2022 Lake Tahoe Fall-Winter Luxury Real Estate Report - DONOVAN GROUP LUXURY TEAM

Chase

Following the bustle of summer activity in the Lake Tahoe region, fall arrived with warm temperatures and the most beautiful colors we’ve seen in years. Now focus turns to winter and what to expect from the snow gods. Predictions say we’ll have a winter like last year; the squirrels are saying otherwise as they store an amazing amount of food, evidenced by stripped pine cones covering the ground everywhere.

In spite of a slowing market, our mountain spirit continues to attract those looking for a tranquil and safe living environment. This pause in the market allows all of us to reassess our needs and desires. Whether looking for a new luxury resort development on a grand scale or a cabin in the woods, choices are greater today than in the last two years.

A fundamental shift in the role redevelopment plays in restoring Lake Tahoe combined with the power of human-centric architecture are driving the revitalization of aging buildings throughout the scenic corridor. The Tahoe Biltmore is being reimagined into a new 5-star experience that will transform Crystal Bay while reducing up to fifteen tons of sediment runoff into Lake Tahoe annually. The Tahoe City Lodge, the first new resort development in Tahoe City in over 50 years, already has nearly 200 reservations for 65 resort condominiums. In Incline, Nine47 Tahoe is one to watch, with 40 new modern mountain luxury condominiums set to break ground in Spring 2023. Clear Creek Tahoe continues to be Tahoe’s most exciting mountain community, with over 300 sold or pending homesites in the past five years and a fresh wave of new homes ready to hit the market. Carson Valley’s Freedom Ranch offers wide-open spaces and spectacular Sierra views with plenty of options for building your dream home.

There is always a place to love at Lake Tahoe. Amazing properties continue to emerge with Crystal Pointe’s magnificence ever so present on the Nevada Shore. Crystal Cove Coast offers newly constructed waterfronts with the latest bells and whistles, East Shore privacy is still a huge draw, while South Lake Tahoe is a recreation haven. Truckee consistently appears on the top ski town lists. Reno is clearly a great option with something for everyone.

The Donovan Group Luxury Team specialize in finding new and creative ways to make magic for you. With our global connections, it’s easy to make your dreams come true! Discover how we can assist you wherever you are or want to be!

Kerry Donovan

Megan Parr Warren

Kevin Donovan

luxury Insights

LAKE TAHOE

In the third quarter of 2022, the Lake Tahoe luxury market normalized at a brisk pace. External factors, including higher interest rates, stock market volatility, the war in Ukraine, and inflation, have caught up to the real estate market. However, the good news is the market is still above pre-pandemic levels around Lake Tahoe. At the end of 2019, The median price of a home was $660,000. By the end of Q3 in 2022, the median price increased by 41%, up to $930,000. The major contributing factor is our region's continued lack of inventory. Until inventories change, we believe the values will hold.

In 2021, 401 single-family homes over $1 million were sold compared to 566 last year, a decrease of 41%. The East Shore had the most significant reduction of 43%, followed by Incline Village at 34%, the North and West Shores at 30%, and South Lake Tahoe at 12%.

We are now seeing a return to a "normal" market in the Lake Tahoe luxury arena. Eight homes have sold for over $10 million this year, with three over $20 million. Chase International listed and sold three of the top five sales around the lake, including the top sale of $40,259,500 for an off-market lakefront in Sunnyside, followed by a $32,000,000 lakefront on the East Shore which represented both the buyer and the seller.

Lakefront sales stayed flat in the South Lake Tahoe market with three sales, Incline Village is down by 80% with only one sale, North and West Shores are both down by 48% with 11 sales, and the East Shore is down by 69% with four sales. Because of the low number of units sold, the median prices are down by 55% in Incline Village, 41% in South Shore, and 36% on North and West Shore. The East Shore median price was up 10%.

TRUCKEE

Truckee was relatively flat, with a four percent decrease in volume, six percent in units sold, and a two percent decrease in median price. Martis Camp continues to be the most affluent area in the Truckee market with record-breaking sales, the highest-priced home this year selling for $14,400,000, up from $12,950,000 the year before.

RENO-SPARKS

Reno-Sparks has fared well, with an increase of two percent in luxury homes sold, a one percent decrease in volume, and a four percent decrease in median price. Due to a robust economic environment, luxury home demands continue to escalate in this primary home market. The most expensive home sold for $6,900,000 in Montreux

CARSON VALLEY

Carson Valley tracked similarly to the Reno-Sparks market, with an increase of three percent in luxury homes sold, a three percent decrease in volume, and a three percent decrease in median price. The highest price sale in the Carson Valley was $9,650,000, for which Chase represented both buyer and seller.

