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Tahoe Keys Real Estate

With summer just around the corner, I figured that it would be a great time to provide an update on the Tahoe Keys Real Estate market. This is the time of year when the activity in the Tahoe Keys begins to heat up.

There are currently 21 single family homes for sale in the Tahoe Keys ranging from a small 2 bedroom home for $399,900 (not backing to water) to a 7,339 square foot lakefront property offered at $4,700,000. Only 15 of the current Tahoe Keys listings back to the water and have lake access. The remaining 6 listings either back to Lake Tallac or do not back to any kind of water. Hopefully as summer goes on, more listings will come up in the Tahoe Keys.

The HOA fees for single family homes in the Tahoe Keys runs about $164 per month. Tahoe Keys HOA amenities include tennis courts, indoor/outdoor pools, spa, beach use, pier, basket ball, volley ball, security, water way maintenance, common area maintenance, and boat launch. I also included the domestic water in the HOA fee but not sewer.

There are currently 15 Townhouses for sale in the Tahoe Keys ranging from a 507 square foot studio for $149,000, to a remodeled lakefront unit offered at $1,500,000. Townhouses in the Tahoe Keys remain as the most affordable waterfront properties in the South Lake Tahoe area.  Keep in mind that the HOA fees for the Townhouses run on average between $500 and $600 a month. This fee includes all of the Keys amenities along with exterior maintenance, exterior insurance, snow removal, and roof repairs.

So far this year there have been 15 homes sold in the Tahoe Keys that were listed on the South Lake Tahoe MLS. The average sales price has been $1,073,267 and the median sales price has been $727,500. Over the last 12 months the median sales price was $730,000, up from $633,000 from the previous 12 month period. This is almost a $100,000 increase in just 12 months (15.3% increase). The average price per square foot of the homes that have sold has been $377, up from $321 in 2013.

Although the median price of the homes sold in the Tahoe Keys was up, the number of total sales was down. There have been 51 homes sold in the Tahoe Keys in the last 12 months, down from 81 Keys sales in the previous 12 month period.

There have been 7 townhouses in the Tahoe Keys that have sold so far in 2014. The average sales price of the townhouse sales has been $392,143 and the median sales price has been $355,000. The average price per square foot has been $283 which is up from $279 in 2013.

For more information about real estate in the Tahoe Keys area please call Brent Johnson at (530) 416-2625 today!

 

 

 

 

Tahoe Keys Real Estate

The Tahoe Keys Real Estate market has always seemed to very active during the summer months so I though that I would post the latest statistics in preparation for another busy summer. The inventory of houses for sale in the Tahoe Keys continues to remain low, similar to the rest of the areas in South Lake Tahoe.  There are currently only 33 single family homes listed on the South Tahoe MLS. Out of the 33 listings 24 are active and 9 are active pending. With only 24 active listings out of the 1250 homes in the Tahoe Keys there is not a lot to choose from.

The biggest change in the inventory of homes for sale in the Keys is the lack of lower priced properties. The least expensive home currently for sale in the Keys on the water with lake access is$779,000. This is a huge change when just 12 months ago there were about a dozen homes on the water priced under $700,000.

There are a few distress sales currently listed in the Tahoe Keys. There are two short sales that are currently in escrow and one foreclosure listing that is not on the water but is still available. There is also a foreclosure listing that was not listed on the South Lake Tahoe mls on Lucerne that was listed on the Metrolist mls and had multiple offers within a couple of days of being listed.

So far this year there have been 35 houses in the Tahoe Keys that were sold on the South Lake Tahoe MLS. Out of the homes that were sold 27 were on the water with lake access and 8 of the homes did not have lake access.

Tahoe Keys Real Estate Statistics

  • There have been 35 single family homes sold in the Tahoe Keys so far in 2013
  • The average sales price has been $730,029
  • The median sales price has been $634,500
  • The average price per square foot was been $313
  • The median days on the market has been 126 and the average days on the market has been 164
  • There has been one foreclosure  and one short sale that has closed escrow so far this year

For more information about Real Estate in the Tahoe Keys please contact Brent Johnson at (530) 416-2625 today!

