Truckee/Tahoe Luxury Trends Newsletter - Mid-Year 2017

Luxury Trends Mid-Year 2017 Tahoe/Truckee Market Report

DicksonLuxury.com

COVER PROPERTY FEATURED:

14732 TYROL ROAD $1,450,000 MLS# 20171053

Welcome TO OUR MID-YEAR 2017 LUXURY MARKET REPORT. Summer has arrived, with comfortably warm temperatures, and snow-capped mountains still grace our landscape.

What a winter!

The number of luxury homes sold during the first six months of 2017 was down by 22% from the same period in 2016, and average sales prices remained almost the same. The majority of sales (70%) were still in the $1MM to $2MM range.

The North and West Shores of Lake Tahoe accounted for 24 of the 90 sales, 5 more in in Squaw Valley/Alpine Meadows, and the remaining 61 were in Truckee. Active inventory, as compared to 2016, is down by over 17%, which obviously also affects sales.

Although interest rates are rising, as has already occurred this year, there are still favorable loan programs for jumbo loans. This obviously only affects the 50% or so buyers who aren’t paying cash as past experience has shown. We anticipate sales for the remainder of the year to be robust, as buyers have been waiting for “the perfect home” to come on the market.

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 January-June 2017 vs. 2016

-22%

N/C

-1%

-15%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2017: 91 2016: 117

2017: $2,345,510 2016: $2,341,944

2017: $636 2016: $640

2017: 143 2016: 169

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, April 1 - June 30, 2017 as of July 6, 2017.

