Luxury Trends for Truckee/Tahoe - 1st Quarter 2019

Luxury Trends 1st Quarter 2019 Tahoe/Truckee Market Report

DicksonLuxury.com

WELCOME

COVER PROPERTY FEATURED:

TO OUR 1ST QUARTER 2019 LUXURY MARKET REPORT Truckee/Tahoe is known worldwide for its beautiful seasons and abundance of diverse outdoor activities year-long. With the region experiencing record-setting snowfall this Winter, the six major ski and snow recreation areas are extending their closing dates to late April, early May. As the transition from Winter to Spring continues, the area's award-winning Golf Courses will soon be announcing their opening dates.

The Luxury homes market had fewer sales in 1st quarter of 2019, 49 homes sold compared to 79 last year, yet the average price rose 46% to $3,329,766. Median pricing rose 25% to $1,870,000. The average price per square foot excalated from $633/sf in 2018 to the current $868/sf. This is a positive movement in this market.

The Luxury Home market continues to perform well. At 55%, the majority of sales achieved average pricing of $1.4 million; 14% of sales averaged $2.5 million; 20% averaged $4.0 million; and, 10% averaged $12.0 million. Martis Camp continues to lead in market share capturing 20% of the sales. This is followed by Northstar with 16.3% of the sales.

The highest priced sale in the market was $37,000,000 on West Shore Lake Tahoe, California.

15339 SKISLOPE WAY TAHOE DONNER $1,950,000

The current inventory remains low with only 155 active listings.

Based on the continued low inventory, we expect the market pricing will remain relatively stable.

We urge you to review your short and long-range property ownership goals. Is buying, selling, downsizing or upsizing in your horizon? We trust you will find this information a useful aid in planning your next real estate sale or buy. Our team of Dickson Realty Luxury Specialists is here, as always, to offer you an extraordinary experience based on its unique market knowledge.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January - March 2019 compared to January - March 2018

