Tahoe Keys Real Estate

With summer just around the corner, I figured that it would be a great time to provide an update on the Tahoe Keys Real Estate market. This is the time of year when the activity in the Tahoe Keys begins to heat up.

There are currently 21 single family homes for sale in the Tahoe Keys ranging from a small 2 bedroom home for $399,900 (not backing to water) to a 7,339 square foot lakefront property offered at $4,700,000. Only 15 of the current Tahoe Keys listings back to the water and have lake access. The remaining 6 listings either back to Lake Tallac or do not back to any kind of water. Hopefully as summer goes on, more listings will come up in the Tahoe Keys.

The HOA fees for single family homes in the Tahoe Keys runs about $164 per month. Tahoe Keys HOA amenities include tennis courts, indoor/outdoor pools, spa, beach use, pier, basket ball, volley ball, security, water way maintenance, common area maintenance, and boat launch. I also included the domestic water in the HOA fee but not sewer.

There are currently 15 Townhouses for sale in the Tahoe Keys ranging from a 507 square foot studio for $149,000, to a remodeled lakefront unit offered at $1,500,000. Townhouses in the Tahoe Keys remain as the most affordable waterfront properties in the South Lake Tahoe area. Keep in mind that the HOA fees for the Townhouses run on average between $500 and $600 a month. This fee includes all of the Keys amenities along with exterior maintenance, exterior insurance, snow removal, and roof repairs.

So far this year there have been 15 homes sold in the Tahoe Keys that were listed on the South Lake Tahoe MLS. The average sales price has been $1,073,267 and the median sales price has been $727,500. Over the last 12 months the median sales price was $730,000, up from $633,000 from the previous 12 month period. This is almost a $100,000 increase in just 12 months (15.3% increase). The average price per square foot of the homes that have sold has been $377, up from $321 in 2013.

Although the median price of the homes sold in the Tahoe Keys was up, the number of total sales was down. There have been 51 homes sold in the Tahoe Keys in the last 12 months, down from 81 Keys sales in the previous 12 month period.

There have been 7 townhouses in the Tahoe Keys that have sold so far in 2014. The average sales price of the townhouse sales has been $392,143 and the median sales price has been $355,000. The average price per square foot has been $283 which is up from $279 in 2013.

For more information about real estate in the Tahoe Keys area please call Brent Johnson at (530) 416-2625 today!

Tahoe Keys Real Estate

The Tahoe Keys Real Estate market has always seemed to very active during the summer months so I though that I would post the latest statistics in preparation for another busy summer. The inventory of houses for sale in the Tahoe Keys continues to remain low, similar to the rest of the areas in South Lake Tahoe. There are currently only 33 single family homes listed on the South Tahoe MLS. Out of the 33 listings 24 are active and 9 are active pending. With only 24 active listings out of the 1250 homes in the Tahoe Keys there is not a lot to choose from.

The biggest change in the inventory of homes for sale in the Keys is the lack of lower priced properties. The least expensive home currently for sale in the Keys on the water with lake access is$779,000. This is a huge change when just 12 months ago there were about a dozen homes on the water priced under $700,000.

There are a few distress sales currently listed in the Tahoe Keys. There are two short sales that are currently in escrow and one foreclosure listing that is not on the water but is still available. There is also a foreclosure listing that was not listed on the South Lake Tahoe mls on Lucerne that was listed on the Metrolist mls and had multiple offers within a couple of days of being listed.

So far this year there have been 35 houses in the Tahoe Keys that were sold on the South Lake Tahoe MLS. Out of the homes that were sold 27 were on the water with lake access and 8 of the homes did not have lake access.

Tahoe Keys Real Estate Statistics

There have been 35 single family homes sold in the Tahoe Keys so far in 2013
The average sales price has been $730,029
The median sales price has been $634,500
The average price per square foot was been $313
The median days on the market has been 126 and the average days on the market has been 164
There has been one foreclosure and one short sale that has closed escrow so far this year

For more information about Real Estate in the Tahoe Keys please contact Brent Johnson at (530) 416-2625 today!

