Truckee/Tahoe Luxury Trends Year-End Review 2020

Luxury Trends Year-End 2020 Tahoe/Truckee Market Report

IN ESCROW IN ONE WEEK! $40,000 over asking price

15016 South Shore Drive $2,765,000 Donner Lake DicksonLuxury.com

WELCOME TO OUR 4TH QUARTER 2020 LUXURY HOME MARKET REPORT

COVER PROPERTY FEATURED

15016 SOUTH SHORE DRIVE DONNER LAKE $2,765,000 MLS# 20210123

Dickson Realty is pleased to present the 2020 Annual Luxury Home Market Report, again highlighting the news and trends of the luxury home sales in the region.

Unprecedented was the buzz word for this past year. A total of 682 properties sold in 2020 at sales prices of $1 million and above, over twice the number that sold in 2019, when 335 transacted. Total sales volume for this luxury home market totaled over $1.5 billion in 2020 in our region.

Median prices were up to $1,650,000, just 3% higher than 2019, whereas average sold prices were at $2,220,927, a little over a 2% decrease. The average days on market declined to 74 days (from listing date to an accepted offer), which was a 30% decrease from 2019.

Inventory remains low for luxury homes, with just 102 homes available as of the beginning of 2021, less than 2 months of inventory based on this past year, and there are currently 95 sales pending. Demand remains high; buyers continue to enter the market, hoping to make this their new home in our healthy, lower density mountain environment with the lifestyle it offers. Some are moving here on a primary basis; others are extending their second home stays beyond the typical Friday – Sunday pattern.

Our team of Dickson Realty Luxury Specialists are here, as always, to provide you with competent expertise in this market area. We will work hard for you to achieve the most positive outcome whether you are buying or selling.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January - december 2020 compared to January - december 2019

+104%

-2.3%

+3%

-30%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2020: 682 2019: 335

2020: $2,220,927 2019: $2,273,047

2020: $689 2019: $669

2020: 74 2019: 105

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of January 10, 2021

Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

Alpine Meadows NUMBER OF SALES

448 $2,296,959 $11,000,000

AVERAGE SALES $ HIGHEST SALE $

North Shore, Lake Tahoe, CA NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

7%

$1,575,181

AVERAGE SALES $

$2,998,000

AVERAGE SALES $

$9,500,000

HIGHEST SALE $

$4,600,000

80 $2,421,122 $8,750,000

$5,000,000 and higher

20%

65%

10%

$1,655,652

Active Listings Over $1 Million

$1,000,000– $1,999,999

$3,000,000– $4,999,999

HIGHEST SALE $

44

West Shore, Lake Tahoe, CA NUMBER OF SALES

Sold Listings Over $1 Million $5,000,000 and higher

NUMBER OF SALES

11

99 $2,038,070

Squaw Valley

$1,000,000– $1,999,999

47%

$3,000,000– $4,999,999

14%

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

17%

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

20% $1,000,000– 444 Sold Listings $1,999,999 $1,391,903 Average Price

$1,000,000– 48 Active Listings $1,999,999 $1,505,318 Average Price

$2,000,000– 117 Sold Listings $2,999,999 $2,429,681 Average Price

$2,000,000– 20 Active Listings $2,999,999 $2,569,100 Average Price

$3,000,000– 71 Sold Listings $4,999,999 $3,761,486 Average Price

$3,000,000– 14 Active Listings $4,999,999 $3,774,785 Average Price

62 Average Days On Market

77Average Days On Market

123 Average Days On Market

$5,000,000 50 Sold Listings and higher $6,906,585 Average Price

97 Average Days On Market

85 Average Days On Market

123 Average Days On Market

151 Average Days On Market

$5,000,000 20 Active Listings and higher $14,213,000 Average Price

80 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of January 10, 2021

Recent Dickson Sales

SOLD $6,410,000

Buyer Representation by Dickson Realty

SOLD $3,295,000

Seller Representation by Dickson Realty

SOLD $2,650,000

Buyer Representation by Dickson Realty

SOLD $2,600,000

Buyer Representation by Dickson Realty

Martis Camp

Schaffers Mill

Lahontan

Northstar

SOLD $3,333,500

Buyer Representation by Dickson Realty

SOLD $3,200,000

Buyer Representation by Dickson Realty

SOLD $2,625,000

Buyer Representation by Dickson Realty

SOLD $2,600,000

Seller Representation by Dickson Realty

Donner Lake

Northstar

Schaffers Mill

Tahoe Donner

Recent Dickson Sales

SOLD $2,425,000

Seller Representation by Dickson Realty

SOLD $2,000,000

Seller Representation by Dickson Realty

SOLD $1,675,000

Seller Representation by Dickson Realty

SOLD $1,650,000

Buyer Representation by Dickson Realty

Northstar

Truckee River

Tahoe Donner

Alpine Meadows

SOLD $2,200,000

Seller Representation by Dickson Realty

SOLD $1,730,000

Buyer Representation by Dickson Realty

SOLD $1,675,000

Seller Representation by Dickson Realty

SOLD $1,585,000

Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Northstar

Tahoe Donner

Recent Dickson Sales

SOLD $1,550,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,475,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,385,000