 

Tahoe Keys Real Estate Statistics

The Tahoe Keys Real Estate market appears to have began its recovery after 5 long years of declining prices. In 2012 the Tahoe Keys area saw an increase in median and average sale prices, units sold, and total dollar volume sold for single family homes. Not only was volume and units sold up from 2011, both  were up from when the market was at its peak in 2006-2007.

In 2012 there were 62 single family homes in the Tahoe Keys  that were reported as sold on the South Lake Tahoe MLS. In 2011 there were 47 single family sales and in 2006 there were only 35 reported sales. The total dollar volume for the sales in 2012 was $51,109,800, well above 2011 in which the sales volume was $36,776,700 and the 2006 volume of $35,327,338.

The sales prices in the Tahoe Keys were up modestly in 2012. The median sales price for the sold single family homes in the Tahoe Keys was $614,500 which was up 4% from 2011 when the median sales price was $591,500. The average sales price was up 5% in 2012 from $782,483 to $824,352.  The average price per square foot went from $299 in 2011 to $319 in 2012.

Distress sales in the Tahoe Keys were few and far beteween in 2012. There were only 4 foreclosures that were sold and 7 short sales that were sold on the South Lake Tahoe MLS which represented only 18% of the sales last year. In 2011 distress sales accounted for 36% of the homes in the Tahoe Keys that were sold (9 foreclosures and 8 short sales).

Tahoe Keys Real Estate Statistics for 2012

  • There were 62 single family homes in the Tahoe Keys that were sold, up from 47 in 2011 and up from 35 in 2006.
  • The median sales price was $614,500, up from $591,500 in 2011 and down from $1,000,000 in 2006.
  • The average sales price was $824,352, up from $782,483 in 2011 and down from $1,009,354 in 2006.
  • The average price per square foot was $319, up from $299 in 2011 and down from $475 in 2006.
  • The median days on the market was 95, down from 165 in 2011 and down from 118 in 2006.

Now that the Tahoe Keys Real Estate market is on the upswing, the biggest hurdle that buyers now face is the lack of inventory. There are currently only 25 single family homes for sale in the Tahoe Keys area that are now active. Out of the 25 active listings only 21`of them are on the water with lake access. Of the active listings in the Tahoe Keys with lake access there are only 11 under $1,000,000.

There are currently 11 single family homes in the Tahoe Keys that are in escrow which represents over 30% of the current inventory. Included in the 11 properties under contract are the only current short sale and foreclosure listings in the Tahoe Keys.

The Tahoe Keys real estate market is usually quiet during the winter time and then gets active in the spring and summer months. This winter has been an exception to that trend and has been quite active. If the demand for properties rises this spring as it usually does and the inventory does not increase, we will most likely see prices jump yet again.

If you have been on the fence about purchasing a property in the Tahoe Keys, now is the time to buy. Take advantage of the low prices and the historical low interest rates before you miss the boat!

 

Tahoe Keys Real Estate

After biking through the Tahoe Keys over the 4th of July weekend I have decided to post some recent Tahoe Keys real estate statistics. My family and I were riding our beach cruisers down Venice Street on the 4th and noticed that there were lots of people enjoying the Tahoe Keys lifestyle. There were kids out fishing and swimming off of the docks, there were boats motoring in and out of the channels, and families enjoying the one of a kind waterfront setting. What a great sight this was to see!

Home prices in the Tahoe Keys have become more affordable than ever, but the inventory levels are very low. Good deals in the Tahoe Keys do not last very long and you must act quickly to score a good deal. In the first half of 2012 there were 19 Tahoe Keys homes that closed escrow on the South Tahoe MLS. The median sales price was 42% less than what it was in the first half of 2006. The price per square foot was also 33% less during the same period.