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

61 $2,165,680 $6,800,000

Alpine Meadows NUMBER OF SALES

AVERAGE SALES $ HIGHEST SALE $

NUMBER OF SALES

AVERAGE SALES $

$1,388,000

AVERAGE SALES $

HIGHEST SALE $

$1,388,000

HIGHEST SALE $

North Shore, Lake Tahoe, CA NUMBER OF SALES

1

12

NUMBER OF SALES

$1,790,333

AVERAGE SALES $

$5,725,000

10%

HIGHEST SALE $

$3,000,000– $4,999,999

$1,462,500 $1,800,000

12 $4,282,333 $15,000,000

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

$1,000,000– $1,999,999

54%

4

West Shore, Lake Tahoe, CA

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

Squaw Valley

10%

$1,000,000– $1,999,999

70%

$3,000,000– $4,999,999

11%

20%

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

9% $2,000,000$2,999,999

16% $1,000,000– 126 Active Listings $1,999,999 $1,410,215 Average Price

$1,000,000– 64 Sold Listings $1,999,999 $1,374,164 Average Price

$2,000,000– 39 Active Listings $2,999,999 $2,539,102 Average Price

$2,000,000– 8 Sold Listings $2,999,999 $2,366,875 Average Price

$3,000,000– 47 Active Listings $4,999,999 $3,962,223 Average Price

$3,000,000– 10 Sold Listings $4,999,999 $3,769,000 Average Price

$5,000,000 23 Active Listings and higher $7,956,739 Average Price

$5,000,000 9 Sold Listings and higher $7,652,222 Average Price

115 Average Days On Market

152 Average Days On Market

173 Average Days On Market

270 Average Days On Market

144 Average Days On Market

82 Average Days On Market

215 Average Days On Market

111 Average Days On Market

Recent Dickson Sales

SOLD $1,990,000

Seller Representation by Dickson Realty

Northstar

SOLD $1,425,000

Buyer and Seller Representation by Dickson Realty Tahoe Donner

SOLD $1,125,000

Seller Representation by Dickson Realty

Tahoe Donner

SOLD $1,450,000

Seller Representation by Dickson Realty

SOLD $1,337,500

Seller Representation by Dickson Realty

SOLD $1,200,000

Seller Representation by Dickson Realty

Buckhorn Ridge

Tahoe Donner

Tahoe Donner

Current Dickson Luxury Listings

$4,500,000

1121 Soda Springs Road

$1,700,000

15104 Donner Pass Road

$1,479,000

11033 Meek Court

MLS# 20171464

MLS# 20171517

MLS# 20171113

$1,199,900

11638 Henness Road

$1,350,000

11042 Sitzmark Way

$2,600,000

15016 South Shore Drive

MLS# 20170428

MLS# 20170412

MLS# 20171802

*PHOTO IS OF MODEL HOME

$1,875,000 12929 Filly Lane

MLS# 20162244

$2,400,000

7480 Lahontan Drive

MLS# 20170189

Current Dickson Luxury Listings

$1,399,000

715 Joseph Marzen

$1,950,000

11394 Chalet Road

$1,300,000

10534 Actinolite Way

$1,150,000

360 North Ridge Drive

MLS# 20170812

MLS# 20170653

MLS# 20171439

MLS# 20171601

$1,175,000

13082 Skiview Loop

$1,345,000

11608 China Camp

$1,198,000 717 Conifer

$1,090,901

12831 Stockholm Way

MLS# 20171876

MLS# 20170220

MLS# 20171724

MLS# 20171381

Old Greenwood

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

$1,524,800

$1,495,000

Average Days on Market vs. Units Sold 2017

107 DAYS ON MARKET

2016

5 UNITS SOLD

Gray’s Crossing

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price 2017

2016

AVERAGE $

AVERAGE PRICE

13%

$1,422,636 $1,260,714

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

7%

$1,365,000 $1,270,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

-70%

FROM LAST YEAR

UNITS SOLD

57%

FROM LAST YEAR

69

233

DAYS ON MARKET

11 UNITS SOLD

7

Lahontan

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

AVERAGE $

2017

2016

AVERAGE PRICE

30%

$2,567,000 $1,970,454

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

34%

$2,400,000 $1,795,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

-32%

FROM LAST YEAR

UNITS SOLD

-55%

FROM LAST YEAR

140

205

DAYS ON MARKET

5 UNITS SOLD

11

Martis Camp

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$4,316,153

-8%

$4,673,500

FROM LAST YEAR

MEDIAN PRICE

$3,975,000

-5%

$4,175,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

13%

FROM LAST YEAR

UNITS SOLD

-41%

FROM LAST YEAR

171

152

DAYS ON MARKET

13 UNITS SOLD

22

Northstar

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$1,800,400

-24%

$2,359,444

FROM LAST YEAR

MEDIAN PRICE

$1,777,500

-11%

$2,000,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

-39%

FROM LAST YEAR

UNITS SOLD

11%

FROM LAST YEAR

168

277

DAYS ON MARKET

10 UNITS SOLD

9

Squaw Valley-Alpine Meadows

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$1,447,600

-24%

$1,901,545

FROM LAST YEAR

MEDIAN PRICE

$1,465,000

-17%

$1,775,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

43%

FROM LAST YEAR

UNITS SOLD

-55%

FROM LAST YEAR

468

328

DAYS ON MARKET

5 UNITS SOLD

11

Lake Tahoe – North Shore

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$1,790,333

-12%

$2,036,750

FROM LAST YEAR

MEDIAN PRICE

$1,202,500

-20%

$1,507,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

-10%

FROM LAST YEAR

UNITS SOLD

-14%

FROM LAST YEAR

133

147

DAYS ON MARKET

12 14 UNITS SOLD

Lake Tahoe – West Shore

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$4,282,333

48%

$2,901,300

FROM LAST YEAR

MEDIAN PRICE

$1,744,000

-21%

$2,220,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

-9%

FROM LAST YEAR

UNITS SOLD

20%

FROM LAST YEAR

104

114

DAYS ON MARKET

12

10

UNITS SOLD

Tahoe Donner

January-June 2017 vs. 2016 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2017

2016

AVERAGE PRICE

$1,193,214

6%

$1,127,555

FROM LAST YEAR

MEDIAN PRICE

$1,145,000

4%

$1,100,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2017

2016

DAYS ON MARKET

17%

FROM LAST YEAR

UNITS SOLD

-67% FROM LAST YEAR

88

75

DAYS ON MARKET

7 UNITS SOLD

21

TRUCKEE 530.587.7444 DOWNTOWN RENO 775.324.7000

PORTOLA 530.832.1700

CAUGHLIN RANCH 775.746.7000

DONNER LAKE 530.587.4811

DAMONTE RANCH 775.850.7000

NAKOMA 530.322.3320

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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