When comparing 2021 to 2020 the Tahoe Keys neighborhoods showed an upswing in values in the real estate categories that we follow. While the number of sales decreased in 2021 the average and median sale prices increased significantly when compared to the year before. The average dollar per square foot and list to sale price ratio also increased while the inventory of homes on the market decreased. Overall the Tahoe Keys neighborhood is in high demand and continues to be a sellers market going into the year 2022. 

Tahoe Keys	2020	2021
Number of Sales	96	57
Median Sale Price	$1,007,500	$1,470,000
Average Sale Price	$1,288,900	$1,731,596
Average List to Sale Ratio	96%	98.3%
Median Dollar Per Square Foot	$537	$669
Days on the Market	87	92
Month Supply	2.8	1.1 (-60.7%)

 

The Tahoe Island Drive and Tahoe Island Park neighborhoods showed big increases in the sales price and average dollar per square foot when comparing 2021 to the end of 2020. Other increases were seen in the average list to sale price ratio and the listings were on the market for less time than in 2020. The number of sales decreased but that is likely due to the increase in the average month supply of inventory which we saw in both Tahoe Island Drive and Tahoe Island Park. Overall, the market statistics we follow show a current sellers market for these neighborhoods.

Tahoe Island	2020	2021
Number of Sales	60	48
Median Sale Price	$520,000	$625,750
Average Sale Price	$552,468	$691,341
Average List to Sale Ratio	102.5%	103.6%
Median Dollar Per Square Foot	$347	$439
Days on the Market	84	56
Month Supply	Tahoe Island Drive 1.5 Tahoe Island Park 1.6	Tahoe Island Drive 0.8 Tahoe Island Park 1

 

The Gardner Mountain values continue to rise with an increase in both the average and median sale prices as well as the average dollar per square foot when comparing the totals for 2021 to 2020. The average time on the market for listings remained about the same and so did the number of sales. The list to sale price went down slightly and the months supply of homes for sale decreased by 18.2% in 2021 indicating that this neighborhood continues to be a sellers market. 

Gardner Mountain	2020	2021
Number of Sales	29	28
Median Sale Price	$469,000	$639,000
Average Sale Price	$507,604	$759,925
Average List to Sale Ratio	104.4%	103.3%
Median Dollar Per Square Foot	$363	$405
Days on the Market	72	77
Month Supply	2.2	1.8 (-18.2%)

 

The Bijou 1 & 2 neighborhoods showed less sales and a lower list to sale price ratio in 2021 when compared to 2020, however, most of the other market statistics we follow showed an upswing. The median and sale prices increased as did the average dollar per square foot. The average time on the market remained the same but the months supply of homes for sale decreased by 60% in the Bijou 1 area but increased by 8% in the Bijoy 2 neighborhood. Overall these neighborhoods seem to still be showing signs of values increasing and remaining a sellers market.

Bijou 1 & 2	2020	2021
Number of Sales	87	74
Median Sale Price	$470,000	$600,000
Average Sale Price	$556,141	$730,769
Average List to Sale Ratio	102.2%	100.2%
Median Dollar Per Square Foot	$367	$463
Days on the Market	73	74
Month Supply	Bijou 1: 2.5 Bijou 2: 1.2	Bijou 1: 1 (-60%) Bijou 2: 1.3 (+8.3%)

 

Most of the market conditions continue to rise in the Al Tahoe neighborhood which is seen when we compare the end of the year statistics from 2021 to the previous year. Both the median sale price and the average dollar per square foot both went up in 2021 and the number of months supply of homes decreased by 48% (indicating a seller’s market). The number of sales also increased, however, the list to sale price ratio went down and the average time on the market rose slightly. 

Al Tahoe	2020	2021
Number of Sales	10	55
Median Sale Price	$565,000	$635,000
Average Sale Price	$929,720	$771,555
Average List to Sale Ratio	102%	99.3%
Median Dollar Per Square Foot	$427	$521
Days on the Market	62	84
Month Supply	3.9	2