LUXURY
REAL ESTATE MARKET REPORT SPRING/SUMMER 2019 LAKE TAHOE | TRUCKEE | RENO-SPARKS | CARSON VALLEY 1
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Contents Welcome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Insights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2018 Luxury & Lakefront Stats . . . . . . . 6-9 Significant Sales . . . . . . . . . . . . . . . . . . . . .10-12 Chase Luxury Stats . . . . . . . . . . . . . . . . . 13-16 Featured Luxury Listings . . . . . . . . . . . 17-26 Luxury Partnerships . . . . . . . . . . . . . . . . . . 27 Connections . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
CHASEI NT ERN AT IO NAL.CO M
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welcome Chase life—joy, health, success This year we’re thrilled to report that the luxury market has exceeded all expectations. Our vibrant local lifestyle continues to be a top choice for luxury homebuyers from around the world.
At Chase International, our experienced Certified Luxury Home Marketing Specialists have an extraordinary ability to bring your dreams to life. We invite you to experience what the Chase Luxe Team can do for you!
Lake Tahoe dazzles with new developments. The latest, Clear Creek Tahoe and Zalanta, offer once-in-a-lifetime opportunities to invest.
Take a moment to learn more about luxury in the High Sierra. We know you’ll be happy you did.
Reno is exploding with more companies moving in to take advantage of Nevada’s inviting tax structure. Truckee is evolving into the trendiest town to reside. Yes, we’re proud of our region, and we’d love to share it with you.
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Luxury wishes, shari chase-founder & ceo chase international
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luxury insights.
luxury insights Lake Tahoe
Truckee
Now that 2018 is in the books, it’s time to reflect on our year-end numbers. The Tahoe luxury market experienced a record-breaking year. Leading the way, the West-North Shore witnessed a dollar volume increase of 55%, followed by the East Shore at 35%, Incline Village at 21%, and South Lake Tahoe at 9%.
Dollar volume for luxury homes in Truckee increased 17% in 2018, with the median luxury price reaching $1.6 million. Martis Camp, where prices average $5.3 million per sale, saw the highest priced sale of the year at $11,750,000.
The top sale in 2018 was a lakefront on the West Shore in Sunnyside that sold for $40 million. The next most expensive sold for $24 million, also in Sunnyside, coincidentally right next door to a $37 million property that closed in early 2019. 15 lakefronts on the East Shore sold this year, with Chase participating in 10 of these high-end transactions. The top-priced lakefront property sold for $13,145,000, with Chase representing both sides. In Incline Village, Chase represented clients in the sale of two exclusive lakefront estates, one for $13.5 million and the other for $10 million. On the South Shore, Chase represented clients in 37 transaction sides involving properties over $1,000,000 for a record year in South Lake Tahoe.
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Reno-Sparks Reno saw an incredible 57% upswing in luxury dollar volume for 2018. 218 properties over $1 million sold, a 51% increase from the prior year, as median price softened by 1% to $1,287.500. The highest priced home, a property in Montreux, sold for $4.9 million.
Carson Valley Carson Valley had a good year with overall dollar volume up 12%. 22 properties over $1 million sold, an increase of 16%. The median price of a luxury home also increased 4% to $1,252,550. The most expensive property sold was a 330-acre estate property represented by Chase, selling for $3.5 million.
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YEAR-END 2018 VS 2017
p 35%
p 1%
glenbrook, nevada
VOLUME 2018: $157,613,400 2017: $116,956,100
p 17%
South Lake Tahoe
p 9%
p 17%
q 10%
p 55%
p 7%
p 18%
p 21%
p 25%
p 1%
p 17%
p 7%
p 7%
p 57%
p 51%
q 1%
p 12%
p 16%
p 4%
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 2018: $71,220,225 2017: $65,135,475
VOLUME 2018: $345,544,126 2017: $222,230,875
VOLUME 2018: $397,582,009 2017: $328,397,899
VOLUME 2018: $571,091,409 2017: $486,238,391
VOLUME 2018: $328,929,350 2017: $209,531,154
VOLUME 2018: $29,016,100 2017: $25,822,000
UNITS 2018: 56 2017: 48
UNITS 2018: 49 2017: 24
UNITS 2018: 103 2017: 96
UNITS 2018: 175 2017: 140
UNITS 2018: 243 2017: 228
UNITS 2018: 218 2017: 144
UNITS 2018: 22 2017: 19
2019 LUXURY MARKET REPORT
Properties sold over $1 million
MEDIAN PRICE 2018: $1,607,750 2017: $1,587,500
MEDIAN PRICE 2018: $1,220,225 2017: $1,362,500
MEDIAN PRICE 2018: $1,675,000 2017: $1,415,937
MEDIAN PRICE 2018: $1,600,000 2017: $1,582,500
MEDIAN PRICE 2018: $1,600,000 2017: $1,500,000
MEDIAN PRICE 2018: $1,287,500 2017: $1,300,000
MEDIAN PRICE 2018: $1,252,550 2017: $1,200,000
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 01/07/2018.
