September South Tahoe Real Estate Statistics

September was a big month for sold homes in South Lake Tahoe. There were 62 single family properties that had closed escrow in September, up from 44 sold properties in August. Of the 62 properties that were sold in September, 58 were detached single family homes and 4 were condos.

Distress sales accounted for 27 of the sold properties in September. There were 10 short sales and 17 bank owned foreclosures that were sold in September. The short sales had an average sales price per square foot of $193 and the foreclosures had an average price per square foot of $145. The non-distress sale properties had an average price per square foot of $198.

September South Tahoe Real Estate Statistics

• There were 62 single family homes reported as sold on the South Lake Tahoe MLS in September, up from 44 in August.
• The average price per square foot of the single family homes in South Lake Tahoe that were sold in September was $183, down from $192 in August.
• The average sales price was $306,721, down from $343,558 in August.
• The median sales price was $233,250, down from $295,000 in August.
• There were 10 short sales in South Lake Tahoe that sold, up from 6 in August.
• There were 17 bank owned foreclosures in South Lake Tahoe  that sold, up from 11 in August.
• The average days on the market was 136 and the median days on the market was 99.

September Statistics for Foreclosures in South Lake Tahoe

• The 17 foreclosures that sold in September had an average price per square foot of $145.
• The average sales price of the foreclosures was $258,292.
• The median sales price of the foreclosures was $213,357.
• The average days on the market was 113 and the median days on the market was 87.

September Statistics for Short Sales in South Lake Tahoe

• The 10 short sales that sold in September had an average price per square foot of $193.
• The average sales price was $331,252.
• The median sales price was $215,000.
• The average days on the market was 264 and the median days on the market was 245.

With only 4 condos that were sold in September there is not enough sales to report the statistics. Three of the condos that were sold were in the Tahoe Keys which does not surprise me. The summer time is when the Keys Condos seem to sell the best.

South Tahoe Real Estate for July 2011

As of July 31st there were 497 single family homes and condos listed on the South Tahoe MLS. Out of the 497 property listings, 85 were in escrow and 412 were active.  Short sales accounted for 81 of the listings and foreclosures accounted for 63 of the listings. Although the Median sales price seemed to have leveled off from October through March, it began to slip again this summer. The Median sales price of the homes sold has gone down 10.9% from what it was in July 2010.

Distress sales accounted for 55% of the properties that were sold in July. There were 15 foreclosures that were sold and 8 short sales that were sold. The foreclosures had an average sales price per square foot of $150, the short sales had an average price per square foot of $199 and the non-distress sales had an average price per square foot of  $199. All of the properties together had an average sales price per square foot of $182.

July 2011 South Lake Tahoe Real Estate Statistics

• The median sales price of the properties in South Lake Tahoe that were sold in July 2011 was $291,000, down from $298,250 in June.
• The average sales price of the properties that were sold in South Lake Tahoe was $301,743, down from $394,809 in June.
• The average price per square foot was $182, down from $191 in June.
• The average days on the market was 133 and the median days on the market was only 77.
• There were 15 foreclosures in South Lake Tahoe that were sold in July, there were 16 foreclosures that were sold in June.
• There were 8 short sales in South Lake Tahoe that were sold in July, there were 11 short sales that were sold in June.

 

There was more activity on Lots in South Lake Tahoe last month than there has been in a long time. There were 5 lots reported as sold on the South Lake Tahoe MLS, but there were 6 that were actually sold. The prices ranged from $25,000 all the way up to $200,000.  Currently there are 162 lots listed on the MLS and only 9 of them are in escrow.

Tahoe Keys Condos accounted for 3 of the 5 condos that were sold in July. The least expensive Keys condo was a 3 bedroom, 2 bath condo with a boat dock that sold for $250,000. There are currently 63 condo listings on the South Tahoe MLS. There are 6 condos that are in escrow and 57 that are active.

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 HOA Fees

Owning a home in the Tahoe Keys has its advantages. In addition to waterfront living, there are other great amenities that Tahoe Keys homeowners have access to. Homeowners will have access to the indoor pool, outdoor pool, spa, tennis courts, basketball courts, playground, private beach and pier, and marina use.

Although the amenities are great, they do come with a fee. The Tahoe Keys Property Owners Association fees are $1,412 annually. The Tahoe Keys also has its own water company which charges $507 annually, so the total TKPOA dues plus the water dues are $1,919 annually ($159.92 a month). Lighthouse Shores has its own particular dues. The annual Keys dues include the Common Operating Fund, Common Capital Reserve Fund, Water Quality Operating Fund, and Water Quality Reserve fund.

In addition to the Tahoe Keys Property Owners Association dues and the water company fees, condos in the Tahoe Keys have additional subdivision dues that cover exterior maintnence, exterior insurance, roof repairs, refuse, and snow removal. The subdivision dues depend on the subdivision that the condo is located in. The fee schedule is as follows.

• Door #’s 1-77 in Cove 5 are $4,097 plus $1,919 for the HOA and water fees.
• Door #’s 78-91 in Cove 4 are $4,165 plus $1,919 for the HOA and water fees.
• Door #’s 92-110 in Cove 3B are $3,285 plus $1,919 for the HOA and water fees.
• Door #’s 111-145 in Cove 3C are $3,123 plus $1,919 for the HOA and water fees.
• Door #’s 146-167 in Cove 3A are $3,602 plus $1,919 for the HOA and water fees.
• Door #’s 168-187 in Cove I are $3,555 plus $1,919 for the HOA and water fees.
• Door #’s 188-207 in Cove II are $3,612 plus $1,919 for the HOA and water fees.
• Door #’s 208-236 in Cove IIA are $3,336 plus $1,919 for the HOA and water fees.
• Door #’s 237-275 in Tahoe Marina Shores I and II are $3,911 plus $1,919 for the HOA and water fees.
• Door #’s 276-293 in Islander II are $4,290 plus $1,919 for the HOA and water fees.
• Door #’s 294-302 in Islander I are $3,746 plus $1,919 for the HOA and water fees.
• Door #’s 303-335 in Islander III are $3,800 plus $1,919 for the HOA and water fees.

Owning a condo in the Tahoe Keys is one of the least expensive ways to purchase waterfront property in South Lake Tahoe. The subdivision dues in addition to the HOA fees may seem like a big expense, but when you factor in the location it may be worth it!

For more information about houses for sale in the Tahoe Keys  and Tahoe Keys Condos, please call Brent and Jill Johnson, your resource for Tahoe Keys real estate.

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!

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