Seller Representation by Dickson Realty

SOLD $1,325,000

Buyer Representation by Dickson Realty

Tahoe Donner

Schaffers Mill

Northstar

Tahoe Donner

SOLD $1,500,000

Seller Representation by Dickson Realty

SOLD $1,415,000

Seller Representation by Dickson Realty

SOLD $1,350,000

Buyer Representation by Dickson Realty

SOLD $1,300,000

Buyer & Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Northstar

Northstar

Recent Dickson Sales

SOLD $1,275,000

Seller Representation by Dickson Realty

SOLD $1,250,000

Seller Representation by Dickson Realty

SOLD $1,200,000

Seller Representation by Dickson Realty

SOLD $1,198,000

Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Tahoe Donner

Juniper Hills

SOLD $1,270,000

Seller Representation by Dickson Realty

SOLD $1,225,000

Seller Representation by Dickson Realty

SOLD $1,200,000

Seller Representation by Dickson Realty

SOLD $1,185,000

Seller Representation by Dickson Realty

Martiswoods Estates

Tahoe Donner

Tahoe City

Donner Lake

Recent Dickson Sales

SOLD $1,185,000

Buyer Representation by Dickson Realty

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

Grays Crossing

Tahoe Donner

Cambridge Estates

Tahoe Donner

SOLD $1,182,500

Buyer Representation by Dickson Realty

SOLD $1,175,000

Buyer Representation by Dickson Realty

SOLD $1,130000

Buyer Representation by Dickson Realty

SOLD $1,100,000

Buyer & Seller Representation by Dickson Realty

Brockway Springs

Tahoe Donner

Donner Lake

Tahoe Donner

Recent Dickson Sales

SOLD $1,100,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,085,000

Seller Representation by Dickson Realty

SOLD $1,049,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,010,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

Tahoe Donner

SOLD $1,094,500

Buyer Representation by Dickson Realty

SOLD $1,075,000

Seller Representation by Dickson Realty

SOLD $1,025,000

Seller Representation by Dickson Realty

SOLD $1,005,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Northstar

Sierra Meadows

Current Luxury Listings

$2,765,000

15016 South Shore Drive MLS# 20210123

Donner Lake

In Escrow

$1,825,000

17031 Austin Way, MLS# 20202285

$1,995,000 10041 Church St

Downtown Truckee

In Escrow

Juniper Creek Ranch

$1,195,000

1020 Salisbury Lane, MLS# 20203709

Call us for potential new listings.

They may be sold by the time you receive this.