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Tahoe Lakefront Sales SINGLE FAMILY RESIDENTIAL HOMES AT YEAR-END 2018 VS 2017
MEDIAN PRICE $6M +20% 20% -10% -10% 22% +22%
$4M
$2M
-48%
$0 EAST SHORE $5,710,000 $4,775,000 2018 2017
SOUTH SHORE
NORTH & WEST
$1,005,000 2018
$4,457,500 $3,650,000 2018 2017
$1,948,713 2017
INCLINE VILLAGE CRYSTAL BAY $5,150,000 $5,695,000 2018 2017
VOLUME SOLD $200M
76% +76%
$175M $150M $100M $75M
+18% 18%
105% +105%
$50M $25M
-31%
$0 EAST SHORE $92,925,500 $45,335,000 2018 2017
SOUTH SHORE $6,899,000 2018
$9,947,425 2017
NORTH & WEST $217,888,913 $123,713,000 2018 2017
INCLINE VILLAGE CRYSTAL BAY $96,695,000 $82,095,000 2018 2017
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 01/07/2018.
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SINGLE FAMILY RESIDENTIAL HOMES AT YEAR-END 2018 VS 2017
EAST SHORE
2018
2017
Change
Volume
$92,925,500
$45,335,000
105%
Units
15
8
88%
Median Price
$5,710,000
$4,775,000
20%
Average Price
$6,195,033
$5,666,875
9%
SOUTH SHORE
2018
2017
Change
Volume
$6,899,000
$9,947,425
-31%
Units
4
4
0%
Median Price
$1,005,000
$1,948,713
-48%
Average Price
$1,724,750
$2,486,856
-31%
NORTH & WEST SHORE
2018
Volume
2017
Change
$217,888,913
$123,713,000
76%
Units
28
26
8%
Median Price
$4,457,500
$3,650,000
22%
Average Price
$7,781,746
$4,758,192
64%
INCLINE & CRYSTAL BAY
2018
2017
Change
Volume
$96,695,000
$82,095,000
18%
Units
11
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22%
Median Price
$5,150,000
$5,695,000
-10%
Average Price
$8,790,455
$9,121,667
-4%
2019 LUXURY MARKET REPORT
Tahoe Lakefront Sales
Information gathered from Incline Village, Tahoe Sierra, Sierra Nevada, NNRMLS and South Lake Tahoe Board of Realtors MLS 01/07/2018.
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2018 Significant Chase Sales LUXURY SALES HIGHLIGHTS
Incline Village, Nevada
$13,500,000
Buyer Representation
Zephyr Cove, Nevada
Glenbrook, Nevada
$13,145,000
Buyer & Seller Representation
$8,600,000
Seller Representation
Glenbrook, Nevada
$6,750,000
Buyer & Seller Representation
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2018 Significant Chase Sales LUXURY SALES HIGHLIGHTS
Glenbrook, Nevada
$6,350,000
$5,500,000
Buyer & Seller Representation
Seller Representation
Carnelian Bay, California
Zephyr Cove, Nevada
$5,386,370
Seller Representation
Zephyr Cove, Nevada
$5,250,000
Buyer & Seller Representation
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SIGNIFICANT SALES SIGNIFICANT SALES 2018SIGNIFICANT Significant Chase Sales SIGNIFICANT SALES SALES A SELECTION OF OUR 2019 LUXURY DEVELOPMENTS A SELECTION OF OUR 2019 LUXURY DEVELOPMENTS
A SELECTION OF OUR 2019 LUXURY DEVELOPMENTS A SELECTION OF OUR 2019 LUXURY DEVELOPMENTS LUXURY SALES HIGHLIGHTS
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CLOSED & PENDING CLOSED & PENDING SALES CLOSED & PENDING SALES CLOSED & PENDING ranging from SALES ranging from SALES to $950,000 ranging from $950,000 $2,125,000 ranging fromto $950,000 $2,125,000to $950,000 $2,125,000to $2,125,000
110 110 110 110
CLOSED & PENDING CLOSED & PENDING SALES CLOSED & PENDING SALES CLOSED & PENDING SALESfrom homesites SALES homesites from
$360,000 $360,000 $360,000 $360,000
homesites from homesites from
SOLD OUT starting at starting at
$1,25O,000 starting at $1,25O,000 starting at $1,25O,000 $1,25O,000
SOLD OUT ranging from ranging from
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$850,000 ranging from $850,000 $1,250,000 ranging from $850,000 $1,250,000 $850,000 $1,250,000 $1,250,000
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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 $1.4 billion worth of property in 2018, brokering 2,316 transaction sides. 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 agents excel at innovation, creativity, negotiation and bringing about a happy and productive result for each client. We are grateful to our loyal clientele, our talented colleagues and our dedicated agents for the success we have enjoyed for 33 years.
