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.