Tahoe City Home Values | Market Report - Year End 2018
Looking for sold, year-end 2018 single family home market data for the Tahoe City area? Here is the year-end 2018 review for Tahoe City.
The Tahoe City real estate market conditions continue to be strong, and favor Sellers.
Inventory levels of available homes for sale in Tahoe City remain critically low and limited with Buyers having very few buying options most price points. On January 13, 2019 there were only 23 home for sale.
- Tahoe City Homes for Sale under $300,000
- Tahoe City Homes for Sale under $400,000
- Tahoe City Homes for Sale under $500,000
- Tahoe City Homes for Sale under $600,000
- Tahoe City Homes for Sale under $700,000
- Tahoe City Homes for Sale under $800,000
- Tahoe City Homes for Sale under $900,000
- Tahoe City Homes for Sale under $1 million
- Tahoe City Luxury Homes for Sale
- Tahoe City Waterfront Homes for Sale
Single family home prices move up significantly in 2018, and part of that increase was because we had a number of record lakefront sales on both the West Shore of Tahoe City, and the North Shore of Tahoe City. Tahoe City lakefront home sales ranged from $2.8 million to a high of $22+ million on the North Shore of Tahoe City. On the West Shore of Tahoe City, the sales prices were even more impressive with a low of $4,750,000 to a record cash sale of $40 million.
The volume of Tahoe City lakefront home sales also increased from one (1) in 2017 to eleven (11) in 2018, a reflection of just how strong the luxury, high-end Tahoe City market was last year.
You can see on the graph below that the over-all Tahoe City home price trend for the average median home sold sales price move up.
The Tahoe City single family home prices were up +14.2% for 2018, with a median average sales price of $825,000 (TSMLS Areas 3-4).
A common question I am often asked by Buyers and Sellers is:
- "What percentage of the listed price are Sellers getting on their Tahoe property?"
In 2018, Sellers realized 99.5% of the their listed price to the sold average median sales price in the greater Tahoe City area (MLS Areas 3-4).
This is higher than the over-all region, which was slightly lower at 98.9%.
In every day terms, this means Sellers are very close to their full asking price, if they have priced their property correctly.
It also means Tahoe Buyers that want to low-ball, or be really aggressive on their offered price are going to have a hard time in this market.
Real Estate Market Homes Sold Activity for the Tahoe City Area:
Year-End 2018 YTD Period: 01-01-2018 to 12-31-2018 | MLS Areas 3-4
- Number of Homes Sold in Tahoe City: 113
- Median Average Sold Sales Price for Tahoe City: $825,000
- Average Sold Sales Price in Tahoe City: $2,330,726
- Sold Price Range in North Lake Tahoe - Truckee: $425,000 - $40 Million
- Percent (%) List to Sold Price Ratio: 99.5%
- Average Days on Market (DOM in MLS): 67 DOM
- Number of Active and Available Homes for Sale in Tahoe City as of 01-13-2019: 23 (TSMLS Areas 3-4)
- Pending Home Sales in Tahoe City as of 01-13-2019: 2
- Number of Distressed Available Listing – As of 01-13-2019: Zero (0) listings: Zero (0) Court Approval, Zero (0) Short Sale, Zero (0) REO|Bank Foreclosures (MLS Areas 3-4)
Other interesting Tahoe City single family home market observations:
Days on Market (DOM) remained almost unchanged from 2017 to 2018. For 2018 is the number of days on the market for single family homes is now at 67 days, which is up 1 day from 2017, but is down 26% from the 90 DOM in 2016.
The shorter the marketing time for a home, the stronger the market is for Sellers.
Inventory - Current inventory levels are critically low. Again, another sign of the market favoring Sellers.
High Number of Lakefront Home Sales - The high number of lakefront sales in 2018 may have distorted the over-all increase for our non-lakefront home values given that the North Lake Tahoe - Truckee regional single family home prices were up +7.45% for 2018, with a median average sales price of $721,000 (TSMLS Areas 1-9). As a result, I recommend looking the the entire North Lake Tahoe - Truckee Region for market trends. North Lake Tahoe - Truckee Home Values | Market Report - Year End 2018
If you already own a home in the Tahoe area and want to know what is your property is now worth? Call me call Laura Allen, 530.414.1260, for a confidential consultation.
Tahoe Home Buyers should do the following:
- See new listings as soon as possible. Tahoe second home Buyers should try to driving up the next day to see the property and not wait until the weekend.
- Ready, set, go! Be prepared to make a buying decision immediately.
- Work with an experienced local Tahoe Real Estate Agent. They understand the market conditions, and many Buyer Agents know how the other side negotiation tactics.
- If you will need a loan, make sure your lender has approved you. You will need to move quickly and not having your loan lined up will put you at a disadvantage.
