LUXURY
REAL ESTATE MARKET REPORT
FALL WINTER 2024
| TRUCKEE | RENO-SPARKS | CARSON
REAL ESTATE MARKET REPORT
FALL WINTER 2024
| TRUCKEE | RENO-SPARKS | CARSON
Seasons greetings, friends! Lake Tahoe luxury real estate has had an exceptional year, with a significant increase in high-value transactions. This trend reflects the area's enduring appeal and strong investment potential. Inventory shortages across all regions are driving up both average and median property prices, with demand consistently outpacing supply. Until inventory levels rise, property values are expected to remain stable, solidifying Lake Tahoe's reputation as a robust and resilient luxury market.
Culturally, the Tahoe, Reno, and Carson Valley region is flourishing, providing an exceptional lifestyle that is drawing national attention. Reno has recently been named the "Happiest Place to Live," evolving into a cultural and recreational hub with even more to offer. The expansion of the Nevada Museum of Art, funded by Chuck and Stacey Mathewson with a $60 million, 50,000-square-foot addition, will significantly enhance its capacity for educational programs, gallery exhibitions, and research, enriching the region's artistic community. Meanwhile, Incline Village has been recognized as the "Best Small Town in America" by Travel + Leisure, highlighting its charm, natural beauty, and exclusivity. These accolades underscore why the Lake Tahoe and Reno Region is a celebrated destination for luxury living, culture, and recreation.
Our luxury specialists are excited about the future. At Chase, we are embracing a new approach by enhancing our service to include “enlightened hospitality,” with a focus on understanding people's needs. Planning to buy a house in London? We can help! Our services extend well beyond the Northern Nevada and California regions. Discover how we can assist you, no matter where you are or where you want to be.
Luxury wishes,
shari chase founder & ceo chase international
MATHEWSON RIVER ESTATE | OFFERED AT $12,900,000
LISTED BY ANN MUDD & SHARI CHASE | NV S.185326
Cover Reveal
LUXURY
2024 LUXURY & LAKEFRONT STATISTICS
CHASE SIGNIFICANT SALES
CHASE SALES STATISTICS
CHASE LUXURY COLLECTION THE NEW LUXURY LANDSCAPE
CHASE GREEN RIBBON EXPERIENCE
LUXURY
FOR $12,500,000 BY
The luxury market in Lake Tahoe has experienced a significant surge in sales for 2024, punctuated by remarkable recordbreaking transactions. Three properties sold for over $20 million, with Chase International involved in two of these highprofile deals. The standout sale was an impressive $62 million transaction in October, marking the highest price ever recorded in the Tahoe Basin for the former estate of Steve Wynn in Incline Village. Overall, there were 12 sales exceeding $10 million this year, a slight increase from last year’s total of 11. The ongoing shortage of inventory across all regions is driving average and median prices upward compared to 2024. Until inventory levels begin to rise, property values are expected to remain stable.
In comparison to last year, 391 single-family homes priced over $1 million were sold, reflecting a 9% increase from 365 sales in 2024. Incline Village led the way with a 20% increase in volume, significantly boosted by the $62 million and $47.5 million transactions. The North and West Shores reported a 26% increase in volume, while the South Shore saw a 25% rise. In contrast, the East Shore experienced a decline of 9%.
Beyond the landmark $62 million sale, Chase successfully closed on a $47.5 million sale in Incline Village and achieved a record land sale in Glenbrook, Nevada, valued at $30 million. Chase International accounted for two of the three top sales around Lake Tahoe this year.
Lakefront sales have surged notably in all areas except the East Shore, which recorded a 10% decrease with only three sales. The North and West Shores experienced an extraordinary 106% increase in volume, totaling 13 sales. South Lake Tahoe saw a staggering 246% rise in volume with three sales, while Incline Village's volume increased by 87% with three transactions. The median price remained stable, with Incline Village showing an increase of 108%, and the South Lake Tahoe, North Shore, and West Shore regions up 4%. Conversely, the East Shore's median price fell by 2%.
The Truckee market remained relatively stable, with a 5% decrease in volume but a 2% increase in the number of units sold and a 6% rise in the median price. Martis Camp continues to be a standout area, boasting the highest-priced home sale this year at $23.6 million, a significant jump from last year's $13.995 million sale.
