T H E TA H O E M O U N TA I N
Market News Now two years into recovery, the Tahoe Truckee real estate market is surging, led by an overwhelming push in the luxury segment. With the rapid economic growth of our Northern California feeder market and their keen desire for a retreat in a beautiful environment, the fundamentals of Lake Tahoe Real Estate are nearly as strong ever.
REPORT T A H O E - T R U C K E E
R E A L
E S T AT E
~
2 0 1 4
( 6
M O )
M A R K E T
R E V I E W
While sales volume for the entire region has lagged 14% behind 2013 year-to-date, the luxury market segment (defined as properties $1 million and over) has shown a dramatic 28% increase. The decline in overall volume was largely due to the lack of available properties for sale earlier this year. The overall region continues to show strong advances in median and average price through the first half of 2014 again driven by the upper tier sales. Average price has risen 20% from $687,144 in the first half of 2013 to $826,117 through June. The introduction of communities that cater to the changing demographics of our consumer continue to thrive as evidenced by the $25,000,000 in sales within Northstar Mountainside, as well as the ongoing success of Martis Camp. While Lake Tahoe has been the principle draw to the region historically, new generations of affluent consumers are finding the right fit for their families at Northstar. The opportunity to live next to the signature services, luxury and amenities of The Ritz-Carlton, while having immediate access to nature, has created a lifestyle conducive to quality time with multiple generations. The recent Grand Opening of Tree House, Mountainside’s new community clubhouse, will only enhance the qualify of life offered in this unique and special community. Tahoe Mountain Resorts also has enjoyed a stellar first half of 2014, continuing to deliver superior service and representing a strong majority of sales within our core markets of Northstar, Martis Camp, Lahontan, Old Greenwood and Gray’s Crossing. As we look forward to an active second half of the year, TMR will be at the forefront helping buyers and sellers achieve their goals of living the Tahoe life. Regardless of economic conditions, the second half of any year is always full of endless opportunity for outdoor recreation and quality family experiences. We look forward to seeing you in the mountains.
Regards, Jeff Brown Vice President, Sales and Marketing Tahoe Mountain Resorts Real Estate
Tree House, Mountainside’s New Clubhouse
530.550.2000
::
O F F I C E
TMRRealEstate.com L O C A T I O N S
530.550.2000 TMRRealEstate.com 3001 Northstar Drive Truckee, CA 96161
13031 Ritz-Carlton Highlands Ct Truckee, CA 96161
12915 Fairway Drive Truckee, CA 96161
11406 Henness Road Truckee, CA 96161
Truckee-Tahoe Market Overview ~ TRANSACTION VOLUME COMPARISON
2014 (6 Mo)
AVERAGE SALES PRICE $1000000
1800 1600
$900000 1,661
1400
$800000
1,382
1,428
1,352
1200 1000
1,488
$802,283
$685,247
$771,862
$601,217
$600000
$592,523
$500000
$562,538
$513,177
$400000
1,079
1,037
$840,352
$700000
1,252 1,135
$820,749
$936,539
$300000 889
800
$200000 $100000
600
568
$0
400
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
200
ACTIVE LISTING INVENTORY
0 2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
4000 3500 3000
SALES VOLUME COMPARISON
3,100
2500 2,234
2000 $1,400
1500 $1,294,296,737
$1,031,643,482
MILLIONS
1,731
1,803
1,692 1,393
1000
$1,200
0
$953,800,000 $855,351,371
$831,967,000
$800
$760,551,000 $686,185,000
1,075
500
$1,029,095,850
$1,000
3,346
3,611
2005
2006
2007
2008
2009
2010
2011
2013
2014 (6 MO)
$642,497,000
$639,332,000
2014 (6 MO) RESIDENTIAL TRANSACTIONS BY PRICE POINT
$600 $466,185,209 $400
$200
$0 2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
* Data collected January – June 2014. Data contained in this report is from the Tahoe Sierra Board of Realtors. Information is deemed reliable but not guaranteed. Consult your Tahoe Mountain Resorts Broker for more information.
AMOUNT OF SALE
NUMBER OF TRANSACTIONS
AVERAGE SALES PRICE
UNDER $500,000
292
$332,806
$500,001 TO $1,000,000
202
$687,729
$1,000,001 TO $2,000,000
64
$1,424,325
$2,000,001 TO $3,000,000
17
$2,488,005
OVER $3,000,000
29
$4,510,124
RESIDENTIAL TOTAL
508
$825,670