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.
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