Reno-Sparks has seen a notable uptick in luxury sales this year, with a robust 20% increase in both volume and units sold. However, the median price dipped slightly by 1%. The thriving economic environment is contributing to heightened demand for luxury homes in this primary home market, with Montreux witnessing the most expensive sale in 2024 at $7.5 million.
Carson Valley experienced a remarkable 47% increase in volume, primarily driven by a vigorous market at Clear Creek Tahoe, which saw three sales surpassing $10 million. Chase International represented both buyers and sellers in these transactions. The region also enjoyed a 31% rise in units sold and a 7% increase in the median price. Notably, Chase facilitated the highest-priced sale in Carson Valley, closing at $18 million for the historic John Ascuaga's ranch on Jacks Valley Road. This trophy property had multiple offers and sold for $3 million over asking.
As our newest market area, Lake Almanor is being hailed as “the affordable Lake Tahoe.” This region saw an impressive 16% increase in volume, a 17% rise in units sold, and a 2% increase in the median price. The top sale of 2024 reached $3.1 million, with Chase representing the buyer.
The greater Sacramento region, particularly Placer County and El Dorado County, is tracking 9% ahead of 2024 for homes over $1 million, with 855 sales compared to 785 last year. However, the median price has decreased slightly from $1,295,000 in 2023 to $1,265,000 in 2024. The highest-priced sale for this region occurred in Lincoln, fetching $5 million.
HIGHEST PRICED RESIDENTIAL SALE IN NORTHERN NEVADA HISTORY OUTSIDE OF THE TAHOE BASIN SOLD FOR $18,000,000 BY MIKE DUNN & MEGAN LOWE
The historic
also known as
sold for $18,000,000 in 2024, setting a new record in Northern Nevada.
from stateline north to glenbrook, ne vada
South Lake Tahoe california
VOLUME
Incline Village ne vada
VOLUME
West/North Shore california 9%
p 26%
VOLUME
2024: $321,531,690 2023: $255,573,400 p 6% UNITS
PRICE
2024: $146,620,550
2023: $117,545,550
p 20%
VOLUME
2024: $143,528,100 2023: $158,148,484 5%
VOLUME
2024: $687,106,011 2023: $726,991,427 p 25%
2024: $448,580,250 2023: $374,777,057
14% UNITS
2024: 82 2023: 72
p 2% UNITS 2024: 127 2023: 125 19%
$1,520,000
p 9% UNITS
2024: 116 2023: 106
2024: 66 2023: 62 p 2% UNITS
2024: 306 2023: 300
$1,334,125
2%
PRICE
$1,537,500
p 6%
MEDIAN PRICE 2024: $1,475,000 2023: $1,501,000
MEDIAN PRICE
$1,885,000 p 6%
2024: $2,500,000 2023: $2,350,000
PRICE
$1,697,500
$1,595,000 p 15%
City
2024: $783,662,545 2023: $654,364,483
2024: 474 2023: 394
2024: $28,593,000 2023: $17,837,169
21 2023: 15
1%
MEDIAN PRICE
2024: $1,384,947 2023: $1,400,000
16%
PRICE 2024: $1,275,000
Carson Valley
ne vada p 47% VOLUME
2024: $243,605,470 2023: $165,183,155
p 31%
113
86 p 7%
$1,435,000
$1,335,000
Sacramento/Placer/ Eldorado County
Lake Almanor
2024: $1,215,811,441 2023: $1,135,817,337 p 16%
VOLUME
2024: $25,907,000 2023: $22,415,700
2024: 847 2023: 773 p 17%
2024: 14 2023: 12
1% MEDIAN PRICE
$1,265,500
$1,295,000
$1,100,000 p 2% MEDIAN PRICE 2024: $1,732,500 2023: $1,700,000
Incline Village, Nevada $47,500,000
Seller Representation
Buyer & Seller Representation
Glenbrook, Nevada $30,000,000
Buyer Representation
$11,350,000
Buyer & Seller Representation
Carnelian Bay, California $19,500,000
Seller Representation
Seller Representation
Clear Creek Tahoe, Nevada $9,575,000
Buyer & Seller Representation
Brockway Springs, California $8,200,000
Buyer & Seller Representation
Chase continues to dominate the luxury real estate market, consistently selling homes priced over $5 million, $10 million, and $20 million year after year. We take pride in achieving $9 billion in sales over the past four years, assisting more than 10,000 families and individuals in their real estate journeys.
In 2024, Chase International recorded three of the four highest sales in the Lake Tahoe, Reno, and Carson Valley regions, including the highest-priced residential sale in Carson Valley history.
