LUXURY
REAL ESTATE MARKET REPORT FALL-WINTER 2020 DONOVAN LUXURY GROUP | 775 750 2190
2020 LUXURY REAL ESTATE MARKET REPORT
Contents Welcome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Luxury Insights
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2020 Q3 Luxury & Lakefront Statistics Significant Sales . . . . . . . . . . . . . . . . . . . . .
6-9 10-13
Chase Luxury Statistics . . . . . . . . . . . . . . . . . 14-18 Featured Luxury Listings . . . . . . . . . . . Luxury Partnerships About Chase International
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CHASEI NT ERN AT IO NAL.CO M
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welcome Chase life—joy, health, success The extraordinary influx of home buyers to our region gives us the opportunity to deepen our appreciation of where we live. The onset of COVID 19 changed the way people value their lives. People are leaving urban areas and heading our way to embrace our healthy lifestyle and discover Mother Nature's divine secrets. The vibrant growth, exciting economic opportunities and peaceful essence has brought about the most expansive real estate market in history. Some would say, “off the Richter scale.” Lake Tahoe is booming even if inventory is low. Properties are flying off the shelf as buyers are excited to start a new way of living. The trails are welcoming hikers and bikers like
never before. Exercise has taken off to new levels and the young and old are enjoying what we are all about. Creativity has hit new levels of joy with less distraction. The new trend of outdoor dining and take-out, along with social distancing and respect for our neighbors is a new way of living. Home building is at an all-time record at Clear Creek Tahoe, Reno is emerging as one of the best places to live and Truckee offers a special Western charm. The Carson Valley continues to remain a solid bet with wide-open spaces, sprawling ranches, and spectacular Sierra views.
DONOVAN GROUP LUXURY TEAM NV BROKER SALESPERSONS, CRS, CLHMS
775 750 2190 775 303 2672 donovangroup@chaseinternational.com inclinevillagelife.com NV LIC# BS.52696 BS.143530 BS.143538
Kerry Donovan
Megan Parr Warren
Q3
luxury insights
Lake Tahoe
Truckee
Now that Q3 is in the books, it’s time to take a closer look at how the luxury real estate market is performing in 2020. WOW, is the response! The market has been explosive in properties sold over $1 million for a total of 497 units. Leading the way, West and North Shore, CA witnessed a whopping 87% increase in properties over $1 million, followed by East Shore, NV which recorded a staggering 72% with Incline Village a close 71% increase. South Lake Tahoe was up 66%.
Truckee saw 323 properties sell over $1 million, up an astounding 84% from this time last year. The median price in Truckee was $1,695,000 in the luxury arena. Martis Camp continues to be the most affluent area in the Truckee market.
These numbers are historic because, as of June 2020, the entire market was down across the board. These gains all came in a three-month period. We have not seen such a vigorous market swing in a short period of time in recent history. The top sale in 2020 so far was a lakefront on the East Shore that sold for $38,000,000. Leading the lakefront sales was the North and West Shore with 18 through Q3 versus 11 in 2019. Incline had 11 lakefront sales in 2020 versus 3 in 2019 and East Shore was 9 verses 6. South Shore saw a robust lakefront market with 10 sales compared to 2 in 2019.
Reno-Sparks Reno-Sparks increased through Q3 in 2020, with a 21% increase in homes sold over $1 million, representing 207 versus 171 in 2019. The highest priced home in Reno-Sparks sold for $5,200,000 ($250,000 over list price). Only two other homes have sold higher than $5.2 million in history.
Carson Valley Carson Valley has seen the most tremendous growth through Q3 in 2020 with a 133% increase of units sold over $1 million. 35 homes so far in 2020 over a million versus 15 in 2019. The highest priced property sold in the Carson Valley was $12 million with the second at $6,950,000.
