Tahoe Keys Real Estate Statistics for 2011

The real estate market in the Tahoe Keys was quite active in 2011, but home values continued to slip throughout the year. According to the South Lake Tahoe MLS , the Tahoe Keys area had a 12.4% decrease in the median sales price in 2011 compared with 2010. The median sales price for single family homes (excluding town houses) was $591,500 in 2011, down from $675,500 in 2010. The Tahoe Keys area  held values better than the South Shore as a whole.  The South shore had a 16 % decrease in the median sales price in 2011. The median sales price in the Tahoe Keys area is now almost half of what it was in 2005. In 2005 the median sales price of the single family homes that were sold in the Tahoe Keys was $1,145,000!

Tahoe Keys Real Estate Statistics

• There were 47 single family homes in the Tahoe Keys that were sold in 2011, down from 54 sales in 2010 and down from 52 sales in 2005.
• The median sales price was $591,500, down from $675,500 in 2010 and down from $1,145,000 in 2005.
• The average sales price in the Tahoe Keys was $$782,483, down from $837,769 in 2010 and down from $1,218,981 in 2005.
• The average price per square foot was $299, down from $333 in 2010 and down from $484 in 2005.
• The average days on the market was 225, up from 196 in 2010 and up from 91 in 2005.

Out of the 47 houses in the Tahoe Keys that were sold, 17 were distress sales. Foreclosures accounted for 9 of the distress sales and short sales accounted for the other 8 sales.

Foreclosures in the Tahoe Keys

• The average sales price for the sold bank owned properties in the Tahoe Keys was $620,978.
• The median sales price for the foreclosures was $599,900.
• The average days on the market was 171 and the median days on the market was 108.
• The average price per square foot was $248.

Short Sales in the Tahoe Keys

• The average price of the sold short sales in the Tahoe Keys was $643,688.
• The median sales price of the short sales was $491,750.
• The average days on the market was 381 and the median days on the market was 362.
• The average price per square foot was $288.

Now that the median sales price in the Tahoe Keys area is almost half of what it was in 2005, this is a great opportunity to purchase a water front property in South Lake Tahoe. Make sure that you are signed up for New Listing Notifications on my website www.JohnsonsTahoeRealEstate so that you are automaticaly notified when there are new listings and price reductions in the Tahoe Keys. Although prices are down in the Tahoe Keys, there is a lot of activity  For more information regarding the Tahoe Keys Real Estate market, please give me a call!

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!