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!