Tahoe Keys Real Estate Statistics

After a slow start to 2009, Tahoe Keys real estate activity is now showing signs of new life. There are now 17 single family houses in the Tahoe Keys that are in escrow according the South Lake Tahoe MLS.  Out of the 17 houses that are in escrow, 10 are distress sales. The distress sales that are in escrow consist of 2 bank owned foreclosures and 8 short sales. The bank owned foreclosures that are in escrow are 1886 Genevieve Ct, a 4 bedroom, 2.5 bath, 2 car garage, 1946 square foot home listed for $599,000 and 1971 Aloha, a 4 bedroom, 2.5 bath, 2 car garage, 2524 square foot home listed for $798,000.

There have been 20 houses in the Tahoe Keys that have sold so far in 2009. Distress sales have accounted for 8 of the sold Tahoe Keys homes. There were 5 short sales and 3 bank owned foreclosures that have been reported as sold on the South Lake Tahoe mls.

Tahoe Keys Real Estate Statistics for the Sold 2009 Homes

• The average listing price for the sold Tahoe Keys homes was $992,692
• The average selling price for the sold Tahoe Keys homes was $926,258
• The median listing price for the sold Tahoe Keys homes was $759,900
• The median selling price for the sold Tahoe Keys homes was $705,000
• The average price per square foot for the sold Tahoe Keys homes was $323
• There have been 5 sold short sales in the Tahoe Keys
• There have been 3 sold foreclosures in the Tahoe Keys
• The average days on the market was 199
• The median days on the market was 164

 

 

The average sold price per square foot of $323 in the Tahoe Keys is down 17 % from 2008 when the average sold price per square foot was $388. The following statistics show how the average price per square foot for sold single family homes has come down in the Tahoe Keys.

• In 2005 there were 49 houses sold and the average price per square foot was $473
• In 2006 there were 35 houses sold and the average price per square foot was $475
• In 2007 there were 37 houses sold and the average price per square foot was $476
• In 2008 there were 32 houses sold and the average price per square foot was $388
• In 2009 there have been 20 houses sold in the Tahoe Keys and the average price per square foot has been $323

With 46 houses for sale in the Tahoe Keys on the South Lake Tahoe mls, there is still a great selection of homes to choose from. There are only 3 homes for sale that are being listed as short sales, and there are no available foreclosures for sale in the Tahoe Keys. If there are any new foreclosure listings in the Tahoe Keys, I will be sure to add them to my current list of foreclosure listings in South Lake Tahoe. For further information about Tahoe Keys real estate please contact Brent and Jill Johnson today!

Tahoe Keys Real Estate Update

The Tahoe Keys area is now more affordable than it has been in years. With the great selection of homes to choose from, now is a great time to purchase waterfront property in South Lake Tahoe. There are currently 70 houses for sale in the Tahoe Keys listed on the South Lake Tahoe mls. Of the 70 houses for sale in the Tahoe Keys, 13 are currently in escrow. Distress sales are accounting for a large percentage of the houses in the Keys that are in escrow. Nine of the current Keys escrows are short sales and one is a bank owned foreclosure.

There have been 17 houses in the Tahoe Keys that have sold so far this year. Distress sales accounted for  6 of the sold Keys homes, 3 were short sales and 3 were bank owned foreclosures.

Here are the statistics for the sold Tahoe Keys Homes Year to Date:

• The average list price of the sold Tahoe Keys homes was $975,719
• The average sales price of the Sold Tahoe Keys homes was $894,700
• The median selling price was $700,000
• The average price per square foot was $333
• There were 3 sold short sales in the Tahoe Keys
• There were 3 sold bank owned foreclosures in the Tahoe Keys
• The average days on the market was 188
• The median days on the market was 157

With six houses for sale in the Tahoe Keys under $700,000 with lake access, now is a great time to purchase waterfront property in South Lake Tahoe! For more information regarding Tahoe Keys properties, please call Brent and Jill Johnson at (530) 416-2625.

Lakefront and Luxury Estates Tour

Chase Internationals annual Lake Tahoe Lakefront and Luxury Estates Tour is coming up on Wednesday, June 24th. The Lakefront and Luxury Estates Tour is a great way to view some of the nicest homes for sale in Lake Tahoe. Thirty three lakefront and luxury homes will be held open on Wednesday, June 24th from 10 am to 5 pm. The homes on this tour are what luxury Lake Tahoe real estate is all about!

Lunch will be provided on the East Shore at 1444 Pittman Terrace and on the West Shore at Dette Mortgage Group.