Tahoe Keys Real Estate Statistics 1/1/12 to 6/30/12

  • There were 19 Tahoe Keys Homes sold in the first half of 2012, down from 22 in 2011, and up from only 14 in 2006.The medain sales price was $590,000, down from $602,45o in 2011, and down from $1,010,000 in 2006.
  • The average sales price of $867,789, up from $771,514, and down from $1,008,742 in 2006. (there was a $3,250,000 lakefront that sold in 2012 which drove up the average sales price.)
  • The average price per square foot was $311, up from $299 in 2011, and down from $464 in 2006
  • The average days on the market was 230, down from 283 in 2011, and up from 142 in 2006.
  • There were 4 short sales and 4 foreclosures in the Tahoe Keys sold in the first half of 2012.

Currently there are 49 total single family homes for sale in the Tahoe Keys. Out of the 49 listings, 14 are in escrow and only 35 are still active. There are only 4 short sale listings in the Tahoe Keys and 3 of them are in escrow and one is active.

The active inventory of homes for sale in the Tahoe Keys accounts for only 2.9% of the total number of properties in the Tahoe Keys. There are 1530 properties in the Tahoe Keys including Townhouses and there are 44 active properties for sale. There are around 875 waterfront homes with Lake Tahoe access. There are only 25 active lake access homes for sale which accounts for 2.8% of those properties. There are 290 off -water or landlocked homes and there are 8 of them for sale which is only 2.7%. There are 30 lakefront homes in the Tahoe Keys and 2 of them are for sale (6.7%). There are 335 Townhouses in the Tahoe Keys and there are 9 for sale (2.7%).

If you are interested in waterfront living in South Lake Tahoe at an affordable price then you must look into the Tahoe Keys. Having your boat tied up in your backyard and ready to go at anytime is an amazing feature. When you add all of the other Tahoe Keys amenities like the indoor and outdoor pools, tennis courts, security, and much more, the Tahoe Keys area is hard to beat!

Tahoe Keys Real Estate

Tahoe Keys real estate  is the South Shores premier area for buyers looking for waterfront property. The Tahoe Keys is a 740 acre private marina community located on 11 miles of inland waterways that lead to the emerald waters of Lake Tahoe.  There are about 1250 homes and 350 condominiums located within the Tahoe Keys area. Most of the properties in the Tahoe Keys are waterfront properties that have private boat docks and easy access to boating on Lake Tahoe.

The Tahoe Keys offers some of the best mountain, meadow, and water views in Lake Tahoe. The utilities are underground and there is a building height code that keeps the views breathtaking and unobstructed.

 Homeowners in the Tahoe Keys have access to private amenities including tennis courts, an indoor and outdoor pool, spa, park, private beach, marina, and launch ramp The Tahoe Keys HOA also provides security, waterway maintenance, and has its own water company.  The Tahoe Keys Property Owners Association is the Tahoe Keys HOA.  HOA fees are $1919 annually for houses and from $1000 to $1400quarterly for condos depending on their location with-in the Tahoe Keys.

Single family home property values generally range from the $500,000′s to $3,ooo,ooo, but there have been a few foreclosures in the Tahoe Keys that have sold for under $400,000, and some luxury lakefront homes that have sold well over that range. Tahoe Keys condos range from $250,000 for a one bedroom, to over $1,000,000+ for a lakefront.

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tahoe keys real estate

Tahoe Keys Real Estate Review for 2009

Real Estate in the Tahoe Keys was not immune to the decline in property values in 2009. The median sales price of single family homes dropped 17% from $847,500 in 2008 to $700,000 in 2009. One of the leading causes of the decline in the median sales price of the single family homes was the presence of bank owned foreclosures and short sales. There were 5 foreclosures and 7 short sales it the Tahoe Keys that closed escrow in 2009. Short sales and foreclosures accounted for 12 out of 32  (38%) of the sold single family homes in the Tahoe Keys. The number of homes sold in the Tahoe Keys was the same as in 2008, 32.