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2020 LUXURY REAL ESTATE MARKET REPORT
Properties sold over $1 million END OF Q3 2020 VS 2019
p 176%
p 22%
glenbrook, nevada
VOLUME 2020: $276,000,522 2019: $100,028,600
p 72%
South Lake Tahoe
p 70%
p 66%
p 6%
p 44%
p 87%
p 3%
p 96%
p 71%
p 14%
p 88%
p 84%
p 5%
p 19%
p 21%
q -2%
p 180%
p 133%
q -7%
East Shore Lake Tahoe from stateline north to
california
West/North Shore california
Incline Village nevada
Truckee
northstar, squaw valley
and alpine ski areas, california
Reno/Sparks nevada
Carson Valley nevada
VOLUME 2020: $142,410,807 2019: $83,885,850
VOLUME 2020: $260,311,519 2019: $180,581,000
VOLUME 2020: $582,412,876 2019: $297,377,208
VOLUME 2020: $721,118,632 2019: $382,763,935
VOLUME 2020: $309,103,243 2019: $259,618,151
VOLUME 2020: $67,725,979 2019: $24,150,000
UNITS 2020: 81 2019: 47
UNITS 2020: 83 2019: 50
UNITS 2020: 112 2019: 60
UNITS 2020: 221 2019: 129
UNITS 2020: 323 2019: 176
UNITS 2020: 207 2019: 171
UNITS 2020: 35 2019: 15
MEDIAN PRICE 2020: $1,950,000 2019: $1,600,000
MEDIAN PRICE 2020: $1,300,000 2019: $1,227,500
MEDIAN PRICE 2020: $1,630,000 2019: $1,575,000
MEDIAN PRICE 2020: $2,635,352 2019: $2,305,250
MEDIAN PRICE 2020: $1,695,000 2019: $1,607,500
MEDIAN PRICE 2020: $1,325,000 2019: $1,350,000
MEDIAN PRICE 2020: $1,275,000 2019: $1,365,000
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 10/5/2020.
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Tahoe Lakefront Sales SINGLE FAMILY RESIDENTIAL HOMES END OF Q3 2020 VS 2019
MEDIAN PRICE $15M +20% -10% +22%
$10M
-39%
76%
$5M -18%
-47% -48%
$0 EAST SHORE
SOUTH SHORE
NORTH & WEST
INCLINE VILLAGE
$8,000,000 $4,550,000 2020 2019
$3,685,000 $6,925,000 2020 2019
$4,483,500 $5,475,000 2020 2019
$9,100,000 $15,000,000 2020 2019
VOLUME SOLD $150M
$100M
140%
298%
$75M
-8% +105%
$50M 322%
$25M
$0 EAST SHORE $114,525,000 $28,745,000 2020 2019
SOUTH SHORE $34,005,000 2020
$8,050,000 2019
NORTH & WEST
INCLINE VILLAGE
$95,360,416 $104,140,000 2020 2019
$127,598,000 $53,250,000 2020 2019
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 10/5/2020.
2019 LUXURY MARKET REPORT
Tahoe Lakefront Sales SINGLE FAMILY RESIDENTIAL HOMES END OF Q3 2020 VS 20198
EAST SHORE
2020
2019
Change
Volume
$114,525,000
$28,745,000
298%
Units
9
6
50%
Median Price
$8,000,000
$4,550,000
76%
Average Price
$12,725,000
$4,790,833
166%
SOUTH SHORE
2020
2019
Change
Volume
$34,005,000
$8,050,000
322%
Units
10
2
400%
Median Price
$3,685,000
$6,925,000
-47%
Average Price
$3,405,000
$6,925,000
-51%
NORTH & WEST SHORE
2020
Volume
2019
Change
$95,360,416
$104,140,000
-8%
Units
18
11
64%
Median Price
$4,483,500
$5,475,000
-18%
Average Price
$5,297,800
$9,467,272
-44%
INCLINE & CRYSTAL BAY
2020
2019
Change
Volume
$127,598,000
$53,250,000
140%
Units
11
3
267%
Median Price
$9,100,000
$15,000,000
-39%
Average Price
$11,599,818
$17,750,008
-35%
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 10/5/2020.
