Dickson Realty Luxury Trends - Truckee/Tahoe

Luxury Trends 3rd Quarter 2018 Tahoe/Truckee Market Report

DicksonLuxury.com

COVER PROPERTY FEATURED:

9900 & 9340 CARMEN VALLEY TRAIL $8,850,000, MLS# 20181518

Welcome TO OUR 3RD QUARTER 2018 LUXURY MARKET REPORT We are happy to present the 2018 Luxury Home Report through September highlighting the news and trends of luxury home sales in our region. With the seasonal change from autumn to winter, we expect sales might slow until just after the holidays, when activity normally picks up again. With the upcoming winter season upon us, snow enthusiasts are likely to be interested in finding homes to fit their lifestyle, whether at Martis Camp, with its private chairlift to Northstar, or any of the other luxury subdivisions that all lie within close proximity to the six major ski and winter recreation areas.

The overall luxury market is running steady. Our comparisons through the 3rd quarter 2018, when compared to the same period for 2017, show a positive increase in total units sold of 23%. Of those sales, 62% were in the $1M-$2M price range. There was a modest increase in the average sold price of 5%. The average price per square foot rose by 6%. There was a decrease

in average number of days on the market (-19%) which is a positive trend.

Luxury Home inventory has increased moderately with 5% more homes active in the market as of this October versus last year. The largest increase in the number of listings is in the $2M - $3M range, which is up 87% over last year.

We trust you will find the information a useful aid in planning your next real estate sale or purchase. Our team of Dickson Realty Luxury Specialists are here, as always, to provide you with an extraordinary experience based on its unique market knowledge.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January - September 2018 vs. 2017

+23%

+5%

+6%

-19%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2018: 167 2017: 136

2018: $2,377,512 2017: $2,267,901

2018: $648.00 2017: $612.10

2018: 95 2017: 118

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of October 5, 2018, For the periods January - September 2018 compared to January - September 2017

