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

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.

South Tahoe Real Estate Review for May

After a very long winter here in Lake Tahoe the weather is finally warming up and Highway 50 is busy with visitors looking to escape the heat of the valley.  The South Lake Tahoe Real Estate market should heat up this summer as well now that home prices are the lowest that they have been in years.

In May there were 35 homes in South Lake Tahoe that were sold on the South Tahoe MLS. Distress sales accounted for 22 of the 35 home sales. Short sales accounted for 8 of the distress sales and foreclosures accounted for the other 14.

Both the average sales price and the median sales prices were down sharply last month. The average price per square foot was only down slightly.

South Lake Tahoe Real Estate Statistics

• The average price per square foot of the sold  houses in South Lake Tahoe in May was $183 per square foot, down from $186 per square foot in April.
• The average sales price was $316,777,  down from $342,063 in April.
• The median sales price was $285,000, down from $314,500.
• The average days on the market was 163 and the median days on the market was 114.
• There were 8 short sales in South Lake Tahoe that were sold in May, the same number of short sales that were sold in April.
• There were 14 foreclosures in South Lake Tahoe that were sold in May, the same number of foreclosures that were sold in April.

The foreclosures in South Lake Tahoe  that were sold in May had an average price per square foot of $153 and the short sales had an average price per square foot of $173. The non distress sale properties that sold had an average price per square foot of $221. The average sales price of the foreclosures was $262,193 vs $400,963 for the non distress sales. The median sales price of the foreclosures in South Lake Tahoe that were sold was $$205,000 vs $360,000 for the non distress sales.

The short sales in South Lake Tahoe  that were sold had an average price per square foot of $173,  a median sales price of $244,000 and an average sales price of $275,000.

As you can see, the distress sales continue to bring down the average sales price, median sales price, and average price per square foot of the home sales in South Lake Tahoe.

Tahoe Keys Real Estate

Spring is the time of year when the homes in the Tahoe Keys begin to sell as well. This year the lake is almost full and the water levels in the Tahoe Keys look Great! There were 6 Tahoe Keys properties that were sold in May. There were 2 Tahoe Keys condos that were sold and 4 homes that were sold. Two of the homes that sold were foreclosures and one was a short sale.

Tahoe Keys Waterfront Just Reduced!

2213 Texas Ave.

Just Reduced!!!

Ofered at $439,000

South Lake Tahoe Real Estate agents Brent and Jill Johnson have just listed one of the least expensive waterfront properties in South Lake Tahoe! This waterfront home is located in the Tahoe Keys and has expansive waterfront views and amazing sunsets! You will be impressed with this recently remodeled Tahoe Keys home that overlooks Lake Tallac. The 2007 remodel included new kitchen with hickory cabinets, quartz slab counter tops, stainless steel appliances, and distressed hickory hardwood flooring. The windows have been replaced with new double pane vinyl frame windows and the roof was replaced about 7 years ago. The second level of this upstairs living house is wheel chair accessible by a ramp that connects to the upper back deck.

click on this link to see the virtual tour of this remodeled house for sale in the Tahoe Keys!

• 3 bedrooms, 2 bath, 2 car garage
• 1440 square feet
• 6753 square foot lot
• recently remodeled including new front siding and a new roof!
• Great Tahoe Keys HOA amenities including indoor and outdoor pools, spa, beach, pier, boat launch, marina, park, tennis, basketball, volleyball, and security

For more information about this great house in the Tahoe Keys area please give South Lake Tahoe real estate agent Brent Johnson a call today!

April South Lake Tahoe Real Estate Statistics

As usual, when the weather warms up in South Lake Tahoe, the real estate market follows. Home sales continued their upward trend and rose from 40 houses sold in March, to 46 houses sold in April. This is a huge jump from April 2009 when only 26 houses closed escrow. The continuing improvements in the economy, low interest rates, low prices, and the first time home buyer tax credits stimulated the increase in sales. There are currently 438 listings on the South Lake Tahoe MLS, and 108 of them are in escrow.

 Distress sales dropped from 58% of the sales in March to 48% in April. There were 18 bank owned foreclosures and 4 short sales that sold in April. Currently there are 30 bank owned foreclosures listed on the South Lake Tahoe MLS, and 15 are in escrow. There are 79 short sale listings, and 50 of the short sales are in escrow.

April South Lake Tahoe Real Estate Statistics

• There were 46 single family home sales in April, up from 40 in March, and up from 26 in April 2009.
• The average price of the homes sold in South Lake Tahoe was $386,177, down from $404,053 in March, and up from $327,342 in April 2009.
• The median sales price was $329,163, down from $350,500 in March, and up from $295,000 in April 2009.
• The average price per square foot was $211 which was down from $221 in March, and up from $204 in April 2009.
• The average days on the market was 158 which was up from 141 in March, and down from 190 in April 2009.
• The median days on the market was 112 which was up from 111 in March, and up from 108 in April.
• There were 18 bank owned foreclosures that sold in April, up from 16 in March, and up from 7 in April 2009.
• There were 4 short sales that sold in April which was down from 7 in March, and up from the 2 that sold in April 2009.

Spring and Summer is also the time that the Tahoe Keys Real Estate typically begins to pick up. In April there were 5 houses that sold in the Tahoe Keys area. One of the houses sold was a foreclosure and one was a short sale. There are currently 66 listings in the Tahoe Keys on the South Lake Tahoe MLS and only 9 are in escrow. The least expensive single family home listing on the water is my listing at 2213 Texas. This is a 3 bedroom, 2 bath, 2 car garage house that has been completely remodeled and has great views.

For more information about the South Lake Tahoe real estate market, please call California and Nevada real estate agent Brent Johnson today!!!

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