE#01473598

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Tahoe City Homes for Sale Market Report

Tahoe City Homes for Sale Market Report | Aug-Sept 2016

Here is how the Tahoe City, California real estate market has performed for 2016. Here is the Tahoe City, California homes for sale Market Report for the January 1, 2016 through August 31, 2016* time period.

Tahoe City Homes Sold Market Report | Aug-Sept 2016:

Sold Sales:  Tahoe City area has had 73 single family homes sold for the Jan-Aug 2016 period. The Tahoe City single family home sales price has increased in 2016 with a gain of +7.3% gain in the median homes sales price, which is now at $697,300.

The Tahoe City area only had only two bank foreclosure sales and one notice of trustee sale, which in real terms means 3 out of 73 homes sold was a distressed sale, and in line with normal market conditions.

The median average days on market remains steady at 90 DOM.

Tahoe City Homes For Sale Market Report
Cash Sale Transactions:  The number of cash sale transactions for the Tahoe City area for 2016 has increased to 42%, which is 4 out of every 10 sales, which is impressive.   This cash sales rate is well above the Tahoe-Truckee regional rate of  28.7%.

Distress Sales: Distress sellers (bank foreclosures- Real Estate Owned (REO’s) and short sales) is running at 4.1% of all homes sold in Tahoe City for 2016, which is in the normal range for a market of 1-5% of sales falling into the distressed sales category. Continued reduced sales of short sales and REO/Bank Foreclosures is good news for sellers, but bad news for buyers looking for a deal.

Active Homes for Sale:  There are fifty-two (52) Active– available homes for sale in the Tahoe City area as of 09-14-2016. They ranged in price from $410,000 to $9.980 million.  There are six (6) Tahoe City lakefront homes for sale as of 09/14/2016

The current inventory levels for the Tahoe City area are extremely limited. Of the fifty-two (52) homes offered for sale, there are no short sales, no REO (Bank Foreclosures) or Trustee Sales, or 0% of the current listings are distressed, which is typical for a normal market.

Pending Home Sales:There are twenty-five (25) pending home sales in the Tahoe City area and they range in price from $299,900 to $16,800,000. There are no short sales, or REO/Bank Foreclosures.  There are two lakefront homes that are sale pending.

Tahoe City Homes for Sale Market Report Summary - Multiple Years:

Year

Homes

Sold

Median Average Sales Price

Lowest

Price Sold

Highest

Price Sold

%

Cash

Transactions

%

Distressed

Sales

Breakdown

of distressed

Sales

2016*

73

$697,300

$345,000

$7,103,000

5 Lakefronts

42%

4.1%

2 REO’s

1 Short Sales

2015

105

$650,000

$315,000

$8,199,000

4 Lakefronts

34%

1%

1 REO’s

0 Short Sales

2014

84

$670,000

$290,000

$6,500,000

4 Lakefronts

44%

5%

2 REO’s

3 Short Sales

2013

85

$592,500

$214,000

$6,750,000

3 Lakefronts

37%

38%

1 REO’s

3 Short Sales

2012

109

$568,000

$179,000

$17,250,000

9 Lakefronts

39%

23%

11 REO’s

13 Short Sales

1 Court Approval Sale

2011

64

$555,000

$257,000

$6,450,000

5 Lakefronts

34%

25%

7 REO’s

9 Short Sales

2010

70

$653,000

$219,900

$7,100,000

7 Lakefronts

39%

19%

7 REO’s

6 Short Sale

2009

65

$635,000

$340,000

$6,288,000

4 Lakefronts

26%

17%

5 REO’s

6 Short Sale

2008

50

$741,500

$350,000

$20,000,000

5 Lakefronts

26%

0%

0 REO’s

0 Short Sale

2007

56

$883,500

$525,000

$12,400,000

4 Lakefronts

21%

0%

0 REO’s

0 Short Sale

2006

89

$890,000

$425,000

$16,700,000

6 Lakefronts

18%

0%

0 REO’s

0 Short Sale

 
REO's = Real Estate Owned, which is the name banks use for their bank foreclosed properties. 
Short Sales = Owner does not have the money to pay off all of the debt and asks the debt holders to take less back in order to close the sale.

*YTD period is 01/01/2016 – 08/31/2016. 

Use caution when only a handful of sales are available in a neighborhood. The percent changes can be significant and numbers are easily moved in either direction

Data Source:  Tahoe Sierra Multiple Listing Service (TSMLS). 
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, modification, and/or correction without prior notice. If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

If you’d like more information on the Tahoe City area, or would like to know what your Tahoe City home may be worth, call Laura Allen at 530.414.1260
 
 
 
For all of your Tahoe City real estate needs –
 
BROKER ASSOCIATE, Tahoe Real Estate Agent, Tahoe REALTOR®,
Cal BRE# 01473598
All information is deemed reliable, but is subject to change, and/or correction without notice.
Buyers and Sellers should investigate and verify all information to their own satisfaction.