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

167 $2,377,512 $11,750,000

Alpine Meadows NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

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

45

10%

NUMBER OF SALES

$1,591,250

AVERAGE SALES $

$2,150,000

$2,642,475

AVERAGE SALES $

$22,865,543

HIGHEST SALE $

$3,000,000– $4,999,999

$1,672,083 $2,150,000

33 $4,572,212 $40,000,000

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

$1,000,000– $1,999,999

58%

HIGHEST SALE $

6

West Shore, Lake Tahoe, CA NUMBER OF SALES

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

4

Squaw Valley

9%

$1,000,000– $1,999,999

62%

$3,000,000– $4,999,999

15%

14%

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

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

13%

19% $1,000,000– 132 Active Listings $1,999,999 $1,439,138 Average Price

$1,000,000– 159 Sold Listings $1,999,999 $1,353,930 Average Price

$2,000,000– 43 Active Listings $2,999,999 $2,482,530 Average Price

$2,000,000– 34 Sold Listings $2,999,999 $2,477,970 Average Price

$3,000,000– 31 Active Listings $4,999,999 $3,947,870 Average Price

$3,000,000– 39 Sold Listings $4,999,999 $3,897,196 Average Price

133 Average Days On Market

140 Average Days On Market

157 Average Days On Market

$5,000,000 23 Active Listings and higher $10,219,260 Average Price

205 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of October 5, 2018

77 Average Days On Market

65 Average Days On Market

174 Average Days On Market

$5,000,000 23 Sold Listings and higher $10,074,788 Average Price

199 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of October 5, 2018

Recent Dickson Sales

SOLD $4,750,000

Buyer and Seller Representation by Dickson Realty

SOLD $1,700,000

Seller Representation by Dickson Realty

SOLD $1,350,000

Seller Representation by Dickson Realty

Tahoe City

Tahoe Donner

Pine Forest

SOLD $1,615,000

Seller Representation by Dickson Realty

Tahoe Donner

SOLD $1,250,000

Buyer and Seller Representation by Dickson Realty Tahoe Donner

SOLD $1,220,000

Seller Representation by Dickson Realty

Grays Crossing

Recent Dickson Sales

SOLD $1,170,000

Seller Representation by Dickson Realty

SOLD $1,150,000

Seller Representation by Dickson Realty

SOLD $1,150,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

SOLD $1,162,500

Seller Representation by Dickson Realty

SOLD $1,150,000

Seller Representation by Dickson Realty

SOLD $1,100,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

Current Luxury Listings Cover Home

$8,850,000

9900 & 9340 Carmen Valley Trail

$1,595,000

15104 Donner Pass Road

MLS# 20182703

MLS# 20180595

$1,849,500

11036 Henness Road

$1,179,950

13770 Pathway Ave

MLS# 20181994

MLS# 20182169

Old Greenwood

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018

2017

AVERAGE $

AVERAGE PRICE

45%

$2,224,500 $1,538,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

42%

$2,196,500 $1,547,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-59%

FROM LAST YEAR

UNITS SOLD

-60% FROM LAST YEAR

52

126

DAYS ON MARKET

4

10

UNITS SOLD

Gray’s Crossing

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018

2017

AVERAGE $

AVERAGE PRICE

1%

$1,402,545 $1,392,705

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-1%

$1,350,000 $1,365,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

32%

FROM LAST YEAR

UNITS SOLD

-35%

FROM LAST YEAR

86

65

DAYS ON MARKET

11 UNITS SOLD

17

Lahontan

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price AVERAGE $

2018 2018 2017

AVERAGE PRICE

-13%

$2,227,731 $2,550,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-20%

$2,000,000 $ 2,490,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-32%

FROM LAST YEAR

UNITS SOLD

111%

FROM LAST YEAR

102

150

DAYS ON MARKET

19 UNITS SOLD

9

Schaffer’s Mill

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price AVERAGE $

2018 2018 2017

AVERAGE PRICE

10%

$1,618,777 $1,477,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-4%

$1,340,000 $1,400,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-73%

FROM LAST YEAR

UNITS SOLD

0%

FROM LAST YEAR

54

200

DAYS ON MARKET

9 UNITS SOLD

9

Martis Camp

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$5,363,901

19%

$4,503,583

FROM LAST YEAR

MEDIAN PRICE

$4,675,000

18%

$3,975,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

38%

FROM LAST YEAR

UNITS SOLD

13%

FROM LAST YEAR

194

141

DAYS ON MARKET

34

30

UNITS SOLD

Northstar

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,855,400

13%

$1,641,272

FROM LAST YEAR

MEDIAN PRICE

$1,525,000

22%

$1,252,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-9%

FROM LAST YEAR

UNITS SOLD

14%

FROM LAST YEAR

128

140

DAYS ON MARKET

25

22

UNITS SOLD

Squaw Valley-Alpine Meadows

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,639,750

11%

$1,481,093

FROM LAST YEAR

MEDIAN PRICE

$1,533,250

8%

$1,426,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

6%

FROM LAST YEAR

UNITS SOLD

-38%

FROM LAST YEAR

228

215

DAYS ON MARKET

10 UNITS SOLD

16

Lake Tahoe – North Shore

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$2,642,475

38%

$1,916,605

FROM LAST YEAR

MEDIAN PRICE

$1,600,000

21%

$1,324,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-36%

FROM LAST YEAR

UNITS SOLD

18%

FROM LAST YEAR

88

137

DAYS ON MARKET

45

38

UNITS SOLD

Lake Tahoe – West Shore

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$4,572,212

47%

$3,105,745

FROM LAST YEAR

MEDIAN PRICE

$1,900,000

16%

$1,644,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-13%

FROM LAST YEAR

UNITS SOLD

18%

FROM LAST YEAR

112

129

DAYS ON MARKET

33

28

UNITS SOLD

Tahoe Donner

January-September 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,235,368

-1%

$1,242,119

FROM LAST YEAR

MEDIAN PRICE

$1,202,500

2%

$1,180,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-42%

FROM LAST YEAR

UNITS SOLD

111%

FROM LAST YEAR

42

73

DAYS ON MARKET

38 UNITS SOLD

18

LUXETRENDS

®

EXPLORING THE INTRIGUING, THE EXCITING AND THE UNCONVENTIONAL have long been elements of living a fulfilled life.

