Luxury Trends 1st Quarter 2017 Tahoe/Truckee Market Report
1st Quarter 2017
DicksonLuxury.com
COVER PROPERTY FEATURED:
7480 LAHONTAN DRIVE $2,400,000, MLS# 20170189 *PHOTO IS OF MODEL HOME
Welcome TO OUR 1ST QUARTER 2017 LUXURY MARKET REPORT. Happy Spring? With over 200% precipitation recorded year-to-date, we’re hopeful that these lingering rain/snowy storms will soon be at an end for the season! The number of luxury homes sold during this 1st quarter of 2017 was down by 28% from 1st quarter of 2016, but average sales prices were up by 7%. The majority of sales (71%) were in the $1MM to $2MM range. The North and West Shores of Lake Tahoe accounted for 9 of the 38 sales, one additional in Squaw Valley, and the remaining 28 were in Truckee. Active inventory, as compared to 1st quarter of 2016, is down by over 30%, which obviously also affects sales. Although interest rates are expected to rise this year, as has already occurred once, the proposed tax restructuring and robust stock market will likely offset those increases. We anticipate the coming year to be stable, and the sales to be similar or slightly improved over 2016. With the favorable winter conditions we experienced this year, buyers are again excited about our mountain communities, which offer a multitude of recreational opportunities. Now more than ever it is important to use the skills of a real estate professional specializing in luxury home sales. Our highly trained, experienced agents are here to assist you whether buying, selling, or both!
—Broker/Manager, Dickson Realty Truckee
Luxury Home Averages Over $1 Million 1st Quarter 2017 vs. 2016
-28%
7%
N/C
-1%
TOTAL UNITS SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2017: 38 2016: 53
2017: $2,616,671 2016: $2,434,477
2017: $641 2016: $639
2017: 172 2016: 174
Source: Tahoe Sierra Multiple Listing Service (TSMLS) transaction volume for all transactions over $1 million for all of Truckee/North & West Shores, Lake Tahoe, CA, January 1-March 31, 2017 as of April 11, 2017.
Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
28 $2,059,946 $5,375,000
Alpine Meadows NUMBER OF SALES
NUMBER OF SALES
$0
AVERAGE SALES $
$1,800,000
HIGHEST SALE $
$0
HIGHEST SALE $
$1,800,000
4
West Shore, Lake Tahoe, CA NUMBER OF SALES
AVERAGE SALES $
$1,660,000
AVERAGE SALES $
HIGHEST SALE $
$3,350,000
HIGHEST SALE $
Active Listings Over $1 Million $5,000,000 and higher
14%
1
AVERAGE SALES $
North Shore, Lake Tahoe, CA NUMBER OF SALES
0
Squaw Valley
$3,000,000– $4,999,999
$6,663,000 $15,000,000
Sold Listings Over $1 Million $5,000,000 and higher
$1,000,000– $1,999,999
48%
5
$1,000,000– $1,999,999
8%
71%
$3,000,000– $4,999,999
16%
21%
$2,000,000$2,999,999
5%
$2,000,000$2,999,999
17% $1,000,000– 72 Active Listings $1,999,999 $1,460,797 Average Price
$1,000,000– 27 Sold Listings $1,999,999 $1,407,629 Average Price
$2,000,000– 25 Active Listings $2,999,999 $2,549,880 Average Price
$2,000,000– 2 Sold Listings $2,999,999 $2,250,000 Average Price
$3,000,000– 32 Active Listings $4,999,999 $3,954,734 Average Price
$3,000,000– 6 Sold Listings $4,999,999 $3,762,916 Average Price
188 Average Days On Market
171 Average Days On Market
302 Average Days On Market
$5,000,000 22 Active Listings and higher $7,816,363 Average Price
272 Average Days On Market
178 Average Days On Market
108 Average Days On Market
202 Average Days On Market
$5,000,000 3 Sold Listings and higher $11,450,000 Average Price
108 Average Days On Market
Significant Dickson Sales in 2016
SOLD $1,200,000
Seller Representation by Dickson Realty
SOLD $1,510,000
Buyer Representation by Dickson Realty
SOLD $1,205,000
Seller Representation by Dickson Realty
SOLD $1,100,000
Buyer Representation by Dickson Realty
SOLD $1,125,000
Buyer Representation by Dickson Realty
Tahoe Donner
Tahoe City
Tahoe Donner
Tahoe City
Tahoe Donner
SOLD $1,160,000
Buyer Representation by Dickson Realty
SOLD $1,680,000
Buyer Representation by Dickson Realty
SOLD $1,740,000