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Donovan Group Significant Sales LUXURY SALES HIGHLIGHTS
Incline Village, Nevada
$24,850,000
Seller & Buyer Representation
Incline Village, Nevada
Incline Village, Nevada
$24,500,000
Buyer & Seller Representation
$11,500,000
Seller Representation
I NC L INEVILLAGELIFE.COM | 775 750 2 19 0
Incline Village, Nevada Seller Representation
$16,900,000
Donovan Group Significant Sales LUXURY SALES HIGHLIGHTS
East Shore, Nevada
$10,900,000
Seller & Buyer Representation
Incline Village, Nevada Buyer Representation
Incline Village, Nevada
$8,000,000
Buyer & Seller Representation
$6,900,000
Crystal Bay
$6,300,000
Seller & Buyer Representation
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Significant New Home Sales LUXURY SALES HIGHLIGHTS
200 SOLD OR PENDING HOMESITES HOMESITES FROM $380,000 | LUXURY HOMES FROM $2,700,000
27 SOLD RANGING FROM $950,00 TO $2,125,000
I NC L INEVILLAGELIFE.COM | 775 750 2 19 0
Significant New Home Sales LUXURY SALES HIGHLIGHTS
SOLD OUT 9 LAKEFRONT CONDOMINIUMS
SOLD OUT 11 LUXURY MONTRÊUX RESIDENCES
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INDIGO RUN | DONNA SPEAR | $3,500,000
The
luxury leader.
Chase continues to lead the luxury real estate market, selling more homes over $5, $10 and $20 million, year after year after year. We are proud to have sold almost $1.5 billion worth of property in 2019 and on track to sell over $2 billion in 2020. With a history of unparalleled success, in 1996 and 1998, when the highest-priced property sold in New York City was $12 million, Chase negotiated record-breaking sales of $50 million and $30 million, unheard of in the nation at that time. We held that record nationwide for eight years. Bolstered by our luxury heritage and strength of character, Chase Sales Executives excel at innovation, creativity and negotiation, bringing about a happy and productive result for each client. We are grateful to our loyal clientele, our talented colleagues and our dedicated Chase Sales Executives for the success we have enjoyed for 34 years.
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Properties sold over $5 million NUMBER OF TRANSACTIONS SOLD, TOP SIX COMPANIES
200 180 160 140 120 100 80 60 40 20 0
207
80
79
72
45
36
Sierra Sotheby’s
Oliver Luxury Real Estate
Coldwell Banker IV/ZC
Tahoe Luxury Properties
Lakeshore Realty
Information gathered from MLS and County records. Transactions since 1989 through 10/5/2020.
The
luxury leader.
Properties sold over $10 million NUMBER OF TRANSACTIONS SOLD, TOP SIX COMPANIES 60
50
40
30
20
10
0
66
27
25
17
16
12
Oliver Luxury Real Estate
Sierra Sotheby’s
Lakeshore Realty
Coldwell Banker IV/ZC
Tahoe Luxury Properties
Information gathered from MLS and County records. Transactions since 1989 through 10/5/2020.
The
luxury leader.
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Properties sold over $20 million NUMBER OF TRANSACTIONS SOLD, TOP FIVE COMPANIES 22 20 18 16 14 12 10 8 6 4 2 0 22
10
6
4
3
Sierra Sotheby’s
Oliver Luxury Real Estate
Lakeshore Realty
Tahoe Luxury Properties
Information gathered from MLS and County records. Transactions since 1989 through 10/5/2020.
The
luxury leader.
Exclusive Luxury Listings A COLLECTION OF OUR CURRENT PROPERTIES
COVERDALE ESTATE - $7,650,000
X - $X
Incline Village, Nevada | Donovan Group | 775 750 2190
Incline Village, Nevada | Donovan Group | 775 750 2190
X - X0
X - $X
Incline Village, Nevada | Donovan Group | 775 750 2190
Incline Village, Nevada | Donovan Group | 775 750 2190
X- X
X - X
Incline Village, Nevada | Donovan Group | 775 750 2190
Incline Village, Nevada | Donovan Group | 775 750 2190
I NC L INEVILLAGELIFE .COM | 775 750 2 19 0
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24 Crystal Drive Cutting edge luxury lakefront Offered At $22,950,000 The Donovan Group
|
775 750 2190
|
24crystaldrivetahoe.com
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Coverdale Estate Gated estate on over 1 acre with panoramic lake views Offered At $7,650,000 The Donovan Group
|
775 750 2190
|
coverdaleestatelaketahoe.com
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OWN IT.
Zalanta The ultimate Lake Tahoe experience Luxury condos just steps from the Heavenly Gondola from $995,000. Mike Dunn
|
775 901 6633
|
zalanta.com
Tahoe's Newest Mountain and Lake Community
Clear Creek Tahoe Intimate. Private. Spacious.