With a legacy of groundbreaking success, we set remarkable records in 1996 and 1998, negotiating sales of $50 million and $30 million when the highest-priced property in New York City was only $12 million—achievements that were unprecedented at the time and held as national records for eight years.
Fueled by our luxury heritage and a strong sense of character, Chase Luxury Sales Executives excel in innovation, creativity, and negotiation, ensuring a positive and productive experience for every client.
Chase International has sold over $831,000,000 in real estate within the gates of Clear Creek Tahoe since 2017.
In 2024, Chase International represented the sale of the historic Jacks Valley Ranch, the highest priced residential sale in Northern Nevada history outside of the Tahoe Basin at $18,000,000.
Since 1995, Chase International sold a record 313 homes over $5 Million. More than double the amount of our closest competitor.
There is only one way to be successful year after year, and that is with the support of our colleagues, our clients, the community and our team of talented REALTORS®.
$60,000,000
Thunderbird Lodge _
USA record residential sale held for 8 years 1998**
$38,500,000 Crystal Pines _
26 acres East Shore lakefront estate 2022**
$35,500,000 Crystal Bay Lakefront
Highest priced Lake Tahoe sale in 2023*
$33,000,000 The Bourne Estate
Highest price Lake Tahoe sale in 2001*
$50,000,000
Incline Village Lakefront _
$49,000,000
Spirit of the Lake
$36,000,000 Lucky Bluff
Celebrity Lakefront in Rubicon Bay 2021*
$35,000,000 The Pines
13 acres East Shore lakefront estate 2020**
$32,500,000 Lakeshore Estate
Incline Village lakefront 2021*
Highest price Lake Tahoe sale in 2022* INFORMATION GATHERED FROM
Highest price sale in 2021*
$35,500,000 Crystal Coast
Highest Lake Tahoe land sale in history*
$34,500,000 Crayfish Cove
Highest price Lake Tahoe sale in 2015*
$30,000,000 Glenbrook Lakefront
Highest price Glenbrook sale in history*
CRYSTAL BAY, NEVADA
Built with creativity, ingenuity and love, Crystal Pointe is an epic Nevada lakefront masterpiece cradling the contour of the land on 5.14 private acres with a new private pier.
Offered at $49,500,000 | Chase Luxury Team | 775 901 6633
crystalpointetahoe.com NV B26719
Chase International presents Shakespeare Ranch Properties, an enclave of rare lakefront and meadow properties nestled within the gates of the iconic Shakespeare Ranch in historic Glenbrook, NV—Lake Tahoe’s only gated lakeside golf course community. This world-class offering provides Buyers an opportunity to purchase a variety of homesites and residences starting at $9,950,000 or the entire Shakespeare Ranch, one of the most extraordinary legacy properties in the world, for $188,000,000.
SHAKESPEARERANCHPROPERTIES.COM
Property Highlights:
130 TOTAL ACRES
425’ OF LAKE FRONTAGE
465’ DEEPWATER PIER
TWO BOAT LIFTS
12 BUOYS
BOATS HOUSE
17 RESIDENCES & CABINS
TWO LAKESIDE CABANAS
This stunning 4.29-acre property on the shore of Lake Tahoe, with over 660 feet of shoreline, an incredible pier and boat house, is truly the jewel of Rubicon.
Offered at $35,000,000 | Trinkie Watson | 530 582 0722 | summercamptahoe.com CA 00326518
GLENBROOK, NEVADA
An extraordinary lakefront retreat with lakeside cabana nestled within the exclusive gates of the iconic Shakespeare Ranch Properties in historic Glenbrook, Nevada.
Offered at $35,000,000 | Chase Luxury Team | 775 690 1444 shakespeareranchproperties.com NV B.26719.CORP
Situated on the south point of Meeks Bay, this stunning property spans 1.22 acres and boasts a 140 foot deep water pier, two buoys, sandy beach and an impressive 300 feet of shoreline.
Offered at $28,000,000 | Sue Lowe 775 690 1444 | Fawne Hayes 530 416 2272 CA 01802170 CA 01491811
Shakespeare on the Lake GLENBROOK, NEVADA
Shakespeare On the Lake is a rare opportunity to own one of three lakefront parcels within the iconic Shakespeare Ranch Properties, located in historic Glenbrook, Nevada.
