Dickson Realty Luxury Trends Truckee-Tahoe, 1st Quarter 2016

Luxury Trends 2016 Tahoe/Truckee Market Report

1st Quarter 2016 DicksonLuxury.com

COVER PROPERTY FEATURED:

12962 Ski View Loop, Truckee, CA 96161 $1,499,000 MLS #20160692

Welcome

TO OUR 1ST QUARTER 2016 LUXURY MARKET REPORT. Welcome to our 2016 1st quarter Luxury Market Report highlighting the news and trends of luxury home sales in our region. With a rebound in winter activity, thanks to much-needed favorable snow conditions bringing the clientele that supports our tourist economy, the year has started with a bang, with a 51% increase in luxury homes sold over $1MM during this first quarter. Of these sales, 46% were cash purchases.

We projected last year at the beginning of the year that the top end of the market might still experience price corrections as the inventory was building, which was the case for the 1st quarter where average prices were down 20% from the 1st quarter of 2015. There is currently 23% more active inventory than at the end of the first quarter last year, with 27 of those offerings in the prestigious community of Martis Camp.

We hope you find the information useful in planning your next real estate sale or purchase. Our team of Dickson Realty Luxury Specialists are here, as always, to provide you with an extraordinary experience.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million 1st Quarter 2016 vs. 2015

+51%

-20%

-9%

-23%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2016: 56 2015: 37

2016: $2,316,469 2015: $2,908,918

2016: $630 2015: $695

2016: 179 2015: 231

Luxury Home Sales over $1 Million Truckee

Alpine Meadows

Squaw Valley

NUMBER OF SALES

42

NUMBER OF SALES

1

NUMBER OF SALES

2

AVERAGE SALES $

$2,243,071

AVERAGE SALES $

$1,160,000

AVERAGE SALES $

$2,845,000

HIGHEST SALE $

$7,181,000

HIGHEST SALE $

$1,160,000

HIGHEST SALE $

$3,890,000

North Shore, Lake Tahoe, CA

West Shore, Lake Tahoe, CA

NUMBER OF SALES

6

NUMBER OF SALES

4

AVERAGE SALES $

$1,619,583

AVERAGE SALES $

$4,373,250

HIGHEST SALE $

$7,103,000

HIGHEST SALE $

$2,958,500

Active Listings Over $1 Million

Sold Listings Over $1 Million

$1,000,000– $1,999,999

$5,000,000 and higher

51%

$5,000,000 and higher

$1,000,000– $1,999,999

63%

10%

10% $3,000,000– $4,999,999

18% $3,000,000– $4,999,999

19%

$2,000,000$2,999,999

20%

$2,000,000$2,999,999

9%

$1,000,000– 111 Active Listings $1,999,999 $1,485,803 Average Price

$1,000,000– 35 Sold Listings $1,999,999 $1,251,823 Average Price

$2,000,000– 45 Active Listings $2,999,999 $2,485,930 Average Price

$2,000,000– 5 Sold Listings $2,999,999 $2,390,700 Average Price

$3,000,000– 41 Active Listings $4,999,999 $4,026,195 Average Price

$3,000,000– 10 Sold Listings $4,999,999 $3,628,600 Average Price

$5,000,000 21 Active Listings and higher $7,363,047 Average Price

$5,000,000 6 Sold Listings and higher $6,278,166 Average Price

192 Average Days On Market

280 Average Days On Market

262 Average Days On Market

237 Average Days On Market

175 Average Days On Market

202 Average Days On Market

224 Average Days On Market

112 Average Days On Market

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, as of April 7, 2016.

Significant Dickson Sales in 2015

SOLD $2,350,000

Seller Representation by Dickson Realty

SOLD $1,400,000

Seller Representation by Dickson Realty

SOLD $1,160,000

Seller Representation by Dickson Realty

Lahontan

Pine Forest

Tahoe Donner

SOLD $1,663,680

Seller Representation by Dickson Realty

SOLD $1,200,000

Seller Representation by Dickson Realty

SOLD $1,125,000

Seller Representation by Dickson Realty

Donner Lake

Donner Lake

Chinquapin

Old Greenwood

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$0

N/A

$1,640,000

FROM LAST YEAR

MEDIAN PRICE

N/A

$0 $1,640,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

N/A

FROM LAST YEAR

UNITS SOLD

N/A

FROM LAST YEAR

603 DAYS ON MARKET

0 UNITS SOLD

1

Gray’s Crossing

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$1,286,000

N/A

$0

FROM LAST YEAR

MEDIAN PRICE

$1,218,000

N/A

$0

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

N/A FROM LAST YEAR

UNITS SOLD

N/A FROM LAST YEAR

244

0

DAYS ON MARKET

3 UNITS SOLD

0

Lahontan

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$1,961,428

-9%

$2,158,883

FROM LAST YEAR

MEDIAN PRICE

$1,600,000

-30%

$2,295,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

105% FROM LAST YEAR

UNITS SOLD

17%

FROM LAST YEAR

236

115

DAYS ON MARKET

7 UNITS SOLD

6

Martis Camp

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$4,835,777

-1%

$4,892,857

FROM LAST YEAR

MEDIAN PRICE

$4,951,000

2%

$4,850,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

-45%

FROM LAST YEAR

UNITS SOLD

+29%

FROM LAST YEAR

171

311

DAYS ON MARKET

9 UNITS SOLD

7

Northstar

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$2,112,857

26%

$1,675,000

FROM LAST YEAR

MEDIAN PRICE

$1,900,000

13%

$1,675,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

84%

FROM LAST YEAR

UNITS SOLD

250% FROM LAST YEAR

319

173

DAYS ON MARKET

7 UNITS SOLD

2

Squaw Valley-Alpine Meadows

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$2,283,333

43%

$1,593,333

FROM LAST YEAR

MEDIAN PRICE

$1,800,000

3%

$1,750,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

11%

FROM LAST YEAR

UNITS SOLD

NO CHANGE FROM LAST YEAR

119

107

DAYS ON MARKET

3 UNITS SOLD

3

Lake Tahoe – North Shore

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$1,619,583

-48%

$3,090,200

FROM LAST YEAR

MEDIAN PRICE

$1,257,000

-60%

$3,150,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

-47%

FROM LAST YEAR

UNITS SOLD

20%

FROM LAST YEAR

102

191

DAYS ON MARKET

6

5 UNITS SOLD

Lake Tahoe – West Shore

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$4,373,250

23%

$3,558,875

FROM LAST YEAR

MEDIAN PRICE

$4,695,000

191%

$1,612,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

-63%

FROM LAST YEAR

UNITS SOLD

-50% FROM LAST YEAR

124

341

DAYS ON MARKET

4 UNITS SOLD

8

Tahoe Donner

1st Quarter 2015 vs. 2016 Average vs. Median Price Average vs. Median Price

MEDIAN $

AVERAGE $

2016

2015

AVERAGE PRICE

$1,090,750

-28%

$1,525,000

FROM LAST YEAR

MEDIAN PRICE

$1,032,000

-32%

$1,525,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2016

2015

DAYS ON MARKET

-53%

FROM LAST YEAR

UNITS SOLD

500% FROM LAST YEAR

88

186

DAYS ON MARKET

12 UNITS SOLD

2

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

© 2015 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.

SPARKS 775.685.8800