Buyer Representation by Dickson Realty
SOLD $1,849,500
Buyer Representation by Dickson Realty
SOLD $1,195,000
Seller Representation by Dickson Realty
Alpine Meadows
Truckee River
Donner Lake
Lahontan
Tahoe Donner
Significant Dickson Sales in 2016
SOLD $1,700,000
Buyer Representation by Dickson Realty
SOLD $1,050,000
Seller Representation by Dickson Realty
Lahontan
Tahoe Donner
SOLD $1,225,000
Buyer and Seller Representation by Dickson Realty Tahoe Donner
SOLD $1,242,662
Buyer Representation by Dickson Realty
Tahoe Donner
SOLD $1,300,000
Buyer Representation by Dickson Realty
SOLD $1,410,000
Buyer Representation by Dickson Realty
SOLD $1,025,000
Buyer Representation by Dickson Realty
SOLD $1,900,000
Seller Representation by Dickson Realty
Tahoe Donner
Gray’s Crossing
Tahoe Donner
Lahontan
Current Dickson Luxury Listings
$1,549,000
11608 China Camp
$1,100,000
14835 Northwoods Blvd
$1,995,000
70858 Highway 70
MLS# 20170220
MLS# 20162174
MLS# 20160200
$1,230,000
11638 Henness Road
$1,420,000
11042 Sitzmark Way
$2,600,000
15016 South Shore Drive
MLS# 20170428
MLS# 20170412
MLS# 20161023
*PHOTO IS OF MODEL HOME
$1,900,000 12929 Filly Lane
MLS# 20162244
$2,400,000
7480 Lahontan Drive
MLS# 20170189
Old Greenwood
January-March 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
$1,375,000
$1,350,000
Average Days on Market vs. Units Sold 2017
43 DAYS ON MARKET
2016
3 UNITS SOLD
Gray’s Crossing
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price 2017
2016
AVERAGE $
AVERAGE PRICE
15%
$1,479,400 $1,286,000
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
27%
$1,550,000 $1,218,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-70%
FROM LAST YEAR
UNITS SOLD
67%
FROM LAST YEAR
72
244
DAYS ON MARKET
5 UNITS SOLD
3
Lahontan
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
AVERAGE $
$1,961,428
MEDIAN $
2017
$1,600,000
2016
Average Days on Market vs. Units Sold 2017
2016
7
236 DAYS ON MARKET
UNITS SOLD
Martis Camp
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$3,864,642
-20%
$4,837,200
FROM LAST YEAR
MEDIAN PRICE
$3,652,500
-25%
$4,900,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
20%
FROM LAST YEAR
UNITS SOLD
-30% FROM LAST YEAR
200
166
DAYS ON MARKET
7 UNITS SOLD
10
Northstar
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,539,166
-42%
$2,635,000
FROM LAST YEAR
MEDIAN PRICE
$1,457,500
-43%
$2,575,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-72%
FROM LAST YEAR
UNITS SOLD
50%
FROM LAST YEAR
119
424
DAYS ON MARKET
6 UNITS SOLD
4
Squaw Valley-Alpine Meadows
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,800,000
-21%
$2,283,333
FROM LAST YEAR
MEDIAN PRICE
$1,800,000
0%
$1,800,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
1,481% FROM LAST YEAR
UNITS SOLD
-67%
FROM LAST YEAR
1,881
119
DAYS ON MARKET
3
1 UNITS SOLD
Lake Tahoe – North Shore
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,660,000
2%
$1,619,583
FROM LAST YEAR
MEDIAN PRICE
$1,140,000
-9%
$1,257,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
3%
FROM LAST YEAR
UNITS SOLD
-33%
FROM LAST YEAR
105
102
DAYS ON MARKET
4 UNITS SOLD
6
Lake Tahoe – West Shore
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$6,663,000
52%
$4,373,250
FROM LAST YEAR
MEDIAN PRICE
$1,890,000
-60%
$4,695,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
8%
FROM LAST YEAR
UNITS SOLD
25%
FROM LAST YEAR
134
124
DAYS ON MARKET
5 UNITS SOLD
4
Tahoe Donner
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,240,000
14%
$1,090,750
FROM LAST YEAR
MEDIAN PRICE
$1,185,000
15%
$1,032,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-10%
FROM LAST YEAR
UNITS SOLD
-75%
FROM LAST YEAR
79
88
DAYS ON MARKET
3 UNITS SOLD
12
DOWNTOWN RENO 775.324.7000
TRUCKEE 530.587.7444
GRAEAGLE 530.836.1700
DONNER LAKE 530.587.4811
CAUGHLIN RANCH 775.746.7000
DAMONTE RANCH 775.850.7000
SOMERSETT 775.746.7222
MONTRÊUX 775.849.9444
DicksonLuxury.com | luxury@dicksonrealty.com
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