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!