Luxury Trends 1st Quarter 2018 Tahoe/Truckee Market Report
DicksonLuxury.com
COVER PROPERTY FEATURED:
15104 DONNER PASS ROAD $1,695,000, MLS# 20180595
Welcome TO OUR 1ST QUARTER 2018 LUXURY MARKET REPORT We are now transitioning from Winter to Spring in the Truckee/Tahoe area. The best of all worlds collide in March bringing the joy of Spring skiing and the anticipated opening of the many golf courses. Truckee/ Tahoe is known world-wide for its beautiful seasons and the abundance of diverse outdoor activities the area has to offer all year long. Our market continues to trend positively. At 77 homes sold during the 1st quarter of 2018, actual sales were up 48% when compared to the same quarter of 2017. While average sales prices were down slightly (-3.8%), the median pricing rose by 18% over last year. A majority of the sales, 61%, achieved average pricing of $1.4 million; 17% were at $2.4 million; 18% averaged $4.2 million and 3% sold at $8.0 million. This remains a healthy Luxury Home market.
With the current low inventory levels, we anticipate the market pricing to remain stable or increase slightly. However, there are other global uncertainties that may have an impact on the market. More than ever, it is important to utilize the skills of a real estate professional specializing in luxury home sales. Our highly trained, experienced agents are here to assist you whether you are buying, selling or both. Dickson Realty’s agents are all REALTORS® and have access to the most current and reliable market data available in order to help clients make fully informed choices.
—Broker/Manager, Dickson Realty Truckee
Luxury Home Averages Over $1 Million January-March 2018 vs. 2017
+48%
+1%
-1%
-42%
TOTAL UNITS SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2018: 77 2017: 52
2018: $2,304,689 2017: $2,272,795
2018: $638 2017: $647
2018: 98 2017: 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, January 1-March 31, 2018 as of April 10, 2018.
Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
58 $2,306,139 $8,800,000
Alpine Meadows NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
North Shore, Lake Tahoe, CA NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
9
9%
NUMBER OF SALES
$1,175,000 $1,200,000
$1,969,444
AVERAGE SALES $
$3,770,000
HIGHEST SALE $
$3,000,000– $4,999,999
14%
AVERAGE SALES $ HIGHEST SALE $
8 $2,953,750 $7,500,000
Sold Listings Over $1 Million $5,000,000 and higher
$1,000,000– $1,999,999
58%
0
West Shore, Lake Tahoe, CA NUMBER OF SALES
Active Listings Over $1 Million $5,000,000 and higher
2
Squaw Valley
8%
$1,000,000– $1,999,999
61%
$3,000,000– $4,999,999
14% $2,000,000$2,999,999
17%
$2,000,000$2,999,999
19% $1,000,000– 93 Active Listings $1,999,999 $1,445,009 Average Price
$1,000,000– 47 Sold Listings $1,999,999 $1,314,646 Average Price
$2,000,000– 31 Active Listings $2,999,999 $2,511,193 Average Price
$2,000,000– 13 Sold Listings $2,999,999 $2,450,769 Average Price
$3,000,000– 23 Active Listings $4,999,999 $4,019,695 Average Price
$3,000,000– 11 Sold Listings $4,999,999 $3,959,333 Average Price
158 Average Days On Market
181 Average Days On Market
173 Average Days On Market
$5,000,000 15 Active Listings and higher $10,160,000 Average Price
295 Average Days On Market
72 Average Days On Market
61 Average Days On Market
186 Average Days On Market
$5,000,000 6 Sold Listings and higher $6,710,000 Average Price
230 Average Days On Market
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, January 1-March 31, 2018 as of April 10, 2018.