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Properties sold over $5 million NUMBER OF TRANSACTIONS SOLD, TOP SIX COMPANIES
160 140 120 100 80 60 40 20 0
168
70
63
53
37
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Oliver Real Estate
Coldwell Banker IV/ZC
Sierra Sotheby’s
Tahoe Luxury Properties
Lakeshore Realty
Information gathered from MLS and County records. Transactions since 1989 through 02/14/2019.
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luxury leader.
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Properties sold over $10 million NUMBER OF VOLUME SOLD, TOP SIX COMPANIES
$1 BILLION $900 $800
$ IN MILLIONS
$700 $600 $500 $400 $300 $200 $100 $0
$989,745,000
$361,950,000
$358,050,000
$217,600,000
$210,650,000
$130,573,000
Oliver Luxury Real Estate
Sierra Sotheby’s
Tahoe Luxury Properties
Coldwell Banker IV/ZC
Lakeshore Realty
Information gathered from MLS and County records. Transactions since 1989 through 02/14/2019.
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luxury leader.
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Properties sold over $20 million NUMBER OF TRANSACTIONS SOLD, TOP FIVE COMPANIES
16 14 12 10 8 6 4 2 0 17
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Sierra Sotheby’s
Oliver Luxury Real Estate
Tahoe Luxury Properties
Lakeshore Realty
Information gathered from MLS and County records. Transactions since 1989 through 02/14/2019.
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Exclusive luxury listings A COLLECTION OF OUR CURRENT PROPERTIES
PINE TREE LANE - $9,980,000
HIGH MEADOW - $9,975,000
Glenbrook, Nevada | Clifton Chase | 775 815 1987
South Lake Tahoe, California | Sue Lowe | 775 690 1444
COVERDALE ESTATE - $9,850,000
GOLF LINKS - $9,449,000
Incline Village, Nevada | Donovan Group | 775 750 2190
Glenbrook, Nevada | Clifton Chase | 775 815 1987
FLOWERS AVENUE - $8,750,000
VIVIAN LANE - $7,250,000
Glenbrook, Nevada | Brooke Hernandez | 530 314 9766
Incline Village | Trinkie Watson | 530 582 0722
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Crystal Pointe Where water, sun and soul connect. Exclusively offered at $75,000,000 Crystal Bay, Nevada | 775 588 1444 | crystalpointetahoe.com
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The Pines Impeccable Glenbrook lakefront estate. Offered At $35,000,000 Trinkie Watson
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530 582 0722
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glenbrookgold.com
Crystal Drive Visionary lakefront coming to life. The Donovan Group
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775 750 2190
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West Lake Private West Shore lakefront estate. Offered At $17,900,000 Trinkie Watson
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530 582 0722
Nixon Mansion
The Nixon Mansion Historic Reno estate on the Truckee. Offered At $13,900,000
HISTORIC ESTATE TRUCKEE Trinkie Watson | RENO Donna Spear | 530 582ON 0722 THE | nixonmansion.com
TRINKIE WATSON | DONNA SPEAR | SANDI SOLOMONSON | OFFERED AT $13,900,000 | NIXONMANSION.COM 22
The Aerie Distinctive Reno luxury. Offered At $4,250,000 Ruby Von Schwerin | Donna Spear | 775 323 3884 | 40pronghorn.com
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Tahoe's Newest Mountain and Lake Community
Clear Creek Tahoe Intimate. Private. Spacious.
INTIMATE. PRIVATE. SPACIOUS.
Homesites From $360,000 Georgia Chase | 775 636 3085
Clear Creek
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clearcreektahoe.com
HOMESITES FROM $360,000
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C L E A R C R E E K TA H O E
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Sagemodern A Clear Creek Tahoe masterpiece. Offered At $3,195,000 Georgia Chase | 775 636 3085
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OWN IT.
Zalanta The ultimate Lake Tahoe experience. Luxury condos just steps from the Heavenly Gondola from $995,000. 775 901 6633
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zalanta.com
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 - THE BOARD OF REGENTS Chase is one of the top 520 luxury residential real estate firms around the world that meet annually to discuss the future of the business and network with top agents around the globe. This preferred, exclusive knowledge provides Chase with superior insight and exposure for its clients. Brokers with this distinction provide leadership and the highest level of personal service and commitment to their clientele.
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 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. Mayfair International will showcase all Chase International listings over $250,000 on their website, Mayfairinternationalrealty.com. In addition, 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 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 real estate brokers. Through this alliance, Chase is able to provide superior service to qualified audiences in an expanded market area.
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ONE COMPANY.
ONE HEART. ONE PHILOSOPHY.
NEARLY $1.4 BILLION IN ANNUAL SALES. 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 350 compassionate and determined REALTORS® in 10 offices, we are committed to our client 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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