484 Carson Ct.
484 Carson Ct.

 

The decline in the sales prices was a great opportunity for home buyers looking for deals in the Tahoe Keys. 484 Carson Ct. is a great example. 484 Carson Ct. was a bank owned foreclosure in the Tahoe Keys that was listed for $792,900. This was a 3 bedroom, 3 bath, 2 car garage, 2136 square foot home built in 1993. This home had multiple offers and sold above asking price at $826,000. This is still an incredible price when you look at what the home last sold for, $1,345,000 on 8/19/05!

2009 Tahoe Keys Real Estate Statistics

  • 32 single family homes in the Tahoe Keys sold in 2009
  • 5 foreclosures in the Tahoe Keys sold in 2009
  • 7 short sales in the Tahoe Keys sold in 2009
  • The median sales price was $700,000
  • The average sales price was $920,192
  • The average price per square Foot was $336
  • The median days on the market was 157

The foreclosures in the Tahoe Keys sold for less money and less time on the market than the non-foreclosure properties. The bank owned foreclosures in the Tahoe Keys had an average sales price of $652,270, a median days on the market of 45, and an average price per square foot of $284. Keep in mind that most of the foreclosures in the Tahoe Keys that sold last year needed at least some minor repairs.

2008 Tahoe Keys Real Estate Statistics

  • 32 single family homes in the Tahoe Keys sold in 2008
  • The median sales price was $847,500
  • The average sales price was $900,366
  • The average price per square Foot was $388
  • The median days on the market was 115

2007 Tahoe Keys Real Estate Statistics

  • 37 single family homes in the Tahoe Keys sold in 2007
  • The median sales price was $960,000
  • The average sales price was $1,155,000
  • The average price per square Foot was $476
  • The median days on the market was 160

2006 Tahoe Keys Real Estate Statistics

  • 35 single family homes in the Tahoe Keys sold in 2006
  • The median sales price was $1,000,000
  • The average sales price was $1,009,352
  • The average price per square Foot was $455
  • The median days on the market was 118

2005 Tahoe Keys Real Estate Statistics

  • 49 single family homes in the Tahoe Keys sold in 2005
  • The median sales price was $1,130,000
  • The average sales price was $1,166,367
  • The average price per square Foot was $473
  • The median days on the market was 80

The median sales price of the Tahoe Keys Condos was down only 14% from 2008, but the number of condos sold was down significantly.There were only 6 Tahoe Keys condos sold in 2009, down from 11 in 2008. The sales volume was down from $4,647,950 in 2008 to $2,118,408 in 2009. Only one of the Tahoe Keys condos sold in 2009 was a bank owned foreclosure.

Tahoe Keys Condo Statistics for 2009

  • There were 6 condos in the Tahoe Keys that were sold
  • The median sales price was $373,750
  • The average sales price was $353,068
  • The median days on the market was 156
  • The average price per square foot was $279

Tahoe Keys Condo Statistics for 2008

  • There were 11 condos in the Tahoe Keys that were sold
  • The median sales price was $435,000
  • The average sales price was $422,541
  • The median days on the market was 97
  • The average price per square foot was $408

Tahoe Keys Condo Statistics for 2007

  • There were 11 condos in the Tahoe Keys that were sold
  • The median sales price was $590,000
  • The average sales price was $628,900
  • The median days on the market was 113
  • The average price per square foot was $477

Tahoe Keys Condo Statistics for 2006

  • There were 16 condos in the Tahoe Keys that were sold
  • The median sales price was $616,000
  • The average sales price was $652,148
  • The median days on the market was 100
  • The average price per square foot was $486

Tahoe Keys Condo Statistics for 2005

  • There were 16 condos in the Tahoe Keys that were sold
  • The median sales price was $559,500
  • The average sales price was $551,156
  • The median days on the market was 71
  • The average price per square foot was $450

For more information about Tahoe Keys Real Estate please contact Caifornia and Nevada South Lake Tahoe Real Estate agent Brent Johnson today!