May the following collection of products and experiences from around the world enhance your days and inspire your next adventure.

1

Wheels Up Private Jet Service

Whether your travel is business or personal, Wheels Up can help you get there for the moments that matter, without losing precious time. Share the sky through this innovative private aviation solution, which provides luxury air travel through an exclusive membership program. If you’re traveling alone or with your family try one of the Wheels Up Shared Flights with other members, Shuttle Flights to popular destinations or opt for a one-way trip on a “Hot Flight” for a fraction of the cost. For business travelers, Wheels Up offers a variety of flexible, convenient and reliable options to get you to your meetings on time with as little as 24 hours’ notice. wheelsup.com

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

2

The World’s Most Versatile Massage Chair

This innovative chair has multiple functions to make your massage experience unforgettable. By combining acupressure, full-body stretching and a unique design, this is more than a chair, but truly a rejuvenating experience. Seemingly endless features include built-in Bluetooth speakers, 34 wellness settings including deep tissue massage and therapeutic relaxation, lumbar heat settings to soothe tight areas, a built-in USB port to play your favorite music and more. One of the most interesting functions is the zero-gravity feature, which gives the chair the ability to recline to any angle to elevate the feet above the heart and promote healing blood flow and reduced back pain. hammacher.com

Image credit: M. Cellard

3

Vinothérapie Spa at Le Sources de Caudalie, Bordeaux, France

The memorable Vinothérapie Spa at the Le Sources de Caudalie hotel in the Bordeaux region of France offers winery-themed spa treatments in an elegant and idyllic atmosphere located between the vineyards and the forests. Among its many treatments and amenities, enjoy an indulgent “A Star’s Day in the Vineyards” package, which provides a full day of pampering treatments including the Vine[Activ] facial, which uses grape-infused Caudalie products and a 50-minute massage, as well as your choice of the Crushed Cabernet or the Divine Scrub treatments to exfoliate the body. Finish the day-long treatment in a relaxing bath infused with grape, red vine and essential oil extracts for the ultimate finish. sources-caudalie.com

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

LUX ETRE N D S ®

4

Tiffany Rose Gold Crazy Straw

6

Digitsole Smartshoe

Ever on trend, Tiffany & Co. has introduced a rose gold crazy straw which is an ideal way to embrace the movement toward reducing use of plastic straws, the world’s most disposable product. This handcrafted item is typical of the quality of Tiffany, made of sterling silver with rose vermeil, and incorporates a distinctive Tiffany Blue® enamel accent that will delight fans of the iconic brand. This fun and imaginative piece is sure to evoke nostalgia and is the perfect gift for the person who has everything. tiffany.com

Image credit: Tiffany & Co.

5

Archipod

Revolutionizing the home office, U.K. based Archipod provides an elevated outdoor office space to those who work from home. Enjoy a quality work space, diminish your carbon footprint and cut down on commuting, all at the same time.

Made from timber and constructed in a sphere of about 10 feet (3 meters), the structure is assembled in small sections so that no matter where you live, they will be able to get the ‘Pod’ onto your site. The structure receives excellent natural light and should not require additional planning permissions prior to installation. Pods are made to order and only require connection to electricity and telephone lines from the main home. archipod.com

Digitsole, a leader in the world of footwear technology, has developed an innovative new product called the Smartshoe, that can perform a variety of tasks to make the wearer’s stride more comfortable. Connected through an app on your smartphone, each pair of these futuristic shoes can warm the foot to a desired temperature, track the wearer’s daily posture, steps, calories and more, to help prevent injury and improve overall health. The lace-less shoes have a tongue-like cover that is activated via an app or by pressing a button on the side and are powered by a rechargeable lithium battery that lasts between five hours to eight weeks, depending on use. digitsole.com

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

7

Four Seasons Tented Camp Golden Triangle, Chiang Rai, Thailand

Relax and explore your surroundings accompanied by elephants and the sounds of nature at this stunning experiential retreat. The Tented Camp in the Golden Triangle region of northern Thailand offers guests an exclusive opportunity to enjoy magnificent accommodations, including a boat excursion, which leisurely sails you down the Ruak River allowing you to see the local life of Thailand on one side and Burma on the other.

