2021 Tahoe Mountain Report | YTD Edition (6MO)

Page 1

TAHOE MOUNTAIN REPORT TRUCKEE/TAHOE MARKET OVERVIEW

OFFICE LOCATIONS

NORTHSTAR 3001 Northstar Drive Truckee, CA 96161

OLD GREENWOOD 12915 Fairway Drive Truckee, CA 96161

GRAY’S CROSSING 11406 Henness Road Truckee, CA 96161

DOWNTOWN 10396 Donner Pass Road Truckee, CA 96161

530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | BRE 01995145 | PO Box 3757, Truckee, CA 96160


T R U C K E E / T A HO TRANSACTION VOLUME COMPARISON 2000

2,348

1800

1,746

1600

1,620

1,634

1400

1,428

1,488 1,377

1,252

1200

1,578

1,412

1000 857

800 600 400 0

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021*

AVERAGE SALES PRICE $2,000,000 $1,047,342

$1,000,000

$1,133,663

$900,000

$821,430

$800,000

$832,540

$907,330 $854,649

$685,247

$700,000

$601,217

$600,000 $500,000

$759,693

$1,493,054

$513,177

$400,000 $300,000 $200,000 $0

2011

2012

2013

2014

2015

2016

2017

w w w .TAHOEMOU N TAIN REALTY .c om

2018

2019

2020

2021*


E M A R K E T OV E R V I E W LUXURY MARKET OVERVIEW

SUMMARY

> $1MM

> $2MM

> $5MM

> $10MM

2013

178

63

10

2

2014

249

107

13

3

2015

202

73

17

1

2016

299

111

22

2

2017

346

105

23

2

2018

386

147

34

7

2019

348

94

25

5

2020

723

257

57

5

2021*

400

134

38

11

ACTIVE LISTING INVENTORY 4000 3500 3000 2500 2000 1500 1000

1,393

1,598

1,803 1,075

0

766

683

500 2011

2012

2013

2014

2015

2016

640

516

495

2017

2018

2019

231

265

2020

2021*

MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE MARTIS CAMP

LAKEFRONTS

2011

$3,412,500

$2,937,500

2012

$3,300,000

$3,200,000

2013

$3,297,500

$3,450,000

2014

$3,333,140

$3,025,000

2015

$4,650,000

$3,651,774

2016

$4,325,000

$4,176,000

2017

$4,466,000

$4,176,000

2018

$4,675,000

$3,747,000

2019

$5,100,000

$4,287,500

2020

$5,626,000

$4,388,000

2021*

$6,575,000

$7,911,818

$8,000,000

$6,000,00

$4,000,000

$2,000,000 0

2010 2012

2013

2014

2015

2016

2017

2018

2019 2020 2021*

D a ta c ollec ted January – June 2 0 2 1. Data c o n tai n ed i n th i s r epo r t is from the T a hoe Sie rra B oa rd of R e a ltors. Infor m a t ion is d e e m e d r e lia ble but n o t g u aran teed . Co n sul t yo u r Tahoe Mounta in R e a lty B rok e r for m ore inform a tion.


MARKET NEWS Greetings – The remarkable momentum gathered by Truckee -Tahoe real estate through 2020 carried over into a record-setting first half of 2021. The opening six months of any given year are typically quieter than the latter, yet this year 875 residential properties have transacted year-to-date, exceeding the same period a year prior by 36%. More notably, price escalation and an increasingly premium buyer profile have driven the cumulative dollar volume of these transactions above $1 billion; the first time this threshold has ever been met in the first half of any year. The local marketplace is as competitive as at any point in time with multiple bids having become commonplace. While the total number of listings brought to market this year is nearly identical to 2020, available supply feels impossibly tight having hovered around a single month of supply for much of the last year. Median time on market is an implausibly low 10 days year-to-date while the average sale is transacting at 104% of asking price. Buyer mentality continues to focus around “what will it take” rather than “what is it worth,” understanding that real value is in the opportunity to gain the non-monetary benefits of owning property in this pristine mountain setting. As we look toward a new normal, a hybrid ‘co-primary’ home concept is emerging. The opportunity to untether from a traditional Monday – Friday office model is allowing for a deeper engagement in the local community in a way that traditional vacation homeownership never allowed for. The current velocity of the real estate market will ultimately prove unsustainable, but few signs of erosion are present. Today’s consumer is well calibrated to the realities; including a keen awareness of buying into a peaking market. Unlike the bubble years preceding the last recession, there is not rampant speculation over future values, nor does there appear to be great sensitivity to the threat of rising interest rates. Rather, these consumers understand the quality-of-life benefit to living in the mountains and recognize that by waiting out a hot market, they are losing time spent in enjoyment. The second half of any given year typically delivers double the transaction volume as summer shoppers merge with those buying in anticipation of winter. From the current vantage, only constrained supply will prevent this trend from continuing.

Best regards, Jeff Brown

General Manager Tahoe Mountain Realty

530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | BRE 01995145 | PO Box 3757, Truckee, CA 96160


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.