Kings Beach

Old Greenwood

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,637,845

-5%

$1,724,462

FROM LAST YEAR

MEDIAN PRICE

$1,721,270

+2%

$1,688,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-33%

FROM LAST YEAR

UNITS SOLD

0%

FROM LAST YEAR

50

75

DAYS ON MARKET

11 UNITS SOLD

11

Gray’s Crossing

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,737,490

+12.6%

$1,542,666

FROM LAST YEAR

MEDIAN PRICE

$1,695,000

+5.9%

$1,600,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-24%

FROM LAST YEAR

UNITS SOLD

+79%

FROM LAST YEAR

65

85

DAYS ON MARKET

43

24

UNITS SOLD

Lahontan

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price AVERAGE $

2020 2018 2019

AVERAGE PRICE

+5.3%

$2,823,214 $2,681,309

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+0.5%

$2,825,000 $2,810,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-36%

FROM LAST YEAR

UNITS SOLD

+67%

FROM LAST YEAR

72

113

DAYS ON MARKET

35 UNITS SOLD

21

Schaffer’s Mill

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price AVERAGE $

2020 2018 2019

AVERAGE PRICE

+29%

$2,014,788 $1,561,791

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+10.7%

$1,725,000 $1,558,250

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-37%

FROM LAST YEAR

UNITS SOLD

+233% FROM LAST YEAR

76

121

DAYS ON MARKET

40 UNITS SOLD

12

Martis Camp

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$5,626,713

+4.3%

$5,394,610

FROM LAST YEAR

MEDIAN PRICE

$5,250,000

+2.9%

$5,100.000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-25%

FROM LAST YEAR

UNITS SOLD

+88% FROM LAST YEAR

114

151

DAYS ON MARKET

60

32

UNITS SOLD

Northstar

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,885,327

+4.1%

$1,810,871

FROM LAST YEAR

MEDIAN PRICE

$1,712,500

+3.6%

$1,652,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-45%

FROM LAST YEAR

UNITS SOLD

+157% FROM LAST YEAR

92

167

DAYS ON MARKET

72

28

UNITS SOLD

Squaw Valley-Alpine Meadows

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,639,558

+0.3%

$1,634,583

FROM LAST YEAR

MEDIAN PRICE

$1,530,000

+8.3%

$1,412,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

+5%

FROM LAST YEAR

UNITS SOLD

+83%

FROM LAST YEAR

141

134

DAYS ON MARKET

55

30

UNITS SOLD

Lake Tahoe – North Shore

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$2,038,070

+10%

$1,852,683

FROM LAST YEAR

MEDIAN PRICE

$1,475,000

+1.7%

$1,450,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-53%

FROM LAST YEAR

UNITS SOLD

+136% FROM LAST YEAR

59

125

DAYS ON MARKET

99

42

UNITS SOLD

Lake Tahoe – West Shore

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$2,421,122

-28.7%

$3,393,341

FROM LAST YEAR

MEDIAN PRICE

$1,750,000

+7%

$1,635,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-10%

FROM LAST YEAR

UNITS SOLD

+86%

FROM LAST YEAR

76

84

DAYS ON MARKET

80

43

UNITS SOLD

Tahoe Donner

January-December 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,345,290

+1.9%

$1,320,298

FROM LAST YEAR

MEDIAN PRICE

$1,240,000

+0.5%

$1,233,334

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-41%

FROM LAST YEAR

UNITS SOLD

+118% FROM LAST YEAR

30

51

DAYS ON MARKET

98

45

UNITS SOLD

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

C U R AT E D

SUBSCRIPTIONS TO

LIVEN

1 Norlii Home

While globetrotting, bar hopping and various forms of entertainment are on hold, it doesn’t mean time at home has to be dull. Subscription boxes are becoming increasingly innovative, offering unique experiences for every need, whether it’s prioritizing wellness and beauty, learning a new craft, discovering culturally rich products or enhancing your overall living space. These subscription boxes are fresh

1

Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog

Based in Copenhagen, Denmark, Norlii is a thoughtfully curated home décor box featuring 4–5 hand-picked and high-quality objects solely from Scandinavian brands. Norlii’s Scandinavian interior design principle incorporates three main components — natural materials, clean design and hygge. Hygge is a Danish/ Norwegian word that translates to coziness and comfort, meant to bring about feelings of wellness and contentment, each mood of which is prioritized within the region due to the cold climate. Whether you’re located in a cold climate or not, these Scandinavian design ideals are particularly reassuring in current times as home has become more central to our lives than ever before. norlii.com

2 Ujamaa Box

2

Since 2014, Ujamaa Box, sent on a quarterly basis, has featured 300+ international, exclusively Black-owned brands from varying industries that include fashion, art, health, food and beauty. The name “Ujamaa” is a Kwanzaa principle that translates to “cooperative economics,” which is the belief that for all to prosper, we must build and maintain our businesses together.

This idea is clearly mirrored in the service, as a single purchase results in the support of multiple cooperating businesses at one time, all while exposing subscribers to various favorites that may have been otherwise difficult to find. ujamaabox.com

3

3 Crafted Taste

Revel in the art of bartending with the globally inspired cocktail kits from Crafted Taste.

Every kit includes full-sized, award-winning spirits, allowing subscribers to really hone their bartending skills, master the recipes, share with friends and stock up their home bars. Along with the alcohol, the kits include hard-to-find and premium ingredients, syrups and bitters, plus a printed card with instructions and additional cocktail ideas.

They even offer a premium version of their full kit, which includes a monthly upgrade or additional hand-selected spirit, as well as a mixers-only version. For those not ready to commit, kits can be purchased individually or gifted. craftedtaste.com

4

Murray’s Monthly Club A long-established company, Murray’s Cheese, was founded in 1940 in New York City, New York and very much a part of the rich food history in Greenwich Village, has made its legendary cheeses available worldwide. Murray’s Monthly Club consists of five memberships to choose from — Classic Cheese of the Month for timeless and approachable favorites, Cheesemonger’s Picks for the “adventurous cheese lover,” American Cheeses, featuring cheeses specific to the U.S., Perfect Pair of the Month, which includes accompaniments to its selection of cheeses, and Cheeseboard of the Month, a “one-stop shop” consisting of cheese, accompaniments and charcuterie items.

The experience of each of these boxes can be further enhanced with the website’s array of recipes, plus cutting and serving tips. murrayscheese.com

4

TRUCKEE 530.587.7444 DOWNTOWN RENO 775.324.7000

CAUGHLIN RANCH 775.746.7000

PORTOLA 530.832.1700 DAMONTE RANCH 775.850.7000

NORTHSTAR 530.562.1140 SOMERSETT 775.746.7222

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

DicksonLuxury.com | luxury@dicksonrealty.com

© 2021 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.