Here is the list of Lakefront and Luxury homes that will be on the tour:

East Shore

1. 222 South Meadow $4,700,000. Timeless Tahoe architecture, lakeview home. 5,039 sq.ft.
2. 236 Powerhouse $3,950,000. Mountain-style, water views and furnishings included.
3. 1972 Pray Meadow $2,795,000. Spectacular Victorian with furnishings and golf membership.
4. 2035 Jefferson $4,895,000. Prime lakefront/ greenbelt 6 bedroom townhome.
5. 165 The Back Road $3,995,000. Rancher style charmer on 2-acres with beachfront cabana.
6. 1640 South Peak $4,995,000. One acre private mountain retreat  with panoramic views.
7. 1460 Pittman Terrace $4,680,000. Contemporary lakefront with indoor pool grotto and bouy.
8. 1456 Pittman Terrace $4,950,000. Lakefront on a double lot with breakwater and bouy.
9. 1444 Pittman Terrace $5,950,000. LUNCH* Lakefront with crib pier, boat house, bouy, and sandy beach.
10. 1264 Tamarack $3,495,000. Lakefront with sandy cove beach, and 3 car garage.
11. 1118 Hwy 50 $6,400,000. Lakefront estate with pier, breakwater, beach, and bouys.
12. 1098 Myron $4,995,000. Lakefront with 108 feet of sandy beach, shared pier and bouys.
13. 740 LinconHighway $4,950,000. New Lakefront with sandy beach. HOA pier and bouy field.
14. 478 Lakeview$2,490,000. Best priced Nevada lakefront with sun deck and two bouys.
15. 650 Tina Court $3,500,000. Private Estate on 1.7 acres with panoramic lake views.

South Shore

1.  319 Beach Drive $3,990,000. Lakefront cabin with sandy beach and dock. Approved plans.  
2. 3 Lighthouse Shores $3,200,000. Views of lake, meadow, and mountains. Triple lot, dock.
3. 24 Lighthouse Shores $5,950,000. Contemporary lakefront with sandy beach and boat dock.
4. 3031 Jameson Beach $2,300,000. Tahoe lakefront with shared pier, sandy beach and bouy.
5. 331 Fallen Leaf Lake Road $4,995,000. Fallen Leaf Lakefront estate on 1.55 acre with private pier.

West Shore

1. 8797 Rubicon Drive $5,500,000. 5-bedroom lakefront cabin, pier, bouy, and sandy beach.
2. 1970 West Lake Blvd. $19,500,000. 180 foot waterfront estate with pier, slip, bouys, and lift.
3. 850 W. Lake Blvd. $7,250,000. 2 furnished houses, shared pier, private slip, lift, and 2 bouys.
4. 664 Olympic Drive $5,750,000. 3-suite lakefront home, spacious deck, pier, lift, and bouy.
5. 1780 N. Lake Blvd. $9,995,000. 2007 lakefront, 7000 square foot+ guest house, 2 bouys.
6. 4160 Ferguson $4,500,000. Sunny house, fabulous pier, boathouse, 3 lifts, 2 bouys.
7. 4850 N. Lake Blvd. $8,950,000. LUNCH* 4-suite lakefront, pier, lift, boat garage, bouy. Furnished.
8. 5306 N. Lake Blvd. $5,500,000. Charming stone lakefront with guest house and 2 bouys.
9. 7762 N. Lake Blvd. $2,950,000. 6-bedroom lakefront with guest house, sandy beach, 2 bouys

North Shore

1. 290 NorthlakeCircle $10,750,000 287 foot lakefront estate on .93 acres, with bouy and shared pier.
2. 453 Lakeshore $5,850,000. 200 feet of lake frontage with contemporary home, guest house.
3. 455 Lakeshore $3,000,000. Lakefront townhome, single level, HOA pier, bouy and pool.
4. 525 Lakeshore $2,295,000. Townhome withHOA sandy beach, marina with floating docks.

The Lake Tahoe Lakefront and Luxury Estates Tour is an invitation only event, so call Brent Johnson at (530) 416-2625 to receive your invitation to the 15th annual tour. This tour is a great way to see the great lakefront houses for sale in Lake Tahoe.

Tahoe Keys Condos

Owning a condo in the Tahoe Keys area is one of the least expensive ways to own real estate on the water in South Lake Tahoe. Having a condo in the Tahoe Keys also allows you to use the Keys areas great amenities including the indoor and outdoor pools, tennis courts, basket ball courts, beach and harbor use, and the playground. Boat owners will love having a dock in the lagoon with easy access to Lake Tahoe’s crystal clear waters.

Condo prices in the Tahoe Keys are now more affordable than they have been in years. The median sales price is down 36% in 2009 from what it was in 2006. Currently the least expensive condo in the Tahoe Keys is only $239,000. 489 Tahoe Keys Blvd. is a one bedroom, one bathroom 754 square foot bank owned foreclosure.

