Market Conditions North and West Shores

We constantly hear talk in the media about the woes in real estate market and the mortgage meltdown, but for the most part the picture is painted with a broad brush, often reflecting national or state perspective. Real Estate is local and despite our perception of the grim situation - every market is different. According to the National Association of Realtors One-third of the homes sold in 2007 were to second-home buyers and investment properties. The Lake Tahoe basin falls into that category.

Second homes make up a significant portion of the overall housing market, accounting for more than one-third of all residential transactions in 2007. This is especially true in resort areas such as Lake Tahoe. Locally, over 75% of Lake Tahoe homes are owned by absentee owners - purchased as vacation retreats, retirement homes or investment properties.

HOME PRICES – Still a Bargain

Lake Tahoe property is still a bargain compared to other destination resorts. The average sold price in Aspen, CO in Sept. 2007 was $4,219,872. In Park City Utah average sold price in Sept. 2007 was $1,091,407. In Vail, CO the average sold price in Sept. 2007 was $1,441,766. Lake Tahoe real estate is still a bargain when compared to California as whole, The median price of an existing, single-family detached home in California during March 2008 was $$413,980 according to the California Association of Realtors®.

Sampling of the CURRENT MARKET STATISTICS as of May 10, 2008

If you wish particulars on any specific area, please send an email to Info@TahoeHomeOnline.com and we would be happy to forward the information.

SINGLE-FAMILY HOMES

Brockway, Tahoe Vista areas

Active

60 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Price range: $325,000 to $6,500,000

Rooms: 2 bedroom, 1 bath to 4 bedrooms, 4.5 baths.

Size range: from 1,012 sq. ft. to 8,800 sq. ft. of living space

The median price of these active listings is $649,950.

Average days on market: 144

Brockway, Tahoe Vista areas

Solds January 1, 2008 – May 10, 2008

17 single-family homes sold

Average days on market: 80

The median price of these sold listings is $442,200.

Average days on market: 131

Carnelian Bay, Lake Forest and Ridgewood area areas

Active

34 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Price range: $325,000 to $6,500,000

Rooms: 1 bedroom, 1 bath to 5 bedrooms, 6.5 baths.

Size range: from 990 sq. ft. to 3,856 sq. ft. of living space

Average days on market: 201

The median price of these active listings is $822,000. 

Sold Single-family homes January 1, 2008 – May 10, 2008

6 Single-family homes sold

Average days on market: 77

The median price of these active listings is $575,000.

Dollar Point, Highland Green, Tahoe City Terrace areas

Active

41 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Price range: $459,900 to $6,975,000

Rooms: 2 bedrooms, 2 bath to 6 bedrooms, 7+ baths.

Size range: from 1,230 sq. ft. to 8,800 sq. ft. of living space

Average days on market: 146

The median price of these active listings is $1,225,000.

Sold Single-family homes January 1, 2008 – May 10, 2008

6 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Average days on market: 176

The median price of these active listings is $711,000.

Sunnyside, Skyland, Pineland, Tahoe Tavern areas

Active

39 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Price range: $325,000 to $1,055,000

Rooms: 1 bedroom, 1 bath to 7 bedrooms, 5+ baths.

Size range: 600 sq. ft. to 12,255 sq. ft. of living space

Average days on market: 165

The median price of these active listings is $839,000.

Sunnyside, Skyland, Pineland, Tahoe Tavern areas

9 Sold Single-family homes January 1, 2008 – May 10, 2008

Average days on market: 241

The median price of these active listings is $795,000.

Meeks Bay, Rubicon, Chamberland, McKinney Shores areas

Active

64 single-family homes currently available in the Tahoe Sierra Multiple Listing Service

Price range: $325,000 to $1,055,930

Rooms: studio, 1 bath to 4 bedrooms, 4.5 baths.

Size range: 240 sq. ft. to 2,374 sq. ft. of living space

Average days on market: 172

The median price of these active listings is $911,000.

Meeks Bay, Rubicon, Chamberland, McKinney Shores areas

11 Sold Single-family homes January 1, 2008 – May 10, 2008

Average days on market: 115

The median price of these active listings is $560,000.

LOCATION:

The key to any good real estate investment is location.

Close to San Francisco Bay Area and Sacramento (one of the fastest growing areas in California), Lake Tahoe makes an accessible choice for a vacation retreat, retirement home or investment property. Our proximity to the high tech industries of the Silicon Valley offer many vacation homeowners the opportunity to telecommute part time from their vacation homes. Easy drives from Sacramento and Reno make it a popular weekend spot.

RECREATION:

The Tahoe basin enjoys status as one of the finest year-round recreation areas in the world. Visitors come to experience the best in year-round outdoor activities including world-class skiing and boarding, snowmobiling, boating, golf, hiking and mountain biking. Some come to try their hand at gaming and tempt "lady luck" or to enjoy the nightlife.

LIFESTYLE:

Match your destination to your lifestyle. Changing priorities have made quality of life increasingly important. Buyers are increasingly looking for a place to escape on the weekends while looking for a solitude and relaxation?

SPECTACULAR SCENERY:

Lake Tahoe attracts millions of travelers a year because it offers the best of both winter and summer climates.

Visitors continue to be awestruck by the grandeur and beauty of one of the most spectacular mountain lakes in the world. Like travelers before them, present day vacationers flock to Lake Tahoe's shores, many vying to make a piece of this paradise their own. With awe-inspiring beauty and a multitude of selections for vacation homes and rentals, the South Lake Tahoe resort area is great for both vacation homes and investment opportunities. If you are looking for a vacation home in Tahoe you are not alone. Who wouldn't long to view sweeping mountain vistas from a mountain chalet sequestered among the Jeffrey pines?

Information Sources:

National Association of Realtors®, California Association of Realtors®, South Tahoe Association of Realtors®, Aspen Board of Realtors, Rocky Mountain Resort Alliance, Land Title Guarantee Company of Eagle County, Colorado.

(Information deemed accurate but not warranted)