Tahoe Keys Townhouse Statistics

Now that the Tahoe Keys Real Estate market has heated up for single family homes I expect the townhouses to follow the same trend. There are currently only 18 single family homes for sale in the Tahoe Keys that are on the water with Lake access. Only 7 of the Keys homes are priced under $1,000,000. This is down from around 20 Keys homes under $1,000,000 last year. As the prices continue to rise in the Tahoe Keys I anticipate the activity on the Townhouses to improve as well. Owning a Townhouse in the Tahoe Keys is still the least expensive option for waterfront living in Lake Tahoe. It is hard to beat stepping out of your back door and into your boat to enjoy the gorgeous emerald water in Lake Tahoe!

There are currently 10 townhouses in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 10 listings, 2 are in escrow and 8 are still available. The prices for the townhouses range from $159,000 for a 507 square foot remodeled studio up to $649,000 for a 3 bedroom, 2 bath unit next to the lake. The HOA fees for the townhouses range from $488.25 a month to $599.25 a month including domestic water.

There have been 3 townhouses in the Tahoe Keys that have sold so far in 2013. Two of the sold townhouses were studio units and one was a 3 bedroom, 3 bath unit. The average sales price was $245,000 and the average price per square foot was $227. One of the studio sales was a bank owned foreclosure which sold for $105,000.

2012 Tahoe Keys Townhouse Statistics

There were 16 townhouses in the Tahoe Keys that were sold in 2012.
There were 2 bank owned foreclosures and 3 short sales that were sold in 2012.
2012 average sales price was $314,124.
2012 median sales price was $322,500.
2012 price per square foot was $242.
2012 median days on the market was $135.

2011 Tahoe Keys Townhouse Statistics

There were 19 Townhouses in the Tahoe Keys that were sold in 2011.
There were 2 short sales and 2 bank owned foreclosures that sold in 2011.
2011 average sales price was $317,220.
2011 median sales price was $310,000.
2011 average price per square foot was $240.
2011 median days on the market was 123.

2006 Tahoe Keys Townhouse Statistics

There were 16 Townhouses in the Tahoe Keys that were sold in 2006.
None of the sales were bank owned or short sales.
2006 average sales price was $652,148.
2006 median sales price was $616,000.
2006 average price per square foot was $486.
2006 median days on the market was 100.

With the average sales price, median sales price, and the average price per square foot of the townhouses in the Tahoe Keys currently at about 50% of what they were in 2006 it may be a great time to invest in one. As the summer approaches and the channels begin to fill with boats the Townhouses in the Tahoe Keys should get some attention. For more information about the Tahoe Keys Real Estate market please call Brent Johnson at (530) 416-2625!

Tahoe Keys Real Estate Statistics

The Tahoe Keys Real Estate market appears to have began its recovery after 5 long years of declining prices. In 2012 the Tahoe Keys area saw an increase in median and average sale prices, units sold, and total dollar volume sold for single family homes. Not only was volume and units sold up from 2011, both were up from when the market was at its peak in 2006-2007.

In 2012 there were 62 single family homes in the Tahoe Keys that were reported as sold on the South Lake Tahoe MLS. In 2011 there were 47 single family sales and in 2006 there were only 35 reported sales. The total dollar volume for the sales in 2012 was $51,109,800, well above 2011 in which the sales volume was $36,776,700 and the 2006 volume of $35,327,338.

The sales prices in the Tahoe Keys were up modestly in 2012. The median sales price for the sold single family homes in the Tahoe Keys was $614,500 which was up 4% from 2011 when the median sales price was $591,500. The average sales price was up 5% in 2012 from $782,483 to $824,352. The average price per square foot went from $299 in 2011 to $319 in 2012.

Distress sales in the Tahoe Keys were few and far beteween in 2012. There were only 4 foreclosures that were sold and 7 short sales that were sold on the South Lake Tahoe MLS which represented only 18% of the sales last year. In 2011 distress sales accounted for 36% of the homes in the Tahoe Keys that were sold (9 foreclosures and 8 short sales).

