Tahoe Keys Real Estate Review
January 14, 2009
2008 was a tough year for Tahoe Keys Real Estate. There were a total of 32 single family homes sold in the Tahoe Keys area compared with 37 sold in 2007. The slow down of the Tahoe Keys Real Estate market shows that no sectors of real estate were spared during these hard economic times.
The 2008 Tahoe Keys Real Estate Statistics are as follows
- 32 Single family home sales (Down 14% from 37 in 2007)
- Lowest priced sale $410,000 ($550,000 in 2007)
- Highest priced sale $2,150,000 ($3,750,000 in 2007)
- Average sales price $900,366 (Down 22% from $1,155,000 in 2007)
- Median sales price $847,500 (Down 12% from $960,000 in 2007)
- Total sales volume $28,811,720 (Down 33% from $42,735,000 in 2007
- Average days on market 196
To view a graph of the statistics click on the following link 2008 Tahoe Keys Statistics
Condos in the Tahoe Keys saw the same amount of units sold, 11 in 2007 and 11 2008, but the prices were much lower in 2008
- 11 condos sold in 2008 (11 sold in 2007)
- Lowest prices sale $239,000 ($355,000 in 2007)
- Highest priced sale $555,000 ($1,450,000 in 2007)
- Average sales price $422,541 (Down 33% from $628,955 in 2007)
- Median sales price $435,000 (Down 26% from $590,000 in 2007)
- Total sales volume $4,647,950 (Down 33% from $6,918,500 in 2007)
To view a graph of the statistics click on the following link Tahoe-Keys-Condo-Statistics.
The lower prices are great news for buyers and bad news for sellers. For more information on Tahoe Keys Real Estate, or houses on the South Lake Tahoe MLS, please call Brent or Jill Johnson today!
Tahoe Keys Real Estate in a Flood Zone?
January 14, 2009
The Federal Emergency Management Agency (FEMA) has made a recent change to flood maps causing some homes in the Tahoe Keys to now be considered in a flood area.
According to an article written in the Tahoe Daily Tribune written be Adam Jensen, Owners of Tahoe Keys Real Estate feel that the flood maps are very inaccurate. To view the entire article click here.
Most lenders require homeowners within a flood area to have flood insurance. When the FEMA flood maps were changed, some homeowners in the new flood area received letters from their lenders requiring flood insurance or a letter from a licensed surveyor saying that the property is not in the flood area.
Flood insurance can cost around $1,100 for a $100,000 premium. This could be a hardship for some homeowners in todays tough economy.
The new FEMA maps will be very important for Real Estate Agents and those looking to buy Real Estate in the Tahoe Keys. Purchasing a home in a flood zone will add additional insurance expenses and could be harder to sell in the future.
FEMA is currently reviewing the flood map changes due to complaints from homeowners. Click on the link view the FEMA website.
Click Here to View the Tahoe Keys FEMA Map
For questions about Tahoe Keys Real Estate or any home on the South Lake Tahoe MLS please call Brent or Jill Johnson today!
Custom Tahoe home near the Tahoe Keys!
January 1, 2009
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Central heat
This South Lake Tahoe real estate blog post was provided by Brent Johnson. If you would like more information regarding this house, other South Lake Tahoe homes for sale, or any other questions about real estate in South lake Tahoe, please contact Brent and Jill Johnson today!
Tahoe Keys Real Estate Year to Date Sold Statistics
November 29, 2008
| Residential | ||||||
| 2- Bedrooms | 3 Bedrooms | 4 Bedrooms | 5+ Bedrooms | All Bedrooms | ||
| Active | ||||||
| #Units | 0 | 0 | 0 | 0 | 0 | |
| Average List Price | $0 | $0 | $0 | $0 | $0 | |
| Average Market Time | 0 | 0 | 0 | 0 | 0 | |
| Average Square Feet | 0 | 0 | 0 | 0 | 0 | |
| All Off Market | ||||||
| #Units | 1 | 18 | 12 | 0 | 31 | |
| Pending | ||||||
| #Units | 0 | 0 | 0 | 0 | 0 | |
| Average List Price | $0 | $0 | $0 | $0 | $0 | |
| Average Market Time | 0 | 0 | 0 | 0 | 0 | |
| Average Square Feet | 0 | 0 | 0 | 0 | 0 | |
| Sold | ||||||
| #Units | 1 | 18 | 12 | 0 | 31 | |
| Dollar Value | $998,000 | $15,691,000 | $11,467,720 | $0 | $28,156,720 | |
| Average List Price | $1,088,000 | $925,275 | $1,047,492 | $0 | $977,834 | |
| Average Sold Price | $998,000 | $871,722 | $955,643 | $0 | $908,281 | |
| Average Market Time | 103 | 176 | 222 | 0 | 192 | |
| Average Square Feet | 2134 | 2145 | 2463 | 0 | 2268 | |
| % of List Price | 91.73 | 94.21 | 91.23 | 0.00 | 92.89 | |
| Not Pending or Sold | ||||||
| #Units | 0 | 0 | 0 | 0 | 0 | |
| Average List Price | $0 | $0 | $0 | $0 | $0 | |
| Average Square Feet | 0 | 0 | 0 | 0 | 0 | |
| Listings per Status | |
| Minimum, Average, Maximum | |
| Days On Market Analysis | |