Luxury Trends 1st Quarter 2021 Tahoe/Truckee Market Report
IN ESCROW IN ONE WEEK! $40,000 over asking price
13878 Pathway Ave $2,250,000 Tahoe Donner COMING SOON
DicksonLuxury.com
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WELCOME TO OUR 1ST QUARTER 2021
13878 PATHWAY AVE TAHOE DONNER $2,250,000
LUXURY HOME MARKET REPORT
COMING SOON
We hope our Luxury Trends report finds you and your family safe and healthy as we end this first quarter of a new year, after a year of tremendous challenges. It is remarkable how the housing market turned out in the Truckee/Tahoe region. We would never have predicted these results back on March 20, 2020, as our communities were affected by the Coronavirus and our schools and many of our businesses shut down for much of the year, and our own business closed our office doors, for the next two and a half months. Luckily, our business allows us to transact our business remotely, and we have continued to adhere to the safety protocols set forth by all the governing agencies. There are several observations about the results. First, our Luxury Market has been redefined. As the number of people leaving more populated areas of California increased, those number of people (demand) compared to the amount of inventory (supply) drove prices up, increasing the number of properties priced and sold at $1,000,000 and above. In the first quarter of 2021, those comprised 150 sales as compared to only 64 last year in Q1, an increase of 134%. Even with the higher prices, we were surprised (and continue to be) by the thousands of dollars over list price most properties sold for. Luxury Homes market times were approx. 60 days, a decrease from 141 average days on market in Q1 2020. Before you ask, we do not believe our luxury market will crash, and we will go so far as to predict pricing will not be reduced anytime in the near future. There are several reasons for this; first, interest rates are at historic lows and while they may increase a bit in 2021, it will be minor; second, the migration of luxury buyers are typically coming from more expensive areas, so our prices still compare favorably. Lastly, the number of employees that can work remotely from anywhere are finding the wide-open spaces and recreational opportunities in our area to be very attractive. Enjoy seeing the results of sales in the Truckee/Tahoe region and if we can help interpret or offer additional insights, please contact one of our outstanding and knowledgeable agents who specialize in the luxury market. Stay safe and healthy and we look forward to the time we can gather and celebrate life in person with you.
—Broker/Manager, Dickson Realty Truckee
Luxury Home Averages Over $1 Million January - march 2021 compared to January - march 2020
+134% +17.5%
+25%
-57%
TOTAL UNITS SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2021: 150 2020: 64
2021: $2,667,143 2020: $2,270,485
2021: $870 2020: $697
2021: 61 2020: 141
Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 5, 2021
Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
Alpine Meadows NUMBER OF SALES
95 $2,796,022 $12,795,000
AVERAGE SALES $ HIGHEST SALE $
NUMBER OF SALES
1
AVERAGE SALES $
$1,325,000
AVERAGE SALES $
HIGHEST SALE $
$1,325,000
HIGHEST SALE $
North Shore, Lake Tahoe, CA NUMBER OF SALES
NUMBER OF SALES
23 $1,811,032
AVERAGE SALES $
$5,336,250
10%
HIGHEST SALE $
$4,000,000
20 $3,463,250 $31,000,000
$5,000,000 and higher
24%
62%
11%
$2,018,699
Active Listings Over $1 Million
$1,000,000– $1,999,999
$3,000,000– $4,999,999
11
West Shore, Lake Tahoe, CA
Sold Listings Over $1 Million $5,000,000 and higher
Squaw Valley
$1,000,000– $1,999,999
28%
$3,000,000– $4,999,999
16%
$2,000,000$2,999,999
17%
$2,000,000$2,999,999
32% $1,000,000– 93 Sold Listings $1,999,999 $1,434,906 Average Price
$1,000,000– 23 Active Listings $1,999,999 $1,584,391 Average Price
$2,000,000– 26 Sold Listings $2,999,999 $2,510,153 Average Price
$2,000,000– 26 Active Listings $2,999,999 $2,195,000 Average Price
$3,000,000– 16 Sold Listings $4,999,999 $3,900,937 Average Price
$3,000,000– 13 Active Listings $4,999,999 $3,934,153 Average Price
52 Average Days On Market
76 Average Days On Market
79 Average Days On Market