Only minutes away from the resort, you can also explore the hilltop Buddhist temple Wat Phra That Pha Ngao, which contains an ancient statue and provides panoramic views of the Mekong River. With only 15 tents available, guests are invited to stay for a three or four-day holiday and enjoy camp activities such as spa treatments, cooking classes from the executive chef on staff or exploring the wilderness accompanied by an elephant keeper. fourseasons.com/goldentriangle

8

CAYAGO SEABOB

Manufactured by CAYAGO, a premium company based in Stuttgart, Germany, the SEABOB is the world’s fastest water sled. Have an exciting adventure while enjoying this new way to explore the sea, above or below the water’s surface while you maneuver with the grace and agility of a dolphin. Users can manage their diving depth while reaching speeds of 10 to 12 mph (15 to 20 km/h) and going to depths of up to 131 feet (40 meters).

Available in three distinct models that vary in propulsion, speed and operating time, the SEABOB offers a new way to enjoy water sports. seabob.com

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

CU R AT E D

INCORPORATING THE UNCONVENTIONAL AND BESPOKE 1

WHAT MAKES

A HOME DISTINCTIVE?

In a world with near-infinite choices, it can be surprisingly difficult to find the truly unique.

It may be even more challenging to ensure art, furnishings and dĂŠcor all align.

Customized pieces can help unite imagination and reality, ensuring that a home is exactly as an owner envisioned. Many artists and artisans work directly with homeowners and decorators to create unique and customized pieces of art, sculpture and furniture that are created specifically to suit a space. The end result guarantees those that can afford it have incredibly special and personalized pieces that can truly be a reflection of their personality and sense of self.

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

1

Robson Furniture

2

Art Donovan

3

Kevin Caron

4

Erin Ashley

Based in the U.K., Robson Furniture offers made-to-order furnishings from a large variety of materials including glass, metal, marble, wood and fabric and they can even assist in determining the size and shape of the furniture so that it fits the scale of the room. The company sources designers from around the world and their bespoke service allows clients to customize every detail including adding gold or silver leaf finishes for a final luxurious touch. Styles range from bold contemporary Italian pieces to traditional styles in rich mahogany and oak. The unique design of each piece adds a one-of-a-kind accent to any home. robsonfurniture.co.uk

Known for his illuminated art installations and steampunk aesthetic, Art Donovan lamps and illuminated sculptures are featured at the Whitney Museum of American Art and the Art Institute of Chicago as well as in restaurants, hotels, casinos and celebrated private residences around the world. Donovan’s designs aren’t just beautiful, they provide light and atmosphere, turning a home into a mechanical wonderland. donovandesign.artspan.com

Delighting in the expressive capabilities of metal, Kevin Caron has created a variety of large sculptures for both public and private spaces. He has designed for cities, commercial spaces and private residences. Having completed over 50 commissions in his career thus far, his work can be found throughout the United States. His striking, swooping sculptures in metal and large format 3D-printed resin make a bold statement in private gardens. kevincaron.com

Erin Ashley’s art is known for its vivid approach to color. Ashley takes her inspiration from everyday life and is inspired by things that are often overlooked, like the beauty that emanates from an object changed by time. Her approach to texture and layers of color creates a patina effect that is a fusion of old and new. Each work is unique, and Ashley has created custom pieces that have been featured on HGTV as well as appearing in books and galleries. Ashley works with clients to match pieces that work seamlessly with their décor. erinashleyart.com

3

4

2

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

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

© 2018 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.