Truckee/Tahoe Luxury Trends 1st Quarter 2021

Luxury Trends 1st Quarter 2021 Tahoe/Truckee Market Report

IN ESCROW IN ONE WEEK! $40,000 over asking price

13878 Pathway Ave $2,250,000 Tahoe Donner COMING SOON

DicksonLuxury.com

COVER PROPERTY FEATURED

WELCOME TO OUR 1ST QUARTER 2021

13878 PATHWAY AVE TAHOE DONNER $2,250,000

LUXURY HOME MARKET REPORT

COMING SOON

We hope our Luxury Trends report finds you and your family safe and healthy as we end this first quarter of a new year, after a year of tremendous challenges. It is remarkable how the housing market turned out in the Truckee/Tahoe region.

We would never have predicted these results back on March 20, 2020, as our communities were affected by the Coronavirus and our schools and many of our businesses shut down for much of the year, and our own business closed our office doors, for the next two and a half months. Luckily, our business allows us to transact our business remotely, and we have continued to adhere to the safety protocols set forth by all the governing agencies.

There are several observations about the results. First, our Luxury Market has been redefined. As the number of people leaving more populated areas of California increased, those number of people (demand) compared to the amount of inventory (supply) drove prices up, increasing the number of properties priced and sold at $1,000,000 and above. In the first quarter of 2021, those comprised 150 sales as compared to only 64 last year in Q1, an increase of 134%. Even with the higher prices, we were surprised (and continue to be) by the thousands of dollars over list price most properties sold for. Luxury Homes market times were approx. 60 days, a decrease from 141 average days on market in Q1 2020.

Before you ask, we do not believe our luxury market will crash, and we will go so far as to predict pricing will not be reduced anytime in the near future. There are several reasons for this; first, interest rates are at historic lows and while they may increase a bit in 2021, it will be minor; second, the migration of luxury buyers are typically coming from more expensive areas, so our prices still compare favorably. Lastly, the number of employees that can work remotely from anywhere are finding the wide-open spaces and recreational opportunities in our area to be very attractive.

Enjoy seeing the results of sales in the Truckee/Tahoe region and if we can help interpret or offer additional insights, please contact one of our outstanding and knowledgeable agents who specialize in the luxury market.

Stay safe and healthy and we look forward to the time we can gather and celebrate life in person with you.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January - march 2021 compared to January - march 2020

