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 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!