Tahoe Keys Real Estate Statistics for 2011

The real estate market in the Tahoe Keys was quite active in 2011, but home values continued to slip throughout the year. According to the South Lake Tahoe MLS , the Tahoe Keys area had a 12.4% decrease in the median sales price in 2011 compared with 2010. The median sales price for single family homes (excluding town houses) was $591,500 in 2011, down from $675,500 in 2010. The Tahoe Keys area  held values better than the South Shore as a whole.  The South shore had a 16 % decrease in the median sales price in 2011. The median sales price in the Tahoe Keys area is now almost half of what it was in 2005. In 2005 the median sales price of the single family homes that were sold in the Tahoe Keys was $1,145,000!

Tahoe Keys Real Estate Statistics

• There were 47 single family homes in the Tahoe Keys that were sold in 2011, down from 54 sales in 2010 and down from 52 sales in 2005.
• The median sales price was $591,500, down from $675,500 in 2010 and down from $1,145,000 in 2005.
• The average sales price in the Tahoe Keys was $$782,483, down from $837,769 in 2010 and down from $1,218,981 in 2005.
• The average price per square foot was $299, down from $333 in 2010 and down from $484 in 2005.
• The average days on the market was 225, up from 196 in 2010 and up from 91 in 2005.

Out of the 47 houses in the Tahoe Keys that were sold, 17 were distress sales. Foreclosures accounted for 9 of the distress sales and short sales accounted for the other 8 sales.

Foreclosures in the Tahoe Keys

• The average sales price for the sold bank owned properties in the Tahoe Keys was $620,978.
• The median sales price for the foreclosures was $599,900.
• The average days on the market was 171 and the median days on the market was 108.
• The average price per square foot was $248.

Short Sales in the Tahoe Keys

• The average price of the sold short sales in the Tahoe Keys was $643,688.
• The median sales price of the short sales was $491,750.
• The average days on the market was 381 and the median days on the market was 362.
• The average price per square foot was $288.

Now that the median sales price in the Tahoe Keys area is almost half of what it was in 2005, this is a great opportunity to purchase a water front property in South Lake Tahoe. Make sure that you are signed up for New Listing Notifications on my website www.JohnsonsTahoeRealEstate so that you are automaticaly notified when there are new listings and price reductions in the Tahoe Keys. Although prices are down in the Tahoe Keys, there is a lot of activity  For more information regarding the Tahoe Keys Real Estate market, please give me a call!

Tahoe Keys Real Estate Statistics

There are currently only 30 available houses for sale in the Tahoe Keys that are listed on the South Lake Tahoe MLS. There are 41 total listings, 11 of the listings are in escrow and 30 are available. There are only 3 bank owned foreclosures in the Tahoe Keys that are on the market and one of them is in escrow. There are 8 short sales in the Tahoe Keys and 6 of the short sales are in escrow.

So far this year there have been 40 single family houses that have sold in the Tahoe Keys according to the South Lake Tahoe MLS. The average selling price of the Tahoe Keys homes was $764,968 and the median sales price has been $564,250. The average price per square foot of the sold Keys homes has been $290. The average days on the market for the Tahoe Keys has been 222 days.

Distress sales have accounted for 14 of the Tahoe Keys sales. There have been 8 short sales in the Tahoe Keys and 6 bank owned foreclosures that have sold this year. The average sales price of the foreclosures has been $642,975 and the median sales price has been $639,950. The average sales price of the short sales has been $698,083 and the median sales price has been $564,250. The average price per square foot has been $291 for the short sales and $241 for the bank owned foreclosures.

There are currently only 9 condos in the Tahoe Keys that are available on the South Lake Tahoe MLS. There are 13 Tahoe Keys Condo listings and 4 of them are currently in escrow. One of the condos that is available is a bank owned foreclosure and 2 of the listings that are in escrow are short sales.

There have been 19 Tahoe Keys Condos that have sold so far this year. The average sales price of the condos has been $317,220 and the median sales price has been $310,000. The average price per square foot for the sold Keys Condos has been $240.  The average days on the market for the Keys condos that have sold so far this year has been 123 days. Out of the 19 Tahoe Keys Condo sales, only 4 were distress sales. There were 2 bank owned foreclosures that were sold and 2 short sales that were sold.

Tahoe Keys Real Estate

Weather you are a water lover, boater, or just like great views, you can not beat the Tahoe Keys area for real estate in South Lake Tahoe. The lake is just about full and the water channels in the Tahoe Keys look great! I was just out in the Keys looking at homes and the setting is amazing. There were boats and jet skies cruising out to the lake, gardeners working on the nicely landscaped yards, and kids fishing off of the docks!

Home prices in the Tahoe Keys are now more affordable than ever. There are waterfront homes in the Tahoe Keys with boat docks and lake access now priced under $500,000 and condos that are priced under $300,000! There are currently 49 single family homes and 18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 49 Tahoe Keys homes on the market, 42 are active and 7 are in escrow.

Here are the current statistics for the Tahoe Keys homes that are currently listed:

• There are 49 Tahoe Keys listings, 42 are active and 7 are in escrow.
• There are two bank owned foreclosures in the Tahoe Keys. Both of the foreclosures are on Beach Drive, one is in escrow and one is still active.
• There are 5 short sales listed in the Tahoe Keys. 3 of the short sales are active and 2 are in escrow.
• The average listing price of the Tahoe Keys homes for sale is $1,126,054.
• The median listing price of the Tahoe Keys homes for sale is $699,000.
• The average listing price per square foot is $393.