Tahoe Keys Real Estate Statistics for 2012

There were 62 single family homes in the Tahoe Keys that were sold, up from 47 in 2011 and up from 35 in 2006.
The median sales price was $614,500, up from $591,500 in 2011 and down from $1,000,000 in 2006.
The average sales price was $824,352, up from $782,483 in 2011 and down from $1,009,354 in 2006.
The average price per square foot was $319, up from $299 in 2011 and down from $475 in 2006.
The median days on the market was 95, down from 165 in 2011 and down from 118 in 2006.

Now that the Tahoe Keys Real Estate market is on the upswing, the biggest hurdle that buyers now face is the lack of inventory. There are currently only 25 single family homes for sale in the Tahoe Keys area that are now active. Out of the 25 active listings only 21`of them are on the water with lake access. Of the active listings in the Tahoe Keys with lake access there are only 11 under $1,000,000.

There are currently 11 single family homes in the Tahoe Keys that are in escrow which represents over 30% of the current inventory. Included in the 11 properties under contract are the only current short sale and foreclosure listings in the Tahoe Keys.

The Tahoe Keys real estate market is usually quiet during the winter time and then gets active in the spring and summer months. This winter has been an exception to that trend and has been quite active. If the demand for properties rises this spring as it usually does and the inventory does not increase, we will most likely see prices jump yet again.

If you have been on the fence about purchasing a property in the Tahoe Keys, now is the time to buy. Take advantage of the low prices and the historical low interest rates before you miss the boat!

Tahoe Keys Partial Share Ownership is Against the Rules

I get a lot of calls regarding some of the partial ownership listings that are currently listed on the South Lake Tahoe MLS. The partial ownership listings sometimes look too good to be true, that’s because they are! According to the Tahoe Keys Property Owners Association it is against the Governing Laws of the Association to sell partial ownership shares of a property within the Tahoe Keys.

The following information was posted on the Tahoe Keys Property Owners website:

Several Tahoe Keys property owners and the Tahoe Keys Property Owners Association (TKPOA) Board of Directors have noticed properties in the Keys being advertised for sale on a partial share or less than whole conveyance basis. All realtors and property owners should be advised that it is against the Governing Laws of the Association to sell, or offer for sale, partial shares or other than whole conveyance of any property in Tahoe Keys.
The Governing Law is part of the Association CC&R’s and the restrictions of property conveyance are stated in Article VIII, Sections 2(c), 3, and 20(a). Specifically, Article VIII, Section 3(c) states, “Dwellings shall not be rented, leased, or conveyed on a time share or interval ownership basis (as defined in California Business and Professions Code Section 1103.5 or comparable superseding statute)…,” and Article VIII Section 20 (a) states, “…no lot shall be further subdivided nor shall less than all of any such lot be conveyed by an owner…”

Any sale or offer for sale of partial shares or other than whole conveyance is subject to fine assessment against the property owner and a potential lien on the property. Please share this information with your colleagues and advise your buyers and sellers of this restriction.

The next time that you see a property for sale in the Tahoe Keys that is being sold as a partial ownership share you will know that it is too good to be true!

Here is a current list of houses for sale in the Tahoe Keys. For more information about the Tahoe Keys Real Estate market please call Brent Johnson at (530) 416-2625!

Townhouse in the Tahoe Keys Priced to Sell!

Tahoe Keys Townhouse Priced to Sell!

2031 Venice Drive #316

This 3 bedroom, 3 bathroom, 1,440 square foot waterfront townhome is priced to sell. Located in a quiet and private section of Islander 3, this townhome has the largest deck in the complex overlooking the water. The bottom floor of this unit has gorgeous historical pine hardwood flooring that was reclaimed from a river bed in Alabama. A new gas stove, plantation shutters, and newer appliances will make this townhome a pleasure to visit. The deep water dock has easy access and will accommodate a large boat. Enjoy use of the great Tahoe Keys ammenities such as the olympic size indoor swimming pool, outdoor pool, spas, tennis courts, vollyball, basketball, security, and more. This waterfront townhome is being sold mostly furnished and is a must see!