$5,000,000 15 Sold Listings and higher $9,263,083 Average Price
72 Average Days On Market
71 Average Days On Market
50 Average Days On Market
13 Average Days On Market
$5,000,000 20 Active Listings and higher $12,193,450 Average Price
97 Average Days On Market
Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 5, 2021
Recent Dickson Sales
SOLD $6,410,000
Buyer Representation by Dickson Realty
SOLD $3,295,000
Seller Representation by Dickson Realty
SOLD $2,930,000
Seller Representation by Dickson Realty
SOLD $2,650,000
Buyer Representation by Dickson Realty
Martis Camp
Schaffers Mill
Donner Lake
Northstar
SOLD $3,333,500
Buyer Representation by Dickson Realty
SOLD $3,200,000
Buyer Representation by Dickson Realty
SOLD $2,650,000
Buyer Representation by Dickson Realty
SOLD $2,625,000
Buyer Representation by Dickson Realty
Donner Lake
Northstar
Lahontan
Schaffers Mill
Recent Dickson Sales
SOLD $2,600,000
Buyer Representation by Dickson Realty
SOLD $2,425,000
Seller Representation by Dickson Realty
SOLD $2,000,000
Seller Representation by Dickson Realty
SOLD $1,730,000
Buyer Representation by Dickson Realty
Northstar
Northstar
Truckee River
Tahoe Donner
SOLD $2,600,000
Seller Representation by Dickson Realty
SOLD $2,200,000
Seller Representation by Dickson Realty
SOLD $1,758,000
Seller Representation by Dickson Realty
SOLD $1,700,000
Buyer Representation by Dickson Realty
Tahoe Donner
Northstar
Juniper Creek Ranch
Martiswoods Estates
Recent Dickson Sales
SOLD $1,675,000
Seller Representation by Dickson Realty
SOLD $1,585,000
Seller Representation by Dickson Realty
SOLD $1,500,000
Seller Representation by Dickson Realty
SOLD $1,430,000
Seller Representation by Dickson Realty
Tahoe Donner
Tahoe Donner
Northstar
Tahoe Donner
SOLD $1,675,000
Seller Representation by Dickson Realty
SOLD $1,550,000
Buyer & Seller Representation by Dickson Realty
SOLD $1,475,000
Buyer & Seller Representation by Dickson Realty
SOLD $1,415,000
Seller Representation by Dickson Realty
Northstar
Tahoe Donner
Schaffers Mill
Tahoe Donner
Recent Dickson Sales
SOLD $1,385,000
Northstar
Seller Representation by Dickson Realty
SOLD $1,350,000
Tahoe Donner
Buyer Representation by Dickson Realty
SOLD $1,300,000
Buyer & Seller Representation by Dickson Realty
SOLD $1,270,000
Seller Representation by Dickson Realty
Northstar
Martiswoods Estates
SOLD $1,350,000
Buyer Representation by Dickson Realty
SOLD $1,325,000
BuyerRepresentation by Dickson Realty
SOLD $1,275,000
Seller Representation by Dickson Realty
SOLD $1,250,000
Seller Representation by Dickson Realty
Northstar
Tahoe Donner
Northstar
Tahoe Donner
Recent Dickson Sales
SOLD $1,235,000
Seller Representation by Dickson Realty
SOLD $1,200,000
Seller Representation by Dickson Realty
SOLD $1,185,000
Buyer Representation by Dickson Realty
SOLD $1,182,500
Buyer Representation by Dickson Realty
Kingswood Estates
Tahoe Donner
Grays Crossing
Brockway Springs
SOLD $1,225,000
Seller Representation by Dickson Realty
SOLD $1,198,000
Seller Representation by Dickson Realty
SOLD $1,185,000
Seller Representation by Dickson Realty
SOLD $1,175,000
Buyer Representation by Dickson Realty
Tahoe Donner
Juniper Hills
Donner Lake
Tahoe Donner
Recent Dickson Sales
SOLD $1,175,000
Seller Representation by Dickson Realty
SOLD $1,150,000
Seller Representation by Dickson Realty
SOLD $1,125,000
Seller Representation by Dickson Realty
SOLD $1,100,000
Buyer Representation by Dickson Realty
Tahoe Donner
Cambridge Estates
Tahoe Donner
The Meadows
SOLD $1,150,000
Buyer & Seller Representation by Dickson Realty
SOLD $1,130,000
Buyer Representation by Dickson Realty
SOLD $1,115,000
Seller Representation by Dickson Realty
SOLD $1,100,000
Buyer & Seller Representation by Dickson Realty
Tahoe Donner
Donner Lake
Tahoe Donner
Tahoe Donner
Recent Dickson Sales
SOLD $1,094,500
Buyer Representation by Dickson Realty
SOLD $1,075,000
Seller Representation by Dickson Realty
SOLD $1,010,000
Buyer Representation by Dickson Realty
SOLD $1,005,000
Seller Representation by Dickson Realty
Tahoe Donner
Tahoe Donner
Tahoe Donner
Sierra Meadows
SOLD $1,085,000
Tahoe Donner
Buyer Representation by Dickson Realty
SOLD $1,049,000
Buyer & Seller Representation by Dickson Realty
SOLD $1,005,000