According to the South Lake Tahoe MLS, so far year to date as of 7/20 there have been 24 homes in the Tahoe Keys that have been sold. During the same period last year (1/1/10 to 7/20/10) there were 25 homes in the Tahoe Keys that were sold. Below are the comparative statistics for the homes sold  year to date:

• There were 24 Tahoe Keys homes sold from January 1st to July 20th 2011, During this same period in 2010 there were 25 homes sold.
• The average sales price was $745,700 in 2011 year to date,  and the 2010 average sales price was $865,240 for the same date range.
• The  median sales price was $595,700 in 2011 year to date, and the 2010 median sales price was $715,000 for the same date range.
• The average price per square foot was $296 in 2011 year to date, and the 2010 average price per square foot was $349  for the same date range.

There are currently18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 18 condos that are on the market, 15 are active and 3 are in escrow. There are 3 short sale listings and one bank owned foreclosure listing.

So far this year there have been 12 condos in the Tahoe Keys that have been sold. One of the condos that was sold was a bank owned foreclosure and one was a short sale. Last year during the same period there were only 8 Tahoe Keys condos that were sold, and one of those sales was a foreclosure.

Here are the Tahoe Keys condo statistics for 1/1 to 7/20 for 2011 vs. 2010:

• There were 13 Tahoe Keys condos sold in 2011 and 8 condos sold in 2010.
• The average sales price was $334,192 so far this year, and it was $374,625 in 2010.
• The median sales price was $329,750 so far this year, and it was $315,000 in 2010.
• The average price per square foot was $239 so far this year, and it was $329 in 2010.

For more information regarding the Tahoe Keys Real Estate market or to set up an appointment to see some Tahoe Keys Properties, please contact Brent Johnson at (530) 416-2625.

Tahoe Keys Waterfront Just Reduced!

2213 Texas Ave.

Just Reduced!!!

Ofered at $439,000

South Lake Tahoe Real Estate agents Brent and Jill Johnson have just listed one of the least expensive waterfront properties in South Lake Tahoe! This waterfront home is located in the Tahoe Keys and has expansive waterfront views and amazing sunsets! You will be impressed with this recently remodeled Tahoe Keys home that overlooks Lake Tallac. The 2007 remodel included new kitchen with hickory cabinets, quartz slab counter tops, stainless steel appliances, and distressed hickory hardwood flooring. The windows have been replaced with new double pane vinyl frame windows and the roof was replaced about 7 years ago. The second level of this upstairs living house is wheel chair accessible by a ramp that connects to the upper back deck.

click on this link to see the virtual tour of this remodeled house for sale in the Tahoe Keys!

• 3 bedrooms, 2 bath, 2 car garage
• 1440 square feet
• 6753 square foot lot
• recently remodeled including new front siding and a new roof!
• Great Tahoe Keys HOA amenities including indoor and outdoor pools, spa, beach, pier, boat launch, marina, park, tennis, basketball, volleyball, and security

For more information about this great house in the Tahoe Keys area please give South Lake Tahoe real estate agent Brent Johnson a call today!

March South Lake Tahoe Real Estate Review

Single family home sales in South Lake Tahoe jumped from 23 sales in February to 40 home sales in March. Distress sales accounted for 23 of the 40 homes sold. There were 16 bank owned foreclosures and 7 short sales that closed escrow in March. The total inventory of homes on the South Lake Tahoe MLS remained stable with 412 single family listings. 302 of the listings are active and 110 are active pending. At the end of February there were 401 listings and 103 were in escrow. In the current inventory there are 110 short sale listings and 42 bank owned foreclosures. 87 of 110 short sales are in escrow and 21 of the 42 foreclosures are in escrow.

South Lake Tahoe MLS Statistics for March

• 40 Single family homes in South Lake Tahoe sold in March, up from 23 in February 2010, and up from 28 in March 2010.
• The average sales price for the homes in South Lake Tahoe that sold was $404,053, down from $405,461 in February, and down from $445,679 in March 2009.
• The median sales price of the homes sold was $350,500, up from $312,500 in February, and down from $366,250 in March 2009.
• The average sales price per square foot was $221, up from $213 in February, and down from $222 in March 2009
• The average days on the market was 141, down from 176 in February.
• The median days on the market was 111, down from 119 in February.
• There were 16 bank owned foreclosures in South Lake Tahoe that sold, up from 11 in February, and up from 9 in March 2009.
• There were 7 short sales that closed escrow, up from 4 in February, and up from 4 in March 2009.

Distress sales accounted for 58% of the single family houses sold in March. This is down from 65% in February. In March 2009 the percentage of distress sales was 46%.

The foreclosures in South Lake Tahoe that sold in March sold for a very low price per square foot of $190. This is much lower than the non-distress sale price per square foot which was $249. The median days on the market for the foreclosures was 88.

Although home prices in South Lake Tahoe have not started to increase, buyer activity has. Home buyers are finding great prices on homes throughout South Lake Tahoe. For more information regarding South Lake Tahoe real estate please call Brent Johnson today!

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