Tahoe Keys Real Estate Update

The Tahoe Keys real estate update is in and so far it seems to be a mixed bag with both positive and negative notes. Currently, home prices in the neighborhood continue to decrease a little bit. The median sales price is $679,000 (down 7.9% compared to this time last year) while the average sales price is $738,946 (down 12.6% compared to this time last year). Now while generally we don’t like to see prices drop at all, it is important to note two things that make Tahoe Keys real estate unique compared to the rest of South Lake Tahoe’s neighborhoods. 

1.) Tahoe Keys real estate still has the highest median and average sales price compared to any other neighborhood in South Lake Tahoe, CA. It has been this way consistently for quite some time. 

2.) Real Estate in Tahoe Keys is considered a “buyer’s market” with a month supply of 5.2. Anything under 4 is considered a sellers market. This basically means that there is inventory available for purchase. 

Which brings us to the next point: Closed sales are UP 39.7% compared to this time last year. New listings are also up 10.8%. Pending sales are up 22.6%. Percentage of list price on both average and median is up around 2%. Not a huge increase like some of these other categories, but an increase in percentage of list price tells us that those selling real estate in Tahoe Keys are getting offers closer to the asking. 

Whether you are buying or selling real estate in Tahoe Keys, it is crucial to know what is happening in the neighborhood. As a seller, you want to make sure you price your home appropriately. As a buyer, you want to make sure you are purchasing at a market value which is based on current market conditions. For more information on real estate in this area, give me a call at 530-308-4331. 

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