LAKE ALMANOR

Our newest market area is Lake Almanor which has seen a remarkable increase in sales over the last three years. Fifteen luxury homes sold over $1 million with a median price of $1,250,000. The area continues to be affordable to the luxury buyer, and they are flocking here to purchase a home on one of the most tranquil and beautiful alpine lakes in California. The most expensive home to sell this year was $3,300,000.

SACRAMENTO

The Placer County and Eldorado County areas of the greater Sacramento region are tracking just four percent under last year for homes over $1 million. They had 300 sales of over $1 million compared to 324 the prior year, for a seven percent decrease. However, the median is up a whopping 19%. This year's highestpriced sale in this region was in Loomis for $7,000,000.

East Shore Lake Tahoe

VOLUME

$175,542,000 2021: $317,200,200

South Lake Tahoe

VOLUME 2022: $208,352,611 2021: $219,434,680

2022:

2021:

MEDIAN

$1,840,000 2021: $1,900,000

$284,951,775 2021: $420,259,675

2022:

2021:

$1,349,500 2021: $1,375,000

VOLUME

$361,202,388

$562,047,303

2022:

2021:

MEDIAN PRICE 2022: $1,571,000 2021: $1,600,000

$910,808,150

$951,953,200

2021:

$2,582,500 2021: $2,175,000

$1,610,000 2021: $1,650,000

Properties Sold Over

Million

Reno/Sparks

VOLUME 2022: $719,760,050 2021: $729,767,455

Carson City

VOLUME 2022: $25,565,080 2021: $31,940,601

Carson Valley

VOLUME 2022: $144,629,682 2021: $148,775,015

UNITS 2022: 455 2021: 448

MEDIAN PRICE 2022: $1,350,000 2021: $1,399,500

County

VOLUME 2022: $430,209,895 2021: $449,929,691

UNITS 2022:

2021:

MEDIAN PRICE 2022: $1,270,000 2021: $1,195,000

2022: 79 2021: 77

MEDIAN PRICE 2022: $1,450,000 2021: $1,500,000

UNITS 2022: 300 2021:

Lake Almanor

VOLUME 2022: $24,770,000 2021: $$27,258,875

UNITS 2022:

2021:

MEDIAN PRICE 2022: $2,582,500 2021: $2,175,000

MEDIAN PRICE 2022: $1,250,000 2021: $1,477,205

$5,550,000

10.10.2021

The luxury leader

Chase continues to lead the luxury real estate market, selling more homes over $5, $10 and $20 million year after year. In 2021 we're proud to have sold $2.6 billion in real estate, serving 2,899 families and individuals.

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 real estate professionals for the success we have enjoyed for 37 years.

Crystal Pointe Tahoe

Built with creativity, ingenuity and love, Crystal Pointe is an epic lakefront masterpiece cradling the contour of the land on 5.14 private acres on two lakefront parcels. 525’ of lakefront, four buoys, a newly acquired pier permit scheduled for construction in 2023, and 16,232 total square feet of living space. The property includes a primary residence, guest house and beach house, all located in tax-friendly Nevada.

Exclusively offered at $64,500,000 Crystal Pointe Luxury Team | 775 750 2190 crystalpointetahoe.com

Crystal Coast

61 Somers Loop, is located on Lake Tahoe’s Crystal Coastline in Crystal Bay, Nevada. This massive lakefront acreage is one of the last, great untouched swathes of land and includes one of Tahoe’s most prominent points. Throughout the 5.61 pristine acres on Lake Tahoe’s Crystal Coastline lies the opportunity to build your Nevada legacy estate compound that includes 1690 feet +/- of unrivaled shoreline. Its 360 degrees of top-of-the-world views are just the beginning of this paradise, found.

Exclusively offered at $24,800,000 Donovan Group Luxury Team | 775 750 2190 crystalcoasttahoe.com

Gonowabie

Presidio Vista Properties, developer responsible for 20 and 24 Crystal Dr., have created this 5,636 sq. ft. 5 bedrooms/ 7 baths masterpiece. Indoor, outdoor living is the theme for enjoying everyday with the ever changing Tahoe palette of colors & beauty of the Sierra. Quiet flexible spaces offer versatility for your lifestyle. Ro Rockett Design Architects have created a stunning modern interpretation of the classic lake cabin. The home encompasses three private and versatile living quarters connected by full-length vista glass bridges.