-37%

+19%

+21%

+39%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2019: 37 2018: 59

2019: $2,730,379 2018: $2,288,238

2019: $727.32 2018: $601.36

2019: 139 2018: 100

Data Source: Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 4, 2019

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

37 $2,730,379 $7,450,000

Alpine Meadows NUMBER OF SALES

AVERAGE SALES $ HIGHEST SALE $

$2,575,000

AVERAGE SALES $

HIGHEST SALE $

$3,650,000

HIGHEST SALE $

3 $2,375,000

AVERAGE SALES $

$4,300,000

10%

HIGHEST SALE $

$3,000,000– $4,999,999

$1,567,500 $1,600,000

5 $8,982,400 $37,000,000

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

$1,000,000– $1,999,999

55%

2

West Shore, Lake Tahoe, CA NUMBER OF SALES

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

NUMBER OF SALES

AVERAGE SALES $

North Shore, Lake Tahoe, CA NUMBER OF SALES

2

Squaw Valley

10%

$1,000,000– $1,999,999

58%

$3,000,000– $4,999,999

13%

20%

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

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

20%

14% $1,000,000– 27 Sold Listings $1,999,999 $1,439,937 Average Price

$1,000,000– 89 Active Listings $1,999,999 $1,452,953 Average Price

$2,000,000– 7 Sold Listings $2,999,999 $2,524,357 Average Price

$2,000,000– 32 Active Listings $2,999,999 $2,481,716 Average Price

$3,000,000– 10 Sold Listings $4,999,999 $4,076,253 Average Price

$3,000,000– 20 Active Listings $4,999,999 $3,862,500 Average Price

125 Average Days On Market

98 Average Days On Market

102 Average Days On Market

$5,000,000 5 Sold Listings and higher $12,770,000 Average Price

243 Average Days On Market

190 Average Days On Market

224 Average Days On Market

197 Average Days On Market

$5,000,000 15 Active Listings and higher $8,117,866 Average Price

230 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 4, 2019

Recent Dickson Sales

SOLD $2,545,000

Buyer Representation by Dickson Realty

SOLD $1,700,000

Seller Representation by Dickson Realty

SOLD $1,595,000

Seller Representation by Dickson Realty

Soda Springs

Tahoe Donner

Donner Lake

SOLD $1,960,000

Buyer Representation by Dickson Realty

SOLD $1,600,000

Buyer Representation by Dickson Realty

SOLD $1,589,000

Buyer Representation by Dickson Realty

Lahontan

Tahoe Donner

Gray’s Crossing

Recent Dickson Sales

SOLD $1,500,000

Buyer Representation by Dickson Realty

SOLD $1,420,000

Buyer Representation by Dickson Realty

SOLD $1,170,000

Seller Representation by Dickson Realty

Tahoe Donner

Donner Lake

Tahoe Donner

SOLD $1,500,000

Buyer Representation by Dickson Realty

Tahoe Donner

SOLD $1,250,000

Buyer and Seller Representation by Dickson Realty Tahoe Donner

SOLD $1,162,500

Buyer & Seller Representation by Dickson Realty

Tahoe Donner

Recent Dickson Sales

SOLD $1,125,000

Buyer Representation by Dickson Realty

SOLD $1,100,000

Seller Representation by Dickson Realty

SOLD $1,050,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Old Greenwood

SOLD $1,115,000

Buyer Representation by Dickson Realty

SOLD $1,075,000

Buyer Representation by Dickson Realty

SOLD $1,030,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

Current Luxury Listings Cover Home Pending

$8,850,000

9900 & 9340 Carmen Valley Trail

$1,399,000 16356 Greenlee

MLS# 20182703

MLS#20183054

$1,950,000

15339 Skislope Way

$1,199,000

11726 Kitzbuhel Road

MLS#20190510

Old Greenwood

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

-100%

$2,334,000

FROM LAST YEAR

MEDIAN PRICE

-100%

$2,334,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-100% FROM LAST YEAR

UNITS SOLD

-100% FROM LAST YEAR

6 DAYS ON MARKET

2 UNITS SOLD

Gray’s Crossing

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

-100%

$1,387,500

FROM LAST YEAR

MEDIAN PRICE

-100%

$1,310,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-100% FROM LAST YEAR

UNITS SOLD

-100% FROM LAST YEAR

67 DAYS ON MARKET

4 UNITS SOLD

Lahontan

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price AVERAGE $

2019 2018 2018

AVERAGE PRICE

64.7%

$2,981,000 $1,809,612

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

59.8%

$2,810,000 $1,758,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

5%

FROM LAST YEAR

UNITS SOLD

-38%

FROM LAST YEAR

154

147

DAYS ON MARKET

5 UNITS SOLD

8

Schaffer’s Mill

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price AVERAGE $

2019 2018 2018

AVERAGE PRICE

-4.5%

$1,165,000 $1,220,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-7.2%

$1,165,000 $1,255,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

893% FROM LAST YEAR

UNITS SOLD

-33%

FROM LAST YEAR

139

14

DAYS ON MARKET

2 UNITS SOLD

3

Martis Camp

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$5,091,753

2.1%

$4,987,638

FROM LAST YEAR

MEDIAN PRICE

$4,559,000

-2.5%

$4,675,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-22%

FROM LAST YEAR

UNITS SOLD

-17%

FROM LAST YEAR

148

189

DAYS ON MARKET

10 UNITS SOLD

12

Northstar

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$1,890,875

-15.6%

$2,240,750

FROM LAST YEAR

MEDIAN PRICE

$1,835,000

1.7%

$1,805,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

51%

FROM LAST YEAR

UNITS SOLD

0%

FROM LAST YEAR

202

134

DAYS ON MARKET

8 UNITS SOLD

8

Squaw Valley-Alpine Meadows

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$2,017,250

71.7%

$1,175,000

FROM LAST YEAR

MEDIAN PRICE

$1,567,500

33.4%

$1,175,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-23%

FROM LAST YEAR

UNITS SOLD

100% FROM LAST YEAR

88

115

DAYS ON MARKET

4 UNITS SOLD

2

Lake Tahoe – North Shore

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$2,375,000

26.5%

$1,877,800

FROM LAST YEAR

MEDIAN PRICE

$1,575,000

22.3%

$1,287,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

64%

FROM LAST YEAR

UNITS SOLD

-70%

FROM LAST YEAR

151

92

DAYS ON MARKET

3

10

UNITS SOLD

Lake Tahoe – West Shore

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$8,982,400

204.1%

$2,953,750

FROM LAST YEAR

MEDIAN PRICE

$2,000,000

-9.0%

$2,197,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-28%

FROM LAST YEAR

UNITS SOLD

-38%

FROM LAST YEAR

90

125

DAYS ON MARKET

5 UNITS SOLD

8

Tahoe Donner

January-March 2019 vs. 2018 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2019

2018

AVERAGE PRICE

$1,276,333

6.6%

$1,197,852

FROM LAST YEAR

MEDIAN PRICE

$1,347,500

15.2%

$1,170,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2019

2018

DAYS ON MARKET

-7%

FROM LAST YEAR

UNITS SOLD

-65% FROM LAST YEAR

43

46

DAYS ON MARKET

6 UNITS SOLD

17

I’M LOCAL I’M GLOBAL

®

INDUSTRYLEADING SALES. WORLD-CLASS SERVICE.