Recent Dickson Sales
SOLD $1,990,000
Seller Representation by Dickson Realty
SOLD $1,450,000
Seller Representation by Dickson Realty
SOLD $1,337,500
Seller Representation by Dickson Realty
Northstar
Buckhorn Ridge
Tahoe Donner
SOLD $1,835,645
Buyer and Seller Representation by Dickson Realty
SOLD $1,425,000
Buyer and Seller Representation by Dickson Realty
SOLD $1,300,000
Buyer Representation by Dickson Realty
Tahoe Donner
Tahoe Donner
The Meadows
Recent Dickson Sales
SOLD $1,250,000
Seller Representation by Dickson Realty
SOLD $1,150,000
Seller Representation by Dickson Realty
SOLD $1,371,000
Tahoe Donner
Gray’s Crossing
Buyer and Seller Representation by Dickson Realty Tahoe Donner
SOLD $1,250,000
Seller Representation by Dickson Realty
SOLD $1,125,000
Seller Representation by Dickson Realty
SOLD $1,125,000
Buyer and Seller Representation by Dickson Realty
Tahoe Donner
Tahoe Donner
Truckee
Old Greenwood
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018
2017
AVERAGE $
AVERAGE PRICE
81%
$2,334,000 $1,287,500
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
77%
$2,334,000 $1,315,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-87%
FROM LAST YEAR
UNITS SOLD
-50% FROM LAST YEAR
6
46
DAYS ON MARKET
2 UNITS SOLD
4
Gray’s Crossing
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018
2017
AVERAGE $
AVERAGE PRICE
-6%
$1,387,500 $1,479,400
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
-15%
$1,310,000 $1,550,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-7%
FROM LAST YEAR
UNITS SOLD
-20%
FROM LAST YEAR
67
72
DAYS ON MARKET
4 UNITS SOLD
5
Lahontan
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
$1,809,612
$1,758,000
Average Days on Market vs. Units Sold 2018
147 DAYS ON MARKET
8 UNITS SOLD
Martis Camp
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$4,987,638
29%
$3,864,642
FROM LAST YEAR
MEDIAN PRICE
$4,675,000
28%
$3,652,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-6%
FROM LAST YEAR
UNITS SOLD
71%
FROM LAST YEAR
189
200
DAYS ON MARKET
12 UNITS SOLD
7
Northstar
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$2,240,750
49%
$1,507,000
FROM LAST YEAR
MEDIAN PRICE
$1,805,000
29%
$1,397,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
17%
FROM LAST YEAR
UNITS SOLD
-20%
FROM LAST YEAR
134
115
DAYS ON MARKET
8
10
UNITS SOLD
Squaw Valley-Alpine Meadows
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$1,175,000
-30%
$1,670,000
FROM LAST YEAR
MEDIAN PRICE
$1,175,000
-31%
$1,710,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-83%
FROM LAST YEAR
UNITS SOLD
-33%
FROM LAST YEAR
115
674
DAYS ON MARKET
2 UNITS SOLD
3
Lake Tahoe – North Shore
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$1,969,444
41%
$1,392,500
FROM LAST YEAR
MEDIAN PRICE
$1,350,000
20%
$1,125,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-57%
FROM LAST YEAR
UNITS SOLD
13%
FROM LAST YEAR
71
166
DAYS ON MARKET
9 UNITS SOLD
8
Lake Tahoe – West Shore
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$2,953,750
-49%
$5,791,145
FROM LAST YEAR
MEDIAN PRICE
$2,197,500
32%
$1,660,937
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-33%
FROM LAST YEAR
UNITS SOLD
33%
FROM LAST YEAR
125
186
DAYS ON MARKET
8 UNITS SOLD
6
Tahoe Donner
January-March 2018 vs. 2017 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2018
2017
AVERAGE PRICE
$1,197,852
-3%
$1,240,000
FROM LAST YEAR
MEDIAN PRICE
$1,170,000
-1%
$1,185,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2018
2017
DAYS ON MARKET
-42%
FROM LAST YEAR
UNITS SOLD
476% FROM LAST YEAR
46
79
DAYS ON MARKET
17 UNITS SOLD
3
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.