Heavenly | South Lake Tahoe Real Estate Neighborhoods

Heavenly Valley, by all accounts, is the most sought after neighborhood for second home buyers and vacation renters.  It’s proximity to Lake Tahoe beaches, aquatic recreation, the world-class Heavenly Mountain ski resort, and casinos provide visitors with a sense of relief knowing that very little time will be spent in cars once they arrive at their doorstep.  When looking at an aerial map, the Heavenly Valley neighborhood is found close to the California and Nevada borders near the area called Stateline.

Although it is typical for Lake Tahoe neighborhoods to present a variety of homes, nowhere is that diversity more pronounced than in the Heavenly Valley neighborhood.  This neighborhood is made up of approximately 500 homes ranging from some of South Lake Tahoe’s most magnificent lake view homes, small historical cabins, condos, townhouses, timeshares and contemporary “mountain lodge” style homes.  The average home for the area has four bedrooms, two and a half baths and 1,700 square feet of living space.  Starting at Pioneer Trail and traversing up the side of the mountain, many of these homes are blessed with surrounding pine trees, adjacent US Forest and State Conservancy land, small creeks and mountain views.  If one is seeking a vacation rental investment, check with local property management companies and they will agree that the Heavenly Valley neighborhood is one of the best bets for netting the highest annual income.  Just mention the neighborhood benefits and a hot tub and the bookings will start to add up.

Although just hanging on one’s deck while listening to the birds and breeze may be all that is on one’s calendar once arriving in Heavenly Valley, nearby “fun” opportunities are waiting.  Aside from the Heavenly Mountain Ski Resort, one can head down to the lake shore to utilize the Ski Run Marina, the shops at Heavenly Village, dining, the El Dorado Beach Recreation Area/boat ramp and the casino corridor.  If you are looking for more, don’t forget the endless miles of forested trails ideal for hiking, biking and cross-country skiing.  The list doesn’t stop here.  Within a few short miles is Reagan Beach offering beach volleyball, picnics and fireworks in the summer along with cross-country skiing in the winter.  Golfers will recognize the pristine setting of the nearby Edgewood Golf Course and it will be a matter of time before they find themselves scheduling a t time.  All at once it becomes crystal clear – it is truly Heavenly.

As of August 21, the 2010 sales within the Heavenly Valley neighborhood are:

Address                    Sold Price    % of List         SF       $/SF    Bed/Ba/Ga    DOM  Yr Blt

4063 Saddle          $  470,000         85.6          1358    $346        3/2/0         492       1970

3775 Overlook           350,000        93.0          1620       216        3/3/C         405       1964

4135 Saddle                925,000         93.0         1874       494        2/2/0         308       1965

3320 Pioneer              250,000       102.1         1288      194         3/2/2         216       1965

1321 Wildwood      1,060,000         94.2         3432      309         4/3/2         206       1970

1199 Timber                325,000         93.1         1684       193         2/2/0        174        1980

3800 Needle Peak     432,000        93.9          1789      241         3/2/2         136        1998

3730 Regina               525,000      100.0         3150      167         5/5/2         123        1981

3705 Regina                467,500        85.2         1991       235        3/2/2         104        1981    *

3685 David                  500,000      100.2        2188      229        3/3/2           55         2000

1395 Timber Lake      235,000        99.7         1221       192         3/2/0           81        1966    *

1369 Knoll                   457,000        95.4         2468       185        3/3/2           23        1992    *

3606 Needle Peak        454,300     100.0       1831       248        4/2.5/1        63        1955

3691 David                     334,900     100.0       1264       265        3/1.75/1       27       1961    *

Condos

1439 Ski Run              $ 245,000        91.1       1067       230        2/1.5/0        1113      1976

1510 Wildwood             280,000       82.6       1120       250        2/1.5/0        498      1973

1439 Ski Run                  218,000        91.2     1060        206        2/1.5/0        444       1976

1439 Ski Run                  248,000        95.4     1067        232        2/1.75/        141       1976     *

3861 Saddle                    275,000        85.9       935        294        3/2/0           245       1973     *

1200 Wildwood             135,000        90.1       936        144         2/1.5/0        161       1972     *

1439 Ski Run                   200,000      98.0     1067        187        2/1.75/0       64       1976     *

* Bank-Owned or Short Sale

As compared to the same time period in 2009 (Jan. 1 – Aug. 21)  the median home price and number of sales are up.  The dollar per square foot is down.

Single Family/Condos      # of Units Sold        Median Home Price           Average $/SF     Median Days on Market

2010                                                      14/7             $455,650/$245,000            $251/$220           129/245

2009                                                       8/2             $430,000/$220,000            $219/$246           127/316

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