MORE U.S. HOME SALES VOLUME $32 BILLION MORE U.S. HOME SALES VOLUME IN 2018 THAN OUR CLOSEST COMPETITOR AMONG THE TOP 500 FIRMS 300

Leading Real Estate Companies of the World® Keller Williams

565 COMPANIES

4,300 OFFICES

130,000 SALES ASSOCIATES

OVER 70 COUNTRIES

250

Non-LeadingRE Independents Berkshire Hathaway Home Services RE/MAX

$222

Sotheby’s International Realty Century 21

200

HomeSmart

$192

ERA

$182

Better Homes & Gardens Realty Executives Exit Realty

150

100

®

Leading Real Estate Companies of the World

1.1 MILLION GLOBAL TRANSACTIONS

Coldwell Banker

$254

$89

$83 $72

50

$30 $14

$14

$12

$7

$.5

0

Volume shown in billions of dollars This bar chart is sourced from REAL Trends Top 500 for 2018, realtrends.com

®

© 2019 Leading Real Estate Companies of the World. All Rights Reserved.

C–Sales Volume. 04.19

Equal Housing Opportunity.

As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience.

SNAPSHOT OF TODAY’S LUXURY REAL ESTATE BUYER DEMOGRAPHICS* 4% 28%

57% 37%

Male

43%

Female

30%  Millennials (20–39)  Gen X (40–53)  Boomers (54–72)

Average age

Have children under 18

Married

46

50%

83%

 Matures (73+)

FINANCIAL SNAPSHOT (GLOBAL, REPORTED IN EQUALIZED USD) Average income

$473,000

GLOBAL AFFLUENT POPULATION:

17%

GLOBAL BREAKDOWN: Average assets

$8.75 million

North America

Europe

Middle East

Asia-Pacific (Excluding China)

China

Average liquidity (cash, stocks, bonds, retirement assets)

$5.95 million

18%

19% 31%

Average amount in real estate holdings

$2.60 million *This group has “self-identified” in our study as those who purchase luxury property/real estate “every time or almost every time” they are in the market.

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

23% 7%

Luxury real estate is a discretionary purchase, and therefore it is critical to take a 360-degree look at the lifestyle passions of this consumer as a way to develop an insightful, relevant and impactful marketing

TOP 5 PASSIONS

#1

#2

#3

#4

#5

campaign; the top passions below give insight into affluent homeowners’ greatest passions, and how they differ around the world.

MOST DISTINCTIVE PASSIONS BY REGION

Worldwide

North America

Europe

Middle East

Asia-Pacific

Traveling

Fine Dining

Fashion/Style

Shopping

Running

Watching Movies/TV

Wine

Interior Design

Personal Appearance

Shopping

Reading Books

Fitness & Exercise

Cars

Technology & Electronics

Beer

Health & Wellness

Cooking

Outdoor Activities

Entertaining at Home

Recreational Sports

Fitness & Exercise

Volunteering

Collecting Art

Video Gaming

Video Gaming

In fact, based on a recent study conducted on behalf of Luxury Portfolio International,ÂŽ visitors to its flagship website luxuryportfolio.com, track perfectly with the attributes and interests outlined above. Additionally, luxuryportfolio.com visitors were found to be deeply passionate about investing and investment services.

They are also business and political news readers and are passionate about green living and home decor. These insights can be used to drive the purchase of something as complex as a Google Adwords display campaign, or as simple as a one-off Facebook social campaign.

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

lux¡u¡ry (luhk-shuh-ree) noun 1. the state of great comfort and extravagant living. synonyms: opulence, luxuriousness, sumptuousness, grandeur, magnificence, splendor, lavishness, the lap of luxury, a bed of roses, (the land of) milk and honey.

TRUCKEE 530.587.7444 DOWNTOWN RENO 775.324.7000

CAUGHLIN RANCH 775.746.7000

PORTOLA 530.832.1700 DAMONTE RANCH 775.850.7000

DONNER LAKE 530.587.4811 SOMERSETT 775.746.7222

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

DicksonLuxury.com | luxury@dicksonrealty.com

© 2019 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.