Luxury Trends Truckee/Tahoe 3rd Quarter 2020

Luxury Trends 3rd Quarter 2020 Tahoe/Truckee Market Report

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

8336 Valhalla Drive Martis Camp Photo courtesy © Martis Camp Realty, Inc DicksonLuxury.com

COVER PROPERTY FEATURED

WELCOME TO OUR 3RD QUARTER 2020

8336 VALHALLA DRIVE MARTIS CAMP $6,410,000

LUXURY HOME MARKET REPORT

MLS# 20202535

The COVID-19 pandemic has caused a dramatic realignment for so many in our country and we are no exception. The ability to work remotely now and for the foreseeable future has created a shift in the buyer profile and demand who are choosing to now call the Truckee-Tahoe area their haven.

What a difference a year makes! Sales of homes over $1MM from January through September 30th totaled 435, an increase of 83%. Home sales in Truckee rose from 159 in 2019 to 292 in 2020, an increase of 84%. The Alpine/Squaw and Lake Tahoe home sales in 2019 were 79 compared to 143 in 2020, an increase of 81%.

Inventory for luxury homes remains low with only 155 currently available. We expect the market will continue to see robust activity at least through the end of the year and likely through the middle of next year. Although sellers would typically be thinking of waiting to sell until after the upcoming winter season, many are awestruck by the prices that we have helped them get by selling now in such a hot market, and buyers are not shying away from getting in at thousands to as much as hundreds of thousands of dollars over asking prices.

We hope you find the information useful 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 whether you are buying or selling.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January - september 2020 compared to January - september 2019

