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
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NORTHSTAR 530.562.1140 SOMERSETT 775.746.7222
MONTRÊUX 775.849.9444
SPARKS 775.685.8800
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