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South Lake Tahoe, CA Real Estate Update by Neighborhood

By Gary Bolen

Real Estate Agent with McCall Realty

April 28, 2011 10:27 AM

South Lake Tahoe, CA housing demand by neighborhood since 2003

The Top Five Home Selling South Lake Tahoe Neighborhoods

(Lake Tahoe Real Estate Blog / April 23, 2011 / Richard Bolen)

Here's 2011 South Lake Tahoe, CA housing demand by neighborhood.

All major South Lake Tahoe, CA neighborhoods are here; there are only a few sales not included. These are in a few areas and subdivisions with rare sales, of which there were only 9 sales in all four of them last year.

The charts below are the source of this information:

The five neighborhoods with the most number of houses are: (and these numbers are approximate)

1. Bijou 1 & 2: 1,400
2. North Upper Truckee 1 & 2: 1,325
3. Sierra Tract: 1,010
4. Montgomery Estates: 925
5. Tahoe Keys: 900

The top five neighborhoods with the most 2011 houses sold to date are:

1. Sierra Tract: 14
2. North Upper Truckee 1 & 2: 13
3. Tahoe Keys: 13
4. Gardner Mountain: 12
5. Montgomery Estates: 12

The five neighborhoods with the most 2010 houses sold are:

1. Tahoe Keys: 54
2. North Upper Truckee 1 & 2: 51
3. Bijou 1 & 2: 47
4. Al Tahoe: 40
5. Sierra Tract: 39

The five neighborhoods with the most houses sold in the last 4 years (since Jan 1, 2008):

1. Bijou 1 & 2: 146
2. Tahoe Keys: 131
3. North Upper Truckee 1 & 2: 128
4. Sierra Tract: 115
5. Tahoe Paradise: 105

The top five neighborhoods with the most distressed sales in 2011 are:

1. Sierra Tract: 12
2. Gardner Mountain: 9
3. Bijou 1 & 2: 8
4. Montgomery Estates: 6
5. Pioneer Trail: 6

The top five neighborhoods with the most distressed sales in 2010 are:

1. Bijou 1 & 2: 25
2. Sierra Tract: 24
3. North Upper Truckee 1 & 2: 23
4. Pioneer Trail: 19
5. Al Tahoe: 18

The top top five neighborhoods with the greatest percentage of 2011 total homes sold to date:

1. Sierra Tract: (9.7%)
2. Tahoe Keys: (9.0%)
3. North Upper Truckee 1 & 2: (9.0%)
4. Montgomery Estates: (8.3%)
5. Gardner Mountain: (8.3%)

The top five neighborhoods with the greatest percentage of 2010 home sales:

1. Tahoe Keys: (10.7%)
2. North Upper Truckee 1 & 2: (10.1%)
3. Bijou 1 & 2: (9.3%)
4. Al Tahoe: (7.9%)
5. Sierra Tract: (7.7%)

What's above makes sense, especially since most all of the neighborhoods cited are those with the greater number of houses. Taking that into consideration, lets look at some percentages of sales based on neighborhood density. This we think is a helpful comparison.

The top five neighborhoods with the greatest percentage of 2011 home sales to date compared to the total number of homes in the neighborhood:

1. Gardner Mountain: (2.1%)
2. Pioneer Trail: (1.6%)
3. Black Bart: (1.5%)
4. Tahoe Keys: (1.5%)
5. Sierra Tract: (1.4%)

The top five neighborhoods with the greatest percentage of 2010 home sales to date compared to the total number of homes in the neighborhood:

1. Tahoe Paradise: (6.6%)
2. Tahoe Keys: (6.2%)
3. Black Bart: (5.0%)
4. Pioneer Trail: (4.8%)
5. Tahoe Island Drive: (4.7%)

ABOUT PRICE:

The top five neighborhoods with the highest 2011 median sold price:

1. Tahoe Keys: $669,000
2. North Upper Truckee 1 & 2: $549,000
3. Country Club Estates: $485,000
4. Black Bart: $419,000
5. Montgomery Estates: $411,250

The top five neighborhoods with the highest 2010 median sold price:

1. Tahoe Keys: $675,000
2. Montgomery Estates: $496,500
3. Heavenly Valley: $454,300
4. Country Club Estates: $428,000
5. North Upper Truckee 1 & 2: $390,000

The top five 2011 neighborhoods with the most affordable median sold price for home buyers:

1. Stateline Area: $143,000
2. Y Area: $180,000
3. Sierra Tract: $187,750
4. Bijou $215,000
5. Gardner Mountain: $225,375

The top five 2010 neighborhoods with the most affordable median sold price for home buyers:

1. Stateline Area: $169,250
2. Sierra Tract: $188,000
3. Y Area: $215,000
4. Black Bart: $227,500
5. Tahoe Island Park: $235,000

The top five neighborhoods with the greatest median sold price decline thus far this year compared to that of 2010.

1. Montgomery Estates: -$85,000, or 17.2 down
2. Tahoe Paradise: -$85,200, or 23% down
3. Heavenly Valley: -$55,863, or 12.3% down
4. Gardner Mointain: -$49,125, or 17.9% down
5. Highland Woods: -$46,800, or 15.7% down

The top five neighborhoods with the greatest median sold price increase thus far this year compared to that of 2010.

1. Black Bart: $191,500, or 84.2% up (based on only 3 sales though)
2. North Upper Truckee 1 & 2: $169,000, or 44.5% up (based on 13 sales)
3. Country Club Estates: $57,000, or 13.3% up (based on 7 sales)
4. Meyers: $51,500, or 19.4% up (based on 4 sales)
5. Christmas Valley: $8,250, or 2.3% up% (based on 6 sales)

This chart is the source material for this study: (see it in full size here)

South Lake Tahoe, CA housing demand since 2008