- If you are buying a condo or townhome in the area, make sure you are using a local lender. Using a local lender that has recently processed a loan in the complex you want to buy in will do two things for you. One, you will have the confidence that the lender has already reviewed their HOA docs and previously approved the development, increasing your odds of the same outcome. Second, Sellers that know you have selected a lender with this experience will give you extra credit for knowing your lender is ready to go on their property.
If you want more long-term real estate data, check out the following table that has a lot of data going back over ten years.
I've included both the average median sales price and average sales price (in some cases there is a significant difference between the two, but the trends are the same direction for both) are included for each year in the following table.
Tahoe City Sold Single Family Homes MLS Areas 3-4 | 01/01 – 12/31/2018
(This table is best viewed on a laptop, desktop, or a device with a larger screen.)
|Year||Homes Sold||Median Average Sales Price||Average Sales Price||DOM Days On Market||Lowest Price Sold||Highest Price Sold||% Cash Transactions||% Distressed Sales||Breakdown of distressed Sales|
|2018*||113||$825,000||$2,330,726||67||$435,000||$40,000,000 11 Lakefronts||30%||0%||0 REO’s 0 Short Sales|
|2017||90||$722,500||$878,560||66||$299,900||$7,000,000 1 Lakefronts||26%||3.3%||3 REO’s 0 Short Sales|
|2016||120||$705,000||$1,209,682||90||$330,000||$17,500,000 7 Lakefronts||37%||2.5%||2 REO’s 1 Short Sales|
|2015||105||$650,000||$989,403||90||$315,000||$8,199,000 4 Lakefronts||34%||1%||1 REO’s 0 Short Sales|
|2014||84||$670,000||$1,064,987||76||$290,000||$6,500,000 4 Lakefronts||44%||5%||2 REO’s 3 Short Sales|
|2013||85||$592,500||$831,934||99||$214,000||$6,750,000 3 Lakefronts||37%||38%||1 REO’s 3 Short Sales|
|2012||109||$568,000||$1,100,159||119||$179,000||$17,250,000 9 Lakefronts||39%||23%||11 REO’s 13 Short Sales 1 Court Approval Sale|
|2011||64||$555,000||$932,290||134||$257,000||$6,450,000 5 Lakefronts||34%||25%||7 REO’s 9 Short Sales|
|2010||70||$653,000||$1,121,282||123||$219,900||$7,100,000 7 Lakefronts||39%||19%||7 REO’s 6 Short Sale|
|2009||65||$635,000||$936,142||146||$340,000||$6,288,000 4 Lakefronts||26%||17%||5 REO’s 6 Short Sale|
|2008||50||$741,500||$1,501,905||137||$350,000||$20,000,000 5 Lakefronts||26%||0%||0 REO’s 0 Short Sale|
|2007||56||$883,500||$1,495,640||136||$525,000||$12,400,000 4 Lakefronts||21%||0%||0 REO’s 0 Short Sale|
|2006||89||$926,000||$1,429,484||100||$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 01/01/2018 – 12-31-2018.
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 TSMLS'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.
Looking to buy? Want more options? Search Homes for Sale in North Lake Tahoe and the Truckee area (below) by price range here:
- North Lake Tahoe Homes for Sale under $300,000
- North Lake Tahoe Homes for Sale under $400,000
- North Lake Tahoe Homes for Sale under $500,000
- North Lake Tahoe Homes for Sale under $600,000
- North Lake Tahoe Homes for Sale under $700,000
- North Lake Tahoe Homes for Sale under $800,000
- North Lake Tahoe Homes for Sale under $900,000
- North Lake Tahoe Homes for Sale under $1 million
- North Lake Tahoe Luxury Homes for Sale
- Truckee Homes for Sale under $300,000
- Truckee Homes for Sale under $400,000
- Truckee Homes for Sale under $500,000
- Truckee Homes for Sale under $600,000
- Truckee Homes for Sale under $700,000
- Truckee Homes for Sale under $800,000
- Truckee Homes for Sale under $900,000
- Truckee Homes for Sale under $1 million
- Truckee Luxury Homes for Sale
Want to see other Tahoe City Market Reports?
- Tahoe City Home Values Market Report | September 2017
- Tahoe City Home Values Market Report | August 2016
- Tahoe City Home Values Market Report | March 2016
- Tahoe City Home Values Market Report | November 2013
- Tahoe City Home Values Market Report | May 2013
- Tahoe City Home Values Market Report | Year End 2012
- Tahoe City Home Values Market Report | March 2012
Here are recent past market reports for single family home sales for the entire North Lake Tahoe - Truckee homes for the region:
- North Lake Tahoe - Truckee Home Values | Market Report - Year End 2018
- North Lake Tahoe - Truckee Home Values | Market Report - Mid Year 2018
- North Lake Tahoe - Truckee Home Values | Market Report - 2017
- North Lake Tahoe - Truckee Condo Townhome Values | Market Report - Year End 2018
- North Lake Tahoe - Truckee Condo Townhome Values | Market Report - Mid Year 2018
- North Lake Tahoe - Truckee Condo Townhome Values | Market Report - 2017