Offered at $21,000,000 | Chase Luxury Team | 775 690 1444
shakespeareranchproperties.com
NV B.26719.CORP
GLENBROOK, NEVADA
A one-of-a-kind property featuring 1.26 acres with 115 linear ft. of shoreline, a rare single use pier right, boatlift, buoy, with 4 bedrooms, a spacious loft, and 3.5 bathrooms
Offered at $17,500,000 | Star Brooks | 530 318 5818
NV DRE S0044471
EXTRODINARY EXPANSION AND REDEVELOPMENT POTENTIAL
TAHOE VISTA, CALIFORNIA
Unique chance to acquire a family-owned Lake Tahoe property held for nearly 50 years. This resort presents significant expansion and redevelopment potential, including a prime lakefront location with 275 feet of sandy beach and 21 acres across three parcels. Ideally suited for resort expansion, hospitality development, condos, and commercial projects, with ample space for workforce housing and recreational amenities.
$29,500,000 | TAHOELAKEFRONTRESORT.COM
Mike Dunn Group | 775 901 6633 | CA 1916007
SOUTH LAKE TAHOE, CALIFORNIA
Located in the heart of South Lake Tahoe, the iconic Lakeshore Lodge and Spa offers convenient access to Heavenly Ski Resort and the casinos in Stateline, Nevada. Set on 1.7 acres of land with 350 feet of private sandy beach, the lodge boasts breathtaking views of one of the world's most beautiful vacation destinations, featuring panoramic vistas from all 45 rooms.
$18,000,000 | Mike Dunn & Star Brooks | 775 901 6633 CA 1916007 CA BRE 01258760
GENOA, NEVADA
This is a once-in-a-lifetime opportunity to acquire one of the most sought-after properties in Northern Nevada. The Genoa Lakes Golf Club features two championship golf courses with incredible water rights, restaurants, banquet facilities, and wedding venues, all set against the stunning backdrop of the Sierra Nevada Mountains.
$8,950,000 | GENOAGOLF.COM
Mike Dunn Group | 775 901 6633 | NV BS.0144453
In the fast-evolving luxury real estate market, the modern high-end buyer is shaping trends in ways that emphasize a holistic approach to lifestyle, wellness, and personalization. For sellers aiming to attract this discerning audience, it’s essential to recognize the nuanced drivers behind their decisions. Key factors such as location desirability, high levels of customization, technological innovation, and a commitment to lifestyle enhancement have risen to the forefront. As high-net-worth individuals seek homes that blend comfort, privacy, and premium amenities, sellers have a unique opportunity to align with these trends to create appeal, whether in resort areas, private communities, or lakeside escapes. Understanding these preferences can be the differentiator in today’s competitive luxury landscape.
The 2025 luxury real estate landscape will be characterized by innovative technologies, tailored living environments, and wellnessdriven amenities. This trend reflects a broader desire for a holistic lifestyle where luxury embodies not just opulence, but also a commitment to well-being."
TYLER ST. PIERRE VICE PRESIDENT OF LUXURY MARKETING
Today's luxury buyers are increasingly drawn to homes that offer an oasis of privacy, ample space, and a lifestyle rich in amenities. Their top priorities include close proximity to nature, high-quality living environments, and access to exclusive services, such as golf courses and lake amenities. This shift has underscored the demand for spacious, multifunctional residences that blend elegance with practical living.
Additionally, the non-urban luxury market is witnessing a significant transformation, with affluent individuals gravitating towards suburban, rural, and resort regions such as lakeside retreats, mountain escapes, and serene countryside locales. These buyers prioritize tranquility, privacy, and stunning landscapes, seeking properties that not only exude luxury but also provide a refreshing departure from urban life. This trend underscores a collective yearning for balance and serenity in idyllic, remote settings.
While the desire for space and seclusion prevails, luxury buyers still seek proximity to upscale amenities like fine dining, shopping, golf courses, and cultural attractions.
Today's luxury clientele demands personalized living spaces that feature bespoke elements, from unique layouts to premium materials such as exotic stones and hardwoods. Custom amenities—including unique wine cellars, home theaters, and hobby spaces—reflect individual tastes and lifestyle needs.
High-end kitchens and bathrooms rank among the top priorities for these buyers. These spaces often showcase state-of-the-art appliances, bespoke cabinetry, and spa-inspired features such as steam showers, soaking tubs, and heated floors.