Exclusively offered at $28,850,000 Donovan Group Luxury Team | 775 750 2190 480Gonowabietahoe.com

Tahoe’s most exciting mountain community

2,136 acres of prime mountain real estate surrounded by the six million acres of the largest national forest complete with extensive amenities, world-class golf and an iconic lake house on stunning Lake Tahoe.

Homesites from $650,000 | Luxury homes from $4,895,000 |

TAHOE LUXURY

RESOR T & RESIDENCE S

level of Lake

world-class

an

The next generation of Tahoe City 65 luxury resort condominiums with stunning lake and mountain views. Thoughtful details seamlessly blend mountain modern design with an effortless lock-and-leave lifestyle.

Donovan Group

Finest Sales Accomplishments

Coast North 44 Somers Loop, 2021

Star, 2016

Acres Estate, 2022

$32,500,000 885/887 Lakeshore, 2021

$24,850,000 20 Crystal Drive, 2020

$16,900,000 1165 Lakeshore, 2020

$11,500,000 795 Ida Court, 2021

Shoreline Circle,

Cone

$10,500,000 Timberlake Lodge, 2003 $8,985,000 1637/1645 Pine Cone, 2009

$8,000,000 908 Lakeshore, 2019

230 Estates, 2020

$6,200,000 517 CrossBow, 2020

$5,750,000 1565 Vivian Lane, 2017

$4,500,000 776 Tyner, 2020

Donovan Group

Finest Sales Accomplishments

$25,500,000 The Osprey Estate, 2012

$24,500,000 947 Lakeshore, 2019

$13,950,000 Champagne Estate, 2007

$11,300,000 1169 Lakeshore, 2010

$10,000,000 460/470/480 Gonowabie, 2018

$8,500,000 1675 Pine Cone Circle, 2013

$8,000,000 732 Lakeshore, 2021

$6,900,000 575 Fairview, 2020

$6,050,000 580/590 Lakeshore, 2020

$5,664,000 545 Eagle, 2020

$4,500,000

Ponderosa Ave, 2022

$25,370,594 24 Crystal Drive, 2021

$19,750,000 Stonegate Estate, 2013

$13,500,000 55 Shoreline Circle, 2018

$10,900,000 678 Lakeshore, 2020 $9,800,000 947 Lakeshore, 2007

$8,500,000 1655 Pine Cone Circle, 2013

$7,400,000 1665 Pine Cone Circle, 2013

$6,800,000 757 Champagne, 2021

$5,950,000 1143 Lakeshore, 2013

$5,350,000 444 Kent Way, 2016

$4,350,000 570 Vivian, 2013

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 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 GROUP

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.

Donovan Group Luxury Team

INCLINE VILLAGE SALES VOLUME LEADERS YEAR AFTER YEAR

Representing over one billion dollars in sales, we are honored to represent the most distinguished clientele and their properties within a community that we are proud to call ‘home.” Throughout the decades, our preeminent clients have continued to trust our intuitiveness to their needs and respect for their investments. Today, as leaders in the sale of the markets’ most luxurious estates, and consistent top producers, we continue our honor-bound commitment to apply our global marketing expertise on our clients’ best behalf. As a family team, we pack a powerful punch. From our local market knowledge to our Bay Area background (and U.C. Berkley alumni contacts), we take great pride in engaging our connections to ensure the most rewarding and seamless transactions for all involved. Kevin is a TahoeReno local with sales acumen. Growing up in Incline Village and graduated from the University of Nevada Reno. All combined, we look forward to sharing our passion for our community and commitment to our clients who seek a real estate team with a zest for success.

Kerry Donovan

Vice President of Luxury

Donovan Group Luxury Team

NV Broker Salesperson

CRS CLHMS | NV LIC # BS 52696 kdonovan@chaseinternational.com

775 750 2190

Megan Parr Warren

Luxury Sales Specialist

Donovan Group Luxury Team NV Broker Salesperson

CRS CLHMS | NV LIC # BS 143530 mwarren@chaseinternational.com 775 303 2672

Kevin Donovan Luxury Sales Specialist

Donovan Group Luxury Team REALTOR

NV LIC S 0194609 kevindonovan@chaseinternational.com 775 750 7339

Kerry Donovan Megan Parr Warren

Kevin Donovan