Buyer Representation by Dickson Realty
SOLD $1,000,000
Buyer Representation by Dickson Realty
Tahoe Donner
Prosser Lake Heights
Tahoe Donner
Current Luxury Listings Coming Soon
$2,250,000
13878 Pathway Ave
In Escrow
Tahoe Donner
$2,200,000
11644 China Camp MLS# 20210841
Grays Crossing
In Escrow
$1,995,000
10041 Church Street MLS# 20201435
Downtown Truckee
14473 Wolfgang Road MLS# 20210736
351 Skidder Trail MLS# 20210107
Northstar
In Escrow
In Escrow
$1,400,000
$1,995,000
Tahoe Donner
$1,385,000
11830 Bottcher Loop MLS# 20210146
Grays Crossing
Current Luxury Listings In Escrow
$1,385,000
12584 Prosser Dam Road MLS# 20210629
In Escrow
Prosser Lake
$1,260,000
11491 Baden Road MLS# 20210761
Tahoe Donner
In Escrow
$1,098,000
10037 SE River Street MLS# 20210729
Downtown Truckee
940 Ward Creek Blvd MLS# 20210781
13848 Copenhagen Drive MLS# 20210628
Tahoe Donner
In Escrow
In Escrow
$1,050,000
$1,050,000
Pineland
$1,050,000
12849 Peregrine Drive MLS# 20210812
Tahoe Donner
Old Greenwood
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$2,172,500
+42.5%
$1,525,000
FROM LAST YEAR
MEDIAN PRICE
$2,172,500
+42.5%
$1,525,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-98%
FROM LAST YEAR
UNITS SOLD
0%
FROM LAST YEAR
3
136
DAYS ON MARKET
2 UNITS SOLD
2
Gray’s Crossing
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$2,002,933
+51.5%
$1,322,500
FROM LAST YEAR
MEDIAN PRICE
$1,988,800
+50.7%
$1,320,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-69%
FROM LAST YEAR
UNITS SOLD
-25%
FROM LAST YEAR
39
126
DAYS ON MARKET
3
UNITS SOLD
4
Lahontan
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price AVERAGE $
2021 2018 2020
AVERAGE PRICE
+30.6%
$3,288,333 $2,518,750
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
+23%
$3,152,500 $2,562,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-39%
FROM LAST YEAR
UNITS SOLD
+50% FROM LAST YEAR
54
89
DAYS ON MARKET
6 UNITS SOLD
4
Schaffer’s Mill
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price AVERAGE $
2021 2018 2020
AVERAGE PRICE
+21.2%
$1,927,083 $1,590,000
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
+17.8%
$1,866,750 $1,585,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-1133% FROM LAST YEAR
UNITS SOLD
+100% FROM LAST YEAR
37
3
DAYS ON MARKET
6 UNITS SOLD
3
Martis Camp
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$6,758,333
+45.1%
$4,657,705
FROM LAST YEAR
MEDIAN PRICE
$5,612,500
+34.2%
$4,181,025
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-77%
FROM LAST YEAR
UNITS SOLD
+80% FROM LAST YEAR
53
226
DAYS ON MARKET
18
10
UNITS SOLD
Northstar
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$2,335,221
+60.7%
$1,453,000
FROM LAST YEAR
MEDIAN PRICE
$1,964,169
+30.9%
$1,500,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-17%
FROM LAST YEAR
UNITS SOLD
+78%
FROM LAST YEAR
109
131
DAYS ON MARKET
16 UNITS SOLD
9
Squaw Valley-Alpine Meadows
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$1,960,890
+11%
$1,766,250
FROM LAST YEAR
MEDIAN PRICE
$1,747,000
-11.5%
$1,975,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-48%
FROM LAST YEAR
UNITS SOLD
+50%
FROM LAST YEAR
104
200
DAYS ON MARKET
12 UNITS SOLD
8
Lake Tahoe – North Shore
January-March 2021 vs. 2020Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$1,811,032
-39.6%
$2,996,833
FROM LAST YEAR
MEDIAN PRICE
$1,620,000
-14.7%
$1,900,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-47%
FROM LAST YEAR
UNITS SOLD
+283% FROM LAST YEAR
55
104
DAYS ON MARKET
23 UNITS SOLD
6
Lake Tahoe – West Shore
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$3,463,250
+46.9%
$2,357,285
FROM LAST YEAR
MEDIAN PRICE
$1,672,500
+9.7%
$1,525,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
+5%
FROM LAST YEAR
UNITS SOLD
+186% FROM LAST YEAR
84
80
DAYS ON MARKET
20 UNITS SOLD
7
Tahoe Donner
January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2021
2020
AVERAGE PRICE
$1,302,802
+9.3%
$1,191,666
FROM LAST YEAR
MEDIAN PRICE
$1,287,500
+12%
$1,150,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2021
2020
DAYS ON MARKET
-85%
FROM LAST YEAR
UNITS SOLD
+267% FROM LAST YEAR
18
123
DAYS ON MARKET
22 UNITS SOLD
6
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
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