Many elite homes also incorporate recreational facilities like golf simulators, fitness centers, and bars, specifically designed for entertainment at home. These areas are often tailored to personal preferences, with options such as pickleball courts, and unique wine cellars.
Affluent buyers expect cutting-edge smart home technologies that integrate lighting, security, and entertainment features. These systems enhance convenience, security, and energy efficiency, underscoring a commitment to luxury that also embraces functionality and sustainability.
Luxury residences must strike a careful balance between striking aesthetics and practical usability. Buyers seek multiple functional spaces, including laundry rooms and butler’s pantries, with home offices being essential for many, especially executives who need at least two workspaces.
Outdoor living areas are becoming as extravagant as indoor spaces, with features like outdoor kitchens, heated pools, and beautifully landscaped gardens dedicated to relaxation and social gatherings. Fire pits, bars, and dining spots boost the outdoor experience, making these spaces ideal for both entertaining and unwinding.
Health and wellness have surged to the forefront of luxury living, with clients increasingly looking for homes that rival top-tier gyms and spas. Private fitness centers, spa-like spaces, saltwater pools, and workout pods emphasize a shift towards creating health-centric environments. This trend reflects a broader desire for a holistic lifestyle where luxury embodies not just opulence, but also a commitment to well-being.
Curb appeal remains paramount for luxury buyers, who readily invest in sophisticated landscaping, ambient lighting, and high-quality exterior finishes. Features like elegant driveways and tasteful lighting create a lasting impression.
While every market has its unique characteristics, “the experience” offered by a home has emerged as a decisive factor for affluent buyers. In high-end properties, this experience blends ambiance, comfort, and personalization to elevate daily living. It transcends mere high-quality materials—it's about customizing design and incorporating convenience and exclusivity aligned with the owner's lifestyle. Ultimately, “the experience” transforms a house into a unique, luxurious space that enriches everyday life. It is equally vital to preserve the natural essence of the surroundings while seamlessly fusing aspects of lifestyle, health, privacy, and security.
The 2025 luxury real estate landscape will be characterized by innovative technologies, tailored living environments, and wellness-driven amenities. As buyer preferences evolve, these features redefine modern luxury living. For sellers, staying attuned to these trends is critical to meeting the demands of high-net-worth individuals and remaining competitive in the evolving market.
Whether you're considering buying or selling a high-end property, aligning with a brokerage that understands the nuances of privacy, customization, and lifestyle appeal is crucial. Chase International’s team of real estate professionals are here to guide you through every step, offering unparalleled insight and expertise. Contact Chase International today to explore how we can help you achieve your luxury real estate goals.
The Chase Green Ribbon Experience expresses our gratitude, respect, and appreciation for our colleagues, clients, community, and planet. Inspired by the ritual of Japanese gift-giving, the green ribbon represents our heart chakra, symbolizes our environment, and defines our culture. At Chase International, we strive to exceed expectations and deliver results every time with an unparalleled standard of integrity, expertise, and gratitude while supporting the health and well-being of all. Driven by purpose, our commitment to making a difference in people's lives is our gift to you.
Chase International Foundation
Supporting needs for shelter, food, well-being and safety.
Chase Cares
The volunteer arm of our foundation, ensuring the prosperity of our community.
Chase Global Initiative - Hela Bima World Foundation
Supporting rural farmers and their families in Sri Lanka using environmentally sustainable farming practices.
Chase Wellbeing
Joy for your mind. Health for your body. Success for your life.
Green Certified Company
More than a color, Chase Green is our heart's promise to the planet.
At Chase, we are embracing a new way of being - enhancing our service to include “enlightened hospitality” with the 'real state’ of people’s needs top-of-mind.
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.
As members of Leading Real Estate Companies of the World, Chase International real estate is connected to a referral network of 565 of the foremost local, regional and international real estate firms, with 4,300 offices and 130,000 sales associates in the US and 70 countries. Collectively, we sell 1.1 million homes annually valued at $377 billion.
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.
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.
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.
Chase International is one of the nation's leading independent real estate firms, specializing in exceptional and distinctive luxury properties in Tahoe, Carson, Reno, and Northern California. Over the past four years, we've proudly closed over $9 billion in sales and made dreams a reality for over 10,000 families. With a team of over 360 highly qualified professional REALTORS® and 14 strategically located offices, we are dedicated to our clients' success. Chase agents leverage extensive knowledge, unmatched experience, and powerful connections to deliver an above and beyond real estate experience.