Truckee/Tahoe Luxury Trends Newsletter - 4th Quarter 2017

Page 1

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.

SPARKS 775.685.8800


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