+83%

-5.5%

0%

-13%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2020: 435 2019: 238

2020: $2,256,161 2019: $2,387,688

2020: $685 2019: $683

2020: 88 2019: 101

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of October 8, 2020

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

Alpine Meadows NUMBER OF SALES

292 $2,300,521 $11,000,000

AVERAGE SALES $ HIGHEST SALE $

$1,505,800

AVERAGE SALES $

HIGHEST SALE $

$2,390,000

HIGHEST SALE $

NUMBER OF SALES

$2,249,850

AVERAGE SALES $

$9,500,000

7%

HIGHEST SALE $

$3,000,000– $4,999,999

11%

$1,609,128 $2,550,000

45 $2,434,922 $8,750,000

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

$1,000,000– $1,999,999

63%

26

West Shore, Lake Tahoe, CA

67

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

NUMBER OF SALES

5

AVERAGE SALES $

North Shore, Lake Tahoe, CA NUMBER OF SALES

Squaw Valley

12%

$1,000,000– $1,999,999

54%

$3,000,000– $4,999,999

16%

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

18%

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

19% $1,000,000– 275 Sold Listings $1,999,999 $1,400,526 Average Price

$1,000,000– 83 Active Listings $1,999,999 $1,511,321 Average Price

$2,000,000– 80 Sold Listings $2,999,999 $2,426,267 Average Price

$2,000,000– 29 Active Listings $2,999,999 $2,548,583 Average Price

$3,000,000– 49 Sold Listings $4,999,999 $3,824,840 Average Price

$3,000,000– 25 Active Listings $4,999,999 $3,844,440 Average Price

$5,000,000 31 Sold Listings and higher $6,927,959 Average Price

$5,000,000 18 Active Listings and higher $11,829,722 Average Price

75 Average Days On Market

80 Average Days On Market

143 Average Days On Market

106Average Days On Market

81 Average Days On Market

64 Average Days On Market

92 Average Days On Market

72 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of October 8, 2020

Recent Dickson Sales

Photo courtesy Š Martis Camp Realty, Inc

$6,410,000

Buyer Representation by Dickson Realty

$3,200,000

Buyer Representation by Dickson Realty

$2,625,000

Buyer Representation by Dickson Realty

Martis Camp

Northstar

Schaffer's Mill

$3,295,000

Schaffer's Mill

Seller Representation by Dickson Realty

$2,650,000

Buyer Representaion by Dickson Realty

$2,600,000

Seller Representation by Dickson Realty

Lahontan

Tahoe Donner

Recent Dickson Sales

$2,000,000

Seller Representation by Dickson Realty

$1,585,000

Seller Representation by Dickson Realty

$1,300,000

Buyer & Seller Representation by Dickson Realty

Truckee River

Tahoe Donner

Northstar

$1,730,000

Buyer Representation by Dickson Realty

$1,550,000

Buyer & Seller Representation by Dickson Realty

$1,270,000

Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Martiswoods Estates

Recent Dickson Sales

$1,200,000

Seller Representation by Dickson Realty

$1,185,000

Buyer Representation by Dickson Realty

$1,175,000

Buyer Representation by Dickson Realty

Tahoe Donner

Grays Crossing

Tahoe Donner

$1,198,000

Seller Representation by Dickson Realty

$1,185,000

Seller Representation by Dickson Realty

$1,175,000

SellerRepresentation by Dickson Realty

Juniper Hills

Donner Lake

Tahoe Donner

Recent Dickson Sales

$1,150,000

Seller Representation by Dickson Realty

$1,085,000

Buyer Representation by Dickson Realty

$1,005,000

Buyer Representation by Dickson Realty

Cambridge Estates

Tahoe Donner

Prosser Heights

$1,130,000

Buyer Representation by Dickson Realty

$1,049,000

Buyer & Seller Representation by Dickson Realty

$1,005,000

Seller Representation by Dickson Realty

Donner Lake

Tahoe Donner

Sierra Meadows

Current Luxury Listings In Escrow

$2,300,000

1809 Woods Point Way MLS# 20201854

Northstar

$2,200,000

10111 Bunny Hill Road MLS# 20202745

Donner Summit

In Escrow

$2,200,000

1715 Grouse Ridge MLS# 20203230

$1,829,000

284 Basque MLS# 20202632

Northstar

Northstar

$1,995,000

10041 Church Street, MLS# 20201435

$1,825,000

17031 Austin Way MLS# 20202285

Downtown Truckee

Juniper Creek Ranch

Current Luxury Listings In Escrow

$1,675,000

15011 Northwood Blvd. MLS# 20202307

In Escrow

Tahoe Donner

$1,450,000

358 Skidder Trail MLS# 20202314

Northstar

In Escrow

$1,225,000

14521 Tyrol Road MLS# 20202983

Tahoe Donner

$1,150,000

14506 Tyrol Road MLS#20203245

Tahoe Donner

In Escrow

$1,125,000

15284 Wolfgang Road MLS# 20202820

Tahoe Donner

$1,250,000

348 Skidder Trail MLS# 20203233

Northstar

Old Greenwood

January-Setember 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,631,994

-2.3%

$1,670,147

FROM LAST YEAR

MEDIAN PRICE

$1,648,135

-0.5%

$1,656,933

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

+158% FROM LAST YEAR

UNITS SOLD

33%

FROM LAST YEAR

62

24

DAYS ON MARKET

8 UNITS SOLD

6

Gray’s Crossing

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,619,370

+4.1%

$1,555,409

FROM LAST YEAR

MEDIAN PRICE

$1,645,000

+2.8%

$1,600,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

+5%

FROM LAST YEAR

UNITS SOLD

+41%

FROM LAST YEAR

87

83

DAYS ON MARKET

31 UNITS SOLD

22

Lahontan

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price AVERAGE $

2020 2018 2019

AVERAGE PRICE

+3%

$2,790,000 $2,708,000

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+1.4%

$2,812,500 $2,775,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-10%

FROM LAST YEAR

UNITS SOLD

+73%

FROM LAST YEAR

89

99

DAYS ON MARKET

26 UNITS SOLD

15

Schaffer’s Mill

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price AVERAGE $

2020 2018 2019

AVERAGE PRICE

+28.5%

$1,970,743 $1,533,650

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+9.1%

$1,700,000 $1,558,250

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-33%

FROM LAST YEAR

UNITS SOLD

+190% FROM LAST YEAR

85

127

DAYS ON MARKET

29 UNITS SOLD

10

Martis Camp

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$5,324,864

+4%

$5,121,147

FROM LAST YEAR

MEDIAN PRICE

$4,987,500

+1%

$4,937,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-18%

FROM LAST YEAR

UNITS SOLD

+75% FROM LAST YEAR

128

157

DAYS ON MARKET

42

24

UNITS SOLD

Northstar

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,904,880

+4.7%

$1,818,625

FROM LAST YEAR

MEDIAN PRICE

$1,750,000

+6.1%

$1,649,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-38%

FROM LAST YEAR

UNITS SOLD

+88%

FROM LAST YEAR

105

169

DAYS ON MARKET

45

24

UNITS SOLD

Squaw Valley-Alpine Meadows

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,592,462

-10.5%

$1,779,861

FROM LAST YEAR

MEDIAN PRICE

$1,530,000

+3.7%

$1,475,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

+15%

FROM LAST YEAR

UNITS SOLD

+72%

FROM LAST YEAR

152

132

DAYS ON MARKET

31 UNITS SOLD

18

Lake Tahoe – North Shore

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$2,249,850

+15.4%

$1,949,964

FROM LAST YEAR

MEDIAN PRICE

$1,450,000

-3.5%

$1,502,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-38%

FROM LAST YEAR

UNITS SOLD

+139% FROM LAST YEAR

76

123

DAYS ON MARKET

67

28

UNITS SOLD

Lake Tahoe – West Shore

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$2,434,922

-38%

$3,928,242

FROM LAST YEAR

MEDIAN PRICE

$1,750,000

+4.5%

$1,675,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

+57%

FROM LAST YEAR

UNITS SOLD

+65%

FROM LAST YEAR

102

65

DAYS ON MARKET

45

33

UNITS SOLD

Tahoe Donner

January-September 2020 vs. 2019 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2020

2019

AVERAGE PRICE

$1,408,122

+6%

$1,327,938

FROM LAST YEAR

MEDIAN PRICE

$1,295,000

+3.6%

$1,250,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2020

2019

DAYS ON MARKET

-26%

FROM LAST YEAR

UNITS SOLD

+122% FROM LAST YEAR

35

47

DAYS ON MARKET

60

27

UNITS SOLD

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

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

SPARKS 775.685.8800

DicksonLuxury.com | luxury@dicksonrealty.com

© 2020 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.