INTIMATE. PRIVATE. SPACIOUS.
Homesites from $360,000 Homes starting at $2,700,000 Georgia Chase
|
775 636 3085
Clear Creek HOMESITES FROM $360,000
|
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C L E A R C R E E K TA H O E
clearcreektahoe.com
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Our partnerships take your property into every global market. Chase International is connected to 550+ top-tier independent real estate brokerages, from the San Francisco Bay Area to New York City and beyond, spanning 60 countries on six continents around the globe, including our London office. Through this partnership we reach over 120,000 real estate agents, who represent more $1M+ properties than any other real estate company in the world. Together we close over $500 billion in annual sales, with one of our transactions closing every 15 minutes.
WHO’S WHO IN LUXURY REAL ESTATE A worldwide collection of top brokers representing the finest luxury properties across the globe, Who’s Who in Luxury Real Estate has been leading the real estate industry since 1986. This hand-selected group of more than 130,000 professionals with properties in more than 70 countries collectively sells over $300 billion of real estate annually, making it the most elite and comprehensive luxury real estate network in the world.
LUXURY PORTFOLIO INTERNATIONAL Luxury Portfolio International® is the luxury face of Leading Real Estate Companies of the World® the largest global network of premier locally branded companies dominated by many of the world's most powerful independent luxury brokerages.
LEADING REAL ESTATE COMPANIES OF THE WORLD Through this premier International magazine for luxury estates, Chase features its prestigious properties twice a year to target affluent clients. Its circulation includes an exclusive distribution to each member’s private database, and to the world’s premier hotels, international airports and bookstores.
MAYFAIR INTERNATIONAL REALTY We have expanded our London office to include United Kingdom’s Mayfair International Realty in response to the increased traffic of overseas buyers. By doing so, we have further provided a marketing and sales platform for our properties to European investors. Mayfair International connects to 125 real estate brokerages with 350 offices, each with a stellar reputation in their respective countries. Country Life uploads all Chase properties over $1 million to their magazine website, Countrylife.co.uk. Country Life has been a national institution in the U.K. for over 100 years; a copy is hand-delivered to the Royal Family each week. Mayfair provides advertising and public relations opportunities to ensure maximum exposure for Chase International listings.
LEADING ESTATES OF THE WORLD Through this premier International magazine for luxury estates, Chase features its prestigious properties twice a year to target affluent clients. Its circulation includes an exclusive distribution to each member’s private database, and to the world’s premier hotels, international airports and bookstores. ARTISAN
GRO UP
ARTISAN GROUP The Artisan Group is a strategic alliance of high image real estate companies reaching from the greater San Francisco Bay area to Lake Tahoe. Chase clients benefit from this prestigious group’s network of professional luxury real estate brokers. Through this alliance, Chase is able to connect with qualified buyers in our major feeder markets.
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ONE COMPANY.
ONE HEART. ONE PHILOSOPHY
ON TRACK TO SELL OVER $2B IN ANNUAL SALES FOR 2020. Chase International is one of the nation’s most successful independent real estate firms specializing in unique and distinctive properties in the Tahoe/Reno region. With more than 380 compassionate and determined REALTORS® in 12 locations, we are committed to our clients' success. We have more qualified luxury professionals and top lakefront specialists with the experience and connections to serve all your needs. We empower people to achieve unlimited possibilities, make magical life decisions, and bring peace and harmony into their lives. This is our secret power. Put the Chase Power of Success to work for you.
THE LEADER IN LUXURY REAL ESTATE
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CHASEINTERNATIONAL.COM
Zephyr Cove | Glenbrook | Incline Village | South Lake Tahoe | Tahoe City | Truckee Reno | Sparks | Carson Valley | Sacramento | Henderson | London
Donovan Group Luxury Sales Team 775 750 2190 donovangroup@chaseinternational.com www.inclinevillagelife.com
Kerry Donovan
Megan Parr Warren
kdonovan@chaseinternational.com
mwarren@chaseinternational.com
775 750 2190
775 303 2672
Š 2020 Chase International. All rights are reserved by Chase International, and content may not be reproduced, downloaded, disseminated, published, or transferred in any form or by any means, except with the prior written permission of Chase International. All information is deemed reliable but is not guaranteed accurate.
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