+134% +17.5%

+25%

-57%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2021: 150 2020: 64

2021: $2,667,143 2020: $2,270,485

2021: $870 2020: $697

2021: 61 2020: 141

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 5, 2021

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

Alpine Meadows NUMBER OF SALES

95 $2,796,022 $12,795,000

AVERAGE SALES $ HIGHEST SALE $

NUMBER OF SALES

1

AVERAGE SALES $

$1,325,000

AVERAGE SALES $

HIGHEST SALE $

$1,325,000

HIGHEST SALE $

North Shore, Lake Tahoe, CA NUMBER OF SALES

NUMBER OF SALES

23 $1,811,032

AVERAGE SALES $

$5,336,250

10%

HIGHEST SALE $

$4,000,000

20 $3,463,250 $31,000,000

$5,000,000 and higher

24%

62%

11%

$2,018,699

Active Listings Over $1 Million

$1,000,000– $1,999,999

$3,000,000– $4,999,999

11

West Shore, Lake Tahoe, CA

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

Squaw Valley

$1,000,000– $1,999,999

28%

$3,000,000– $4,999,999

16%

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

17%

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

32% $1,000,000– 93 Sold Listings $1,999,999 $1,434,906 Average Price

$1,000,000– 23 Active Listings $1,999,999 $1,584,391 Average Price

$2,000,000– 26 Sold Listings $2,999,999 $2,510,153 Average Price

$2,000,000– 26 Active Listings $2,999,999 $2,195,000 Average Price

$3,000,000– 16 Sold Listings $4,999,999 $3,900,937 Average Price

$3,000,000– 13 Active Listings $4,999,999 $3,934,153 Average Price

52 Average Days On Market

76 Average Days On Market

79 Average Days On Market

$5,000,000 15 Sold Listings and higher $9,263,083 Average Price

72 Average Days On Market

71 Average Days On Market

50 Average Days On Market

13 Average Days On Market

$5,000,000 20 Active Listings and higher $12,193,450 Average Price

97 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 5, 2021

Recent Dickson Sales

SOLD $6,410,000

Buyer Representation by Dickson Realty

SOLD $3,295,000

Seller Representation by Dickson Realty

SOLD $2,930,000

Seller Representation by Dickson Realty

SOLD $2,650,000

Buyer Representation by Dickson Realty

Martis Camp

Schaffers Mill

Donner Lake

Northstar

SOLD $3,333,500

Buyer Representation by Dickson Realty

SOLD $3,200,000

Buyer Representation by Dickson Realty

SOLD $2,650,000

Buyer Representation by Dickson Realty

SOLD $2,625,000

Buyer Representation by Dickson Realty

Donner Lake

Northstar

Lahontan

Schaffers Mill

Recent Dickson Sales

SOLD $2,600,000

Buyer Representation by Dickson Realty

SOLD $2,425,000

Seller Representation by Dickson Realty

SOLD $2,000,000

Seller Representation by Dickson Realty

SOLD $1,730,000

Buyer Representation by Dickson Realty

Northstar

Northstar

Truckee River

Tahoe Donner

SOLD $2,600,000

Seller Representation by Dickson Realty

SOLD $2,200,000

Seller Representation by Dickson Realty

SOLD $1,758,000

Seller Representation by Dickson Realty

SOLD $1,700,000

Buyer Representation by Dickson Realty

Tahoe Donner

Northstar

Juniper Creek Ranch

Martiswoods Estates

Recent Dickson Sales

SOLD $1,675,000

Seller Representation by Dickson Realty

SOLD $1,585,000

Seller Representation by Dickson Realty

SOLD $1,500,000

Seller Representation by Dickson Realty

SOLD $1,430,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Northstar

Tahoe Donner

SOLD $1,675,000

Seller Representation by Dickson Realty

SOLD $1,550,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,475,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,415,000

Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Schaffers Mill

Tahoe Donner

Recent Dickson Sales

SOLD $1,385,000

Northstar

Seller Representation by Dickson Realty

SOLD $1,350,000

Tahoe Donner

Buyer Representation by Dickson Realty

SOLD $1,300,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,270,000

Seller Representation by Dickson Realty

Northstar

Martiswoods Estates

SOLD $1,350,000

Buyer Representation by Dickson Realty

SOLD $1,325,000

BuyerRepresentation by Dickson Realty

SOLD $1,275,000

Seller Representation by Dickson Realty

SOLD $1,250,000

Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Northstar

Tahoe Donner

Recent Dickson Sales

SOLD $1,235,000

Seller Representation by Dickson Realty

SOLD $1,200,000

Seller Representation by Dickson Realty

SOLD $1,185,000

Buyer Representation by Dickson Realty

SOLD $1,182,500

Buyer Representation by Dickson Realty

Kingswood Estates

Tahoe Donner

Grays Crossing

Brockway Springs

SOLD $1,225,000

Seller Representation by Dickson Realty

SOLD $1,198,000

Seller Representation by Dickson Realty

SOLD $1,185,000

Seller Representation by Dickson Realty

SOLD $1,175,000

Buyer Representation by Dickson Realty

Tahoe Donner

Juniper Hills

Donner Lake

Tahoe Donner

Recent Dickson Sales

SOLD $1,175,000

Seller Representation by Dickson Realty

SOLD $1,150,000

Seller Representation by Dickson Realty

SOLD $1,125,000

Seller Representation by Dickson Realty

SOLD $1,100,000

Buyer Representation by Dickson Realty

Tahoe Donner

Cambridge Estates

Tahoe Donner

The Meadows

SOLD $1,150,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,130,000

Buyer Representation by Dickson Realty

SOLD $1,115,000

Seller Representation by Dickson Realty

SOLD $1,100,000

Buyer & Seller Representation by Dickson Realty

Tahoe Donner

Donner Lake

Tahoe Donner

Tahoe Donner

Recent Dickson Sales

SOLD $1,094,500

Buyer Representation by Dickson Realty

SOLD $1,075,000

Seller Representation by Dickson Realty

SOLD $1,010,000

Buyer Representation by Dickson Realty

SOLD $1,005,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

Sierra Meadows

SOLD $1,085,000

Tahoe Donner

Buyer Representation by Dickson Realty

SOLD $1,049,000

Buyer & Seller Representation by Dickson Realty

SOLD $1,005,000

Buyer Representation by Dickson Realty

SOLD $1,000,000

Buyer Representation by Dickson Realty

Tahoe Donner

Prosser Lake Heights

Tahoe Donner

Current Luxury Listings Coming Soon

$2,250,000

13878 Pathway Ave

Tahoe Donner

$2,200,000

11644 China Camp MLS# 20210841

Grays Crossing

In Escrow

$1,995,000

10041 Church Street MLS# 20201435

Downtown Truckee

In Escrow

$1,400,000

14473 Wolfgang Road MLS# 20210736

$1,995,000

351 Skidder Trail MLS# 20210107

Northstar

In Escrow

Tahoe Donner

$1,385,000

11830 Bottcher Loop MLS# 20210146

Grays Crossing

Current Luxury Listings In Escrow

$1,385,000

12584 Prosser Dam Road MLS# 20210629

In Escrow

Prosser Lake

$1,260,000

11491 Baden Road MLS# 20210761

Tahoe Donner

In Escrow

$1,098,000

10037 SE River Street MLS# 20210729

Downtown Truckee

940 Ward Creek Blvd MLS# 20210781

13848 Copenhagen Drive MLS# 20210628

Tahoe Donner

In Escrow

In Escrow

$1,050,000

$1,050,000

Pineland

$1,050,000

12849 Peregrine Drive MLS# 20210812

Tahoe Donner

Old Greenwood

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$2,172,500

+42.5%

$1,525,000

FROM LAST YEAR

MEDIAN PRICE

$2,172,500

+42.5%

$1,525,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-98%

FROM LAST YEAR

UNITS SOLD

0%

FROM LAST YEAR

3

136

DAYS ON MARKET

2 UNITS SOLD

2

Gray’s Crossing

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$2,002,933

+51.5%

$1,322,500

FROM LAST YEAR

MEDIAN PRICE

$1,988,800

+50.7%

$1,320,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-69%

FROM LAST YEAR

UNITS SOLD

-25%

FROM LAST YEAR

39

126

DAYS ON MARKET

3

UNITS SOLD

4

Lahontan

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price AVERAGE $

2021 2018 2020

AVERAGE PRICE

+30.6%

$3,288,333 $2,518,750

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+23%

$3,152,500 $2,562,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-39%

FROM LAST YEAR

UNITS SOLD

+50% FROM LAST YEAR

54

89

DAYS ON MARKET

6 UNITS SOLD

4

Schaffer’s Mill

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price AVERAGE $

2021 2018 2020

AVERAGE PRICE

+21.2%

$1,927,083 $1,590,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+17.8%

$1,866,750 $1,585,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-1133% FROM LAST YEAR

UNITS SOLD

+100% FROM LAST YEAR

37

3

DAYS ON MARKET

6 UNITS SOLD

3

Martis Camp

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$6,758,333

+45.1%

$4,657,705

FROM LAST YEAR

MEDIAN PRICE

$5,612,500

+34.2%

$4,181,025

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-77%

FROM LAST YEAR

UNITS SOLD

+80% FROM LAST YEAR

53

226

DAYS ON MARKET

18

10

UNITS SOLD

Northstar

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$2,335,221

+60.7%

$1,453,000

FROM LAST YEAR

MEDIAN PRICE

$1,964,169

+30.9%

$1,500,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-17%

FROM LAST YEAR

UNITS SOLD

+78%

FROM LAST YEAR

109

131

DAYS ON MARKET

16 UNITS SOLD

9

Squaw Valley-Alpine Meadows

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$1,960,890

+11%

$1,766,250

FROM LAST YEAR

MEDIAN PRICE

$1,747,000

-11.5%

$1,975,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-48%

FROM LAST YEAR

UNITS SOLD

+50%

FROM LAST YEAR

104

200

DAYS ON MARKET

12 UNITS SOLD

8

Lake Tahoe – North Shore

January-March 2021 vs. 2020Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$1,811,032

-39.6%

$2,996,833

FROM LAST YEAR

MEDIAN PRICE

$1,620,000

-14.7%

$1,900,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-47%

FROM LAST YEAR

UNITS SOLD

+283% FROM LAST YEAR

55

104

DAYS ON MARKET

23 UNITS SOLD

6

Lake Tahoe – West Shore

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$3,463,250

+46.9%

$2,357,285

FROM LAST YEAR

MEDIAN PRICE

$1,672,500

+9.7%

$1,525,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

+5%

FROM LAST YEAR

UNITS SOLD

+186% FROM LAST YEAR

84

80

DAYS ON MARKET

20 UNITS SOLD

7

Tahoe Donner

January-March 2021 vs. 2020 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2021

2020

AVERAGE PRICE

$1,302,802

+9.3%

$1,191,666

FROM LAST YEAR

MEDIAN PRICE

$1,287,500

+12%

$1,150,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2021

2020

DAYS ON MARKET

-85%

FROM LAST YEAR

UNITS SOLD

+267% FROM LAST YEAR

18

123

DAYS ON MARKET

22 UNITS SOLD

6

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

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

NORTHSTAR 530.562.1140 SOMERSETT 775.746.7222

MONTRÊUX 775.849.9444

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