Luxury Trends 4th Quarter 2017 Tahoe/Truckee Market Report
DicksonLuxury.com
COVER PROPERTY FEATURED:
Welcome
12929 FILLY LANE $1,670,000, MLS#20172492
GREETINGS IN THE NEW YEAR AND WELCOME TO OUR ANNUAL LUXURY HOME MARKET REPORT FOR 2017 Dickson Realty, Truckee, is pleased to present the 2017 Annual Luxury Home Market Report. This 2017 annual report highlights the news and trends of luxury home sales in the region.
sales. However, Martis Camp in Truckee continues to lead the luxury home market sales for highest price point. Martis Camp had a market share of 13% selling 42 homes totaling $188 million in sales.
This year’s snow season has not kicked into full gear yet, so it is the perfect “weather” opportunity for selling or buying a home in the region.
The Luxury Home Market trends follow the general real estate trends experienced throughout the State of California. The California Association of Realtors®, in its 2018 forecast dated October 2017, have predicted the market will continue to make modest gains in 2018 and that sales might rise another 1% and median pricing can increase as much as 4.2%.
The number of homes that sold for $1,000,000 and above numbered 322 which is a 15% positive increase in 2017 versus 2016. While there was a -5%, drop in average sold price, in this price point range that percentage decrease is negligible. The average days on market continued to lessen; in 2016 days on market was 150 days versus 120 days in 2017. With the inventory going down, the time on market is expected to decrease even further in 2018. The total dollar volume of luxury home sales increased by 8% from $641,598,763 in 2016 to $693,669,035 in 2017. Due to inventory being depleted, the active listings on the market are lower than 2016. At year end 2016 listings were at 217 while year-end 2017 the listings stand at 176. North Lake Tahoe, California, led in sales volume selling 55 homes, a market share of 17%, which totaled $106 million in
We hope you find the information we have provided useful in planning your next real estate sale or purchase. Our team of Dickson Realty Luxury Home Specialists is available to provide you with competent expertise in this market area. We will work hard for you to achieve the most positive outcome whether you are buying or selling.
—Broker/Manager, Dickson Realty Truckee
Luxury Home Averages Over $1 Million January-December 2017 vs. 2016
15%
-5%
-4%
-20%
TOTAL UNITS SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2017: 322 2016: 281
2017: $2,188,848 2016: $2,313,991
2017: $649 2016: $675
2017: 120 2016: 150
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- December 31, 2017 as of January 11, 2018.
Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
196 $2,204,371 $8,350,000
Alpine Meadows NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
North Shore, Lake Tahoe, CA NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $
55
9%
NUMBER OF SALES
$1,221,600
AVERAGE SALES $
$1,388,000
$1,923,090
AVERAGE SALES $
$7,000,000
HIGHEST SALE $
$3,000,000– $4,999,999
$1,663,675 $4,250,000
41 $2,840,509 $15,000,000
Sold Listings Over $1 Million $5,000,000 and higher
$1,000,000– $1,999,999
53%
HIGHEST SALE $
20
West Shore, Lake Tahoe, CA NUMBER OF SALES
Active Listings Over $1 Million $5,000,000 and higher
5
Squaw Valley
7%
$1,000,000– $1,999,999
69%
$3,000,000– $4,999,999
14%
20%
$2,000,000$2,999,999
10% $2,000,000$2,999,999
17% $1,000,000– 94 Active Listings $1,999,999 $1,411,733 Average Price
$1,000,000– 223 Sold Listings $1,999,999 $1,341,274 Average Price
$2,000,000– 30 Active Listings $2,999,999 $2,466,216 Average Price
$2,000,000– 31 Sold Listings $2,999,999 $2,438,790 Average Price
$3,000,000– 36 Active Listings $4,999,999 $3,964,500 Average Price
$3,000,000– 45 Sold Listings $4,999,999 $3,782,888 Average Price
$5,000,000 16 Active Listings and higher $9,675,937 Average Price
