The Tahoe Keys 2015 market comparison report showed mostly positive notes in the real estate categories we followed throughout the year. When comparing 2015 to 2014, we find that the number of sales decreased slightly but the median sale price, median dollar per square foot and list to sale price ratio all went up. The days on the market decreased in 2015 (the time a home is on the market from the listing date to the close of the sale).
| Tahoe Keys Market Comparison | 2015 | 2014 |
|---|---|---|
| Number of Sales | 37 | 40 |
| Median Home Price | $785,000 | $723,750 |
| Average List to Sale Ratio | 98.7% | 97.3% |
| Median Dollar Per Square Foot | $345 | $327 |
| Days on the Market | 133 | 153 |
Current Market Conditions
As of January 5, 2016 the Tahoe Keys neighborhood reports 19 homes on the market (active and in escrow) ranging from a minimum of $578,888 to a high of $1,800,000. The basic law of supply and demand is described in real estate terms as the “absorption rate.” Absorption rate (or monthly supply of inventory) are a calculation based upon the rate of closed sales to active listings. It is an accurate way to keep track of market trends. It is considered a balanced market when there is a six-month supply of homes available for sale. This indicates that that there is enough inventory to supply the current demand of buyers looking to purchase. Less than six months is considered a seller’s market and greater than six months is a buyer’s market. As of December 31, 2015 the Tahoe Keys neighborhood is reporting a month supply of 7.4 homes as compared to 5.9 for the same time in 2014.
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