Truckee/Tahoe Luxury Trends Newsletter - 1st Quarter 2017

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

© 2017 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.

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