So far this year there have only been two condos that have sold in the Tahoe Keys area. Both condos that sold were 3 bedroom, 2 bath units that had an average sales price per square foot of $301. 2071 Venice Drive #296 sold for $300,000 and 405 Ala Wai #182 sold for $485,000.

Currently there are three condos that are in escrow, 439 Ala Wai #941 with a list price of $399,000, 2081 Venice Drive #288 with a list price of $399,000, and 2031 Venice Drive #322 with a list price of $465,000.

There are 20 active condo listings in the Tahoe Keys on the South Lake Tahoe mls. The average list price per square foot is $450, the median list price is $517,000, and the median days on the market is 187. Like I had said before, the least expensive condo is a 1 bedroom with a list price of $239,000. The most expensive condo on the mls is 336 Ala Wai #255,  a 3 bedroom, 2.5 bath lakefront offered at $1,195,000. 

To show how Tahoe Keys condos have gone down in value since 2005, here are the statistics from the South Lake Tahoe mls:

2009 Tahoe Keys Condo Statistics

• Two units sold in 2009
• The median sales price was $392,500
• The average price per square foot was $301

2008 Tahoe Keys Condo Statistics

• 11 units sold in 2008
• The median sales price was $435,000
• The average price per square foot was $408

2007 Tahoe Keys Condo Statistics

• 11 units sold in 2007
• The median sales price was $590,000
• The average price per square foot was $477

2006 Tahoe Keys Condo Statistics

• 16 units sold in 2006
• The median sales price was $616,000
• The average price per square foot was $486

2005 Tahoe Keys Condo Statistics

• 16 units sold in 2005
• The median sales price was $559,500
• The average price per square foot was $450

If you are looking for an affordable way to own South Lake Tahoe real estate on the water, now may be the best time to purchase a condo in the Tahoe Keys. For more information regarding condos for sale in the Tahoe Keys and Tahoe Keys real estate, please call Brent and Jill Johnson today!

Vacant Lots in South Lake Tahoe

The South Lake Tahoe real estate market has been much better than the weather! There are now has 95 single family homes in escrow. There have not been that many homes in escrow since the peak of the market in July of 2005!

Vacant lots in South Lake Tahoe are also starting to sell. There are now 5 lots that are in escrow. Although that may not seem like a lot of escrows, there are more lots now in escrow than there has been in the last year!

Here is a list of the lots in South Lake Tahoe that are currently in escrow:

1. 881 Julie Lane- 6600 square foot lot in the Gardner Mountain area. The asking price was $67,500. This lot was only on the for a few days, and had multiple offers!
2. 782 Lookout Point- 10,890 square foot lot with allocation in the Angora burn area of North Upper Truckee. The asking price of this lot was $189,000. This lot was on the market for 417 days.
3. 1988 Venice Drive- 7000 square foot lot in the Tahoe Keys with plans, permits, and allocation. This is one of the few remaining lots in the Tahoe Keys area. The asking price was $204,000. This lot was on the market for 401 days.
4. 1992 Venice Drive- 8100 square foot lot in the Tahoe Keys. The asking price was $214,000 and included plans, permits, and allocation.  This lot was also on the market for 401 days.
5. 922 Cone Road- 10,858 square foot lot in the Angora fire area of North Upper Truckee. This lot is being sold as a short sale and the asking price was $110,000. This lot has been on the market for 264 days.

There have been only 7 lots that have been sold on the South Lake Tahoe mls so far this year. There were three lots that sold in the month of May, which was the most closings out of any month so far this year.  The average sales price of the lots sold this year was $128,367 and the median sales price was $90,000.

Here is a list of the lots in South Lake Tahoe that have sold so far this year.

1. 963 San Jose- Vacant 5,000 square foot lot. Sales price $70,000
2. 860 Nahane- Vacant 6,000 square foot lot. Sales price $60,000
3. 3708 Verdon- Vacant 11,892 square foot lot. Sales price $90,000
4. 1313 Knoll- Vacant 14,000 square foot lot with allocation. Sales price $400,000
5. 1069 San Diego- Vacant 10,300 square foot lot. Sales price $69,000
6. 1545 Arapahoe- Vacant 35,719 square foot lot. Sales price $109,500
7. 764 Elk Point- Vacant 11,761 square foot lot with allocation. Sales price $100,000

With the median sales price of lots in South Lake Tahoe now under $100,000, they are finally starting to sell again. Although permit costs are still the same, building costs, labor, and materials are down. There are a lot of quality contractors looking for work. Now may be one of best times to buy a lot and build your dream house in Lake Tahoe!

Make sure to keep up on the local South Lake Tahoe real estate market conditions by reading my South Lake Tahoe real estate blog!

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