Tahoma Homes for Sale Market Report – Year End 2012

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.  Tahoma Homes for Sale Market Report – Year End 2012

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.

For more detailed Tahoma, California real estate housing sales data check out my website which has a table summarizing past market sales data information for 2012, 2011, 2010, 2009, 2008, 2007 and 2006.

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:Tahoma Homes for Sale Market Report – Year End 2012

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.

Tahoma Homes for Sale Market Report – Year End 2012

Tahoma Homes for Sale
Tahoma, CA Lakefront Properties for Sale
New Construction Homes for Sale in Tahoma, CA
Tahoma, CA Lots and Land for Sale
Tahoma, CA Homes for sale under $300,000
Tahoma Homes for Sale $300,000 to $500,000 in price
Tahoma, CA Homes for sale $500,000 to $1 million in price
Tahoma, CA Luxury Homes for sale $1 million to $20 million
West Shore Lakefront Homes for Sale
West Shore Lake Tahoe Homes and Cabins for Sale

For all of your Tahoe real estate needs – Laura Allen, 530.414.1260, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  Laura@TahoeLaura.com  DRE# 01473598 www.TahoeLauraLuxuryHomes.com ,  Coldwell Banker Residential Brokerage, Tahoe City, California.

Tahoma Homes for Sale Market Report – Year End 2012

Tahoma, California Real Estate Market Report September 2012

Tahoma, California Real Estate Market Report September 2012

The Tahoma, California  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, California Real Estate Market Report September 2012

The Tahoma area is one of the more developed neighborhoods and offers some of the most affordable homes on West Lake Tahoe.

Tahoma offers a mix of smaller, older, Tahoe cabins, to larger, newer luxury mountain homes, with a limited number of lakefront properties.  Tahoma is located next to the Sugar Pine Point State Park and is close to the Homewood Ski Resort area.

Tahoma is easily accessed all year-long and is a nice mix of full-time residents and second home owners.

Tahoma Sold Single Family Homes Market Report:

Tahoma home prices are down again for 2012, with the average median sales price at $250,000.

This price drop is attributed to the significant increase in distressed sellers (REO’s /Bank Foreclosures and Short Sales), which accounts for more than 62% of all sales in 2012.  What is interesting about this increase in distressed sales is 75% of those transactions closed prior to May 18, 2012.

Tahoma, California Real Estate Market Report September 2012

Cash sale transactions for Tahoma homes has increased to 69%, which is well above the Tahoe-Truckee regional average of 34%.  This is a strong indication that the Tahoma area is a real estate value play, and buyers are not afraid to place their investment dollars here.

The current absorption rate for the Tahoma area is at 8 months.  Anything above 7 months of inventory is considered a Buyers’ Market.  The first step to turning the Tahoma market around is reducing the number of distressed sellers.

Distress sales (REO’s/Bank Foreclosures and short sales) accounted for 62% of all Tahoma sales. That’s more than half of all the homes sold in 2012 in Tahoma were distressed.  This is a 24% increase over 2011 levels.

Tahoma, California Real Estate Market Report September 2012There were 24 homes available for sale in the Tahoma, California area as of 10/01/2012.  This is an inventory drop of -13% over the past 11 months, when there were 37 active available homes for sale.  The homes currently available for sale range in price from $169,900 to $13.5 million.

Of the 24 homes offered for sale there is 1 REO/Bank Foreclosure listing, and 1 short sale, which is now only 8% of the market.

This is a significant improvement in the number of distressed sellers, and represents a small fraction of the total distressed sales for 2012.  There are currently 4 pending sales in the Tahoma area as of 10/01/2012, ranging in price from $229,000 to $475,000.  Two of the pending sales are REO/Bank Foreclosure sales.

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

Absorption Rate

< 5   months Sellers Mkt

5-7 months   balanced Mkt

>7   months Buyer’s Mkt

Distressed

Sales

Breakdown

of

Distressed

Sales

2012*

29

$250,000

$76,000

$3,435,000

1 Lakefronts

69%

8 months

Buyers’ Market

62%

12 REO’s

6 Short Sales

2011

37

$351,000

$165,000

$675,000

0 Lakefronts

38%

NA

38%

8 REO’s

6 Short Sales

2010

21

$399,000

$161,000

$9,500,000

3 Lakefronts

38%

NA

29%

6 REO’s

0 Short Sales

2009

20

$437,250

$276,000

$1,900,000

1 Lakefront

25%

NA

30%

3 REO’s

2 Short Sales

1 Court Approval

2008

23

$570,000

$309,000

$4,350,000

1 Lakefronts

17%

NA

0%

0 REO’s

0 Short Sales

2007

26

$507,250

$500,000

$685,000

0 Lakefronts

15%

NA

0%

0 REO’s

0 Short Sales

2006

35

$659,000

$310,000

$6,783,333

3 Lakefronts

14%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2012 – 09/30/2012.  Data Source:  Tahoe Sierra Multiple Listing Service.  Absorption rate based on 30 day period of time as of 10/01/2012.  Data subject to change and/or correction at any time without notice.

Tahoma Homes for Sale
Tahoma, CA Lakefront Properties for Sale
Tahoma, CA Lots and Land for Sale
Tahoma, CA Homes for sale under $300,000
Tahoma Homes for Sale $300,000 to $500,000 in price
Tahoma, CA Homes for sale $500,000 to $1 million in price
Tahoma, CA Luxury Homes for sale $1 million to $20 million
West Shore Lakefront Homes for Sale
West Shore Lake Tahoe Homes and Cabins for Sale

Tahoe Real Estate Market report for the Tahoma, California area – September 2012

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com   Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Tahoma, California Real Estate Market Report September 2012