North Lake Tahoe Homes for Sale, Real Estate Market Report, May 2012

North Lake Tahoe homes for sale are known for their central location, easy access, and all-day sunshine.  This area has approximately 11 miles of Lake Tahoe shoreline and starts in Tahoe City, California where Highway 89 South meets Highway 28 ending in Kings Beach at the California – Nevada Stateline. 

North Lake Tahoe is made up of several communities and all are located in unincorporated Placer County, California.  This area is close to the popular ski resorts – Northstar, Alpine Meadows, and Squaw Valley.  This area is also close to biking, hiking, golf courses, restaurants, shopping, and all of the water sports that Lake Tahoe is known for.

Each year visitors come to North Lake Tahoe to experience the beauty and amazing outdoor lifestyle the area has to offer.  North Lake Tahoe has a number of popular public beaches and parks that are maintained by either the Tahoe City Public Utility Department, or the North Tahoe Public Utility Department.

Well known neighborhoods and communities in North Lake Tahoe include:  Tahoe City, The Highlands, Dollar Point, Cedar Flat, Ridgewood, Carnelian Bay, Agate Bay, Tahoe Vista, and Kings Beach.

 

Sold Single Family Homes in North Lake Tahoe, California:

In North Lake Tahoe, California, lakefronts, mountain homes, and cabin prices averaged $360,500, which was a -14% drop in price from 2010.  Remember we are comparing the first 4 months of the year, to the entire 12 month period of 2012 and sales data is always trailing current market conditions.  Since the market peak in 2006, the average median home sales price on North Lake Tahoe has dropped -50%.  

There were 48 single family homes sold for the first 4 months in 2012.  Of those sales, 5 were lakefronts ranging in sold price from $900,000 to $8,600,000.  North Lake Tahoe luxury lakefront sales were 10% of the market.  Homes sold up to $499,999 represented 73% of the market.          

Cash sale transactions for North Lake Tahoe area are up slightly to 42%, which is above the Lake Tahoe – Truckee, California regional trend of 34%.   

The current absorption rate for North Lake Tahoe, as of 05/08/2012 is at 8.9 months.  Anything above 7 months of inventory is considered a Buyers’ market, 5-7 months is a balanced market, and below 5 months is a sellers’ market.  If the inventory levels continue to drop, the North Lake Tahoe market will become a balanced market.         

There were 24 distressed sales (bank foreclosures- real estate owned (REO’s) and short sales), or 50% of the market was a distressed sale for the first four months of 2012.  As of 05/08/2012 only 20% of the active homes available for sale were currently distressed sellers, which is a significant improvement, and may be signaling a fundamental change in market conditions.   

There were 98 Active – available homes, cabins, and lakefronts for sale on North Lake Tahoe as of 05/08/2012.  The North Lake Tahoe available inventory has dropped -16% over the past 60 days.  Homes, cabins, and lakefronts ranged in price from $99,999 to $6,985,000.  Of the 98 homes offered for sale there were 3 REO listings, 16 short sale listings, and 1 court approval listing which represents 20% of the market as a distressed seller, which is a 6% improved over past 60 days.  There were 22 pending sales on North Lake Tahoe ranging in listed price from $127,500 to $1,500,000 as of 05/8/2012.

Given the tight, North Lake Tahoe housing inventory situation, the next step for the North Shore market will be price stabilization.

North Lake Tahoe, California Homes for Sale, 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*	48	360,500	80,000	$8,600,000	42%	8.9 Months Buyers’ Market	50%	13 REO’s 11 Short Sales
2011	140	$420,000	$120,000	$6,450,000	39%	NA	32%	24 REO’s 21 Short Sales
2010	152	$430,000	$106,500	$10,000,000	36%	NA	35%	29 REO’s 23 Short Sale 1 Court Approval
2009	119	$475,000	$130,000	$6,000,000	26%	NA	29%	17 REO’s 16 Short Sales 1 Court Approval
2008	85	$590,000	$115,000	$5,915,000	16%	NA	0%	0 REO’s 0 Short Sales
2007	99	$675,000	$250,000	$12,500,000	17%	NA	0%	0 REO’s 0 Short Sales
2006	149	$715,000	$225,000	$6,300,000	18%	NA	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2012 – 04/30/2012.  Absoprtion rate as of 05/08/2012.  Data Source:  Tahoe Sierra Multiple Listing Service (TSMLS) TSMLS Areas 1-3 and is subject to change and/or correction without notice.  

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North Lake Tahoe Real Estate for Sale.

Need help buying or selling, call me, I can help you! 

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

North Lake Tahoe Homes for Sale, Real Estate Market Report, May 2012

 

Laura A. Allen
BROKER ASSOCIATE
REALTOR®, DRE# 01473598
CRS, RSPS, ABR®,
Certified Preview Property Specialist
COLDWELL BANKER RESIDENTIAL BROKERAGE
Owned and Operated by NRT WEST, INC. DRE# 01908304
Tahoe City, CA  96145
(530) 414-1260  Phone
(530) 583-2852  Fax
Laura@TahoeLaura.com
www.TahoeLauraLuxuryHomes.com