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.

 

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!

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.

Tahoe Keys Real Estate Review for 2009 Year to Date

Tahoe Keys home buyers are currently finding the best selection of homes for sale that there has been in years. There are now 55 houses for sale in the Tahoe Keys area that are available on the South Lake Tahoe mls. The least expensive home in on the water the Tahoe Keys is 2214 Venice ( backs the sailing lagoon), a 3 bedroom, 2 bathroom, 2 car garage 1422 square foot home for $495,000. For those looking for luxury, 24 Lighthouse Shores, a 6,500 square foot lakefront home is still available for $5,950,000.

Buyer activity in the Tahoe Keys has also been increasing, there are now currently 13 houses in the Tahoe Keys that are in escrow. Out of the 13 houses in escrow, 8  are short sales and none are bank owned foreclosures. 

Statistics for the houses in the Tahoe Keys that are in escrow 

• There are currently 13 homes in the Tahoe Keys that are in escrow
• The average listing price is $947,269
• The median listing price is $725,000
• Tha average price per square foot is $364
• The average days on the market is 309
• the average square footage is 2,438

So far this year there have been 8 Tahoe Keys homes that have sold on the South Lake Tahoe mls. Two of the sold homes were short sales and one was a bank owned foreclosure. When I ran the statistics for the sold Tahoe Keys homes, I did not include 2224 Inverness. 2224 Inverness was a short sale that was a 3,000 square foot shell, and was skewing the statistics. This home was completely gutted on the inside, and sold for only $300,000.

Statistics for the houses in the Tahoe Keys that have sold in 2009

• 8 sold houses in the Tahoe Keys
• 2 short sales and 1 bank owned foreclosure
• The average sales price was $798,286
• The median sales price was $705,000
• The average days on the market was 211
• The average square footage was 2,519

As I was driving my boat through the Tahoe Keys during the 4th of July weekend, it was great to see how many people were vacationing in the Keys. I would guess that there was not one vacant vacation rental in the Tahoe Keys area during that weekend. The Tahoe Keys is a very special area in South Lake Tahoe, and is one of the best places in the world to own a home! There is a large selection of homes available in the Tahoe Keys, and prices at their lowest levels in years. In may now be the best time ever to find your dream home in the Tahoe Keys!

For more information about Tahoe Keys real estate, please call Brent and Jill Johnson at (530) 416-2625 today!

Tahoe Keys Properties are off to a Slow Start

With only four houses in the Tahoe Keys that have sold so far this year, the Keys area is off to a very slow start in 2009. Two of the sold homes in the Tahoe Keys were distress sales, one was a foreclosure and one was a short sale. As you would expect, Tahoe Keys property values are down due to the lack of demand from buyers.

The average price per square foot of the four Tahoe Keys homes that have sold so far this year is only $313. The sold price per square foot so far this year is very close to what it was in 2003 which was $305. The median sales price for the sold Tahoe Keys homes was $757,500, 11% less than what it was in 2008 and 33%less than what it was during the peak of the real estate market in 2005.

 

Here is a break down of the sold single family homes in the Tahoe Keys area from the South Lake Tahoe mls beginning in 2003.

2003 Sold Tahoe Keys Houses

• 60 Sold Tahoe Keys homes
• Average sales price $731,704
• Median sales price $692,450
• Average price per square foot $305

2004 Sold Tahoe Keys Houses

• 69 Sold Tahoe Keys homes
• Average sales price $946,663
• Median sales price $820,000
• Average price per square foot $389

2005 Sold Tahoe Keys Houses

• 49 Sold Tahoe Keys homes
• Average sales price $1,166,367
• Median sales price $1,130,000
• Average price per square foot $473

2006 Sold Tahoe Keys Houses

• 35 Sold Tahoe Keys Houses
• Average sales price $1,009,354
• Median sales price $1,000,000
• Average price per square foot $475

2007 Sold Tahoe Keys Houses

• 37 Sold Tahoe Keys Houses
• Average sales price $1,155,000
• Median sales price $960,000
• Average price per square foot $476

2008 Sold Tahoe Keys Houses

• 32 Sold Tahoe Keys Houses
• Average sales price $900,366
• Median sales price $847,500
• Average price per square foot $388
• There were 3 foreclosures in the Tahoe Keys that sold
• The average price per square foot for the Tahoe Keys foreclosures was $303
• The median sales price for the Tahoe Keys foreclosures was $420,000
• The average sales price for the Tahoe Keys foreclosures was $581,667

2009 Sold Tahoe Keys Homes from 1/1/09 to 4/28/09

• 4 Sold Tahoe Keys homes
• Average sales price $825,000
• Median sales price $757,500
• Average price per square foot $313
• One of the sold Tahoe Keys homes was a bank owned foreclosure
• One of the sold Tahoe Keys homes was a short sale

Currently there are 59 Tahoe Keys Listings on the South Lake Tahoe mls and 6 of them are listed as short sales. Out of the 59 Tahoe Keys listings, there are currently 5 in escrow, and 2 of them are short sales. There are no bank owned properties in the Tahoe Keys that are currently available for sale. There may soon be a foreclosure in the Tahoe Keys because there are a couple of Notices of Default posted in the Tahoe Keys. I will make sure to post any new Tahoe Keys foreclosure listings on my website as soon as they hit the market.

With Tahoe Keys properties selling for close to what they were in 2003 and interest rates under 5%, it could be the best chance to purchase waterfront property in South Lake Tahoe. There are now homes for sale in the Tahoe Keys with lake access for under $600,000!

For more information about Tahoe Keys properties, contact Brent and Jill Johnson today!

Tahoe Keys Real Estate

The Tahoe Keys is a 740 acre private marina community. There are waterfront homes located on 11 miles of inland waterways that lead to the emerald waters of Lake Tahoe. Homeowners in the Tahoe Keys have

 

The Tahoe Keys Property Owners Association is the Tahoe Keys HOA.  HOA fees are $1919 annually for houses and from $1000 to $1400 quarterly 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 $400,000, and homes on Lighthouse Shores and Beach priced over $7,000,000.

Tahoe Keys condos range from $250,000 for a one bedroom, to over $1,000,000+ for a lakefront.

The 2008 Tahoe Keys sales statistics for single family detached dwellings are as follows

• Median sales price $847,500 (down 12% from $960,000 in 2007)
• 32 Units sold (down 5 units from 37 in 2007)
• Average days on market 196 (up from 185 in 2007)
• Lowest 2008 sale $399,000
• Highest 2008 sale $2,150,000

 

 

                                                       

 

 

For more information about Tahoe Keys Real Estate, South Lake Tahoe Real Estate, or the South Lake Tahoe MLS, please contact Brent and Jill Johnson today!