$5,000,000 23 Sold Listings and higher $6,950,978 Average Price
188 Average Days On Market
194 Average Days On Market
173 Average Days On Market
290 Average Days On Market
111 Average Days On Market
115 Average Days On Market
146 Average Days On Market
122 Average Days On Market
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
Current Dickson Luxury Listings SA LE
$2,600,000
15016 South Shore Drive
$1,147,000
12291 Bennett Flat Road
$1,325,000
13060 Oberwald Way
PE N D IN G
MLS# 20171802
MLS#20173097
MLS#20173237
$1,479,000
11033 Meek Court
MLS# 20171113
SA LE
$1,195,000
14696 Slalom Way
$1,350,000 166 Windsong
PE N D IN G
MLS#20180015
MLS# 20172263
Old Greenwood
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price 2017
2016
AVERAGE $
AVERAGE PRICE
6.5%
$1,514,909 $1,422,500
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
5.1%
$1,495,000 $1,422,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
173%
FROM LAST YEAR
UNITS SOLD
450% FROM LAST YEAR
123
45
DAYS ON MARKET
11 UNITS SOLD
2
Gray’s Crossing
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price 2017
2016
AVERAGE $
AVERAGE PRICE
3.1%
$1,407,417 $1,365,312
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
6.9%
$1,460,000 $1,365,312
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-48%
FROM LAST YEAR
UNITS SOLD
50%
FROM LAST YEAR
66
126
DAYS ON MARKET
24 UNITS SOLD
16
Lahontan
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
AVERAGE $
2017
2016
AVERAGE PRICE
14.0%
$2,310,781 $2,026,854
FROM LAST YEAR
MEDIAN $
MEDIAN PRICE
21.2%
$2,387,500 $1,970,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-16%
FROM LAST YEAR
UNITS SOLD
-33%
FROM LAST YEAR
145
172
DAYS ON MARKET
16
24
UNITS SOLD
Martis Camp
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$4,466,071
3.3%
$4,325,301
FROM LAST YEAR
MEDIAN PRICE
$3,962,500
-0.8%
$3,995,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-10%
FROM LAST YEAR
UNITS SOLD
-14%
FROM LAST YEAR
143
159
DAYS ON MARKET
42
49
UNITS SOLD
Northstar
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,834,310
-11.2%
$2,066,733
FROM LAST YEAR
MEDIAN PRICE
$1,450,000
-20.1%
$1,815,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-21%
FROM LAST YEAR
UNITS SOLD
-3%
FROM LAST YEAR
135
170
DAYS ON MARKET
29
30
UNITS SOLD
Squaw Valley-Alpine Meadows
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,575,200
-12.8%
$1,806,747
FROM LAST YEAR
MEDIAN PRICE
$1,395,000
1.1%
$1,380,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-32%
FROM LAST YEAR
UNITS SOLD
19%
FROM LAST YEAR
179
262
DAYS ON MARKET
25 UNITS SOLD
21
Lake Tahoe – North Shore
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,923,090
-4.6%
$2,016,514
FROM LAST YEAR
MEDIAN PRICE
$1,299,000
-10.1%
$1,445,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
0%
FROM LAST YEAR
UNITS SOLD
62%
FROM LAST YEAR
122
122
DAYS ON MARKET
55
34
UNITS SOLD
Lake Tahoe – West Shore
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$2,840,509
-12.2%
$3,235,585
FROM LAST YEAR
MEDIAN PRICE
$1,688,000
-6%
$1,795,000
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-32%
FROM LAST YEAR
UNITS SOLD
28%
FROM LAST YEAR
113
167
DAYS ON MARKET
41
32
UNITS SOLD
Tahoe Donner
January-December 2017 vs. 2016 Average vs. Median Average vs. Median Price
MEDIAN $
AVERAGE $
2017
2016
AVERAGE PRICE
$1,230,655
7%
$1,149,645
FROM LAST YEAR
MEDIAN PRICE
$1,190,000
3.2%
$1,153,500
FROM LAST YEAR
Average Days on Market vs. Units Sold 2017
2016
DAYS ON MARKET
-10%
FROM LAST YEAR
UNITS SOLD
+16%
FROM LAST YEAR
65
72
DAYS ON MARKET
37
32
UNITS SOLD
TRUCKEE 530.587.7444 DOWNTOWN RENO 775.324.7000
PORTOLA 530.832.1700
CAUGHLIN RANCH 775.746.7000
DONNER LAKE 530.587.4811
DAMONTE RANCH 775.850.7000
NAKOMA 530.322.3320
SOMERSETT 775.746.7222
MONTRÊUX 775.849.9444
DicksonLuxury.com | luxury@dicksonrealty.com
© 2017 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.
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