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
2,322
1800
1,848
1,746
1600
1,620
1,634
1400
1,428
1,488 1,377
1,252
1200
1,578
1,412
1000 800 600 400 0
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
$1,133,663
$1,489,861
AVERAGE SALES PRICE $2,000,000 $1,047,342
$1,000,000 $900,000
$821,430
$800,000
$832,540
$907,330 $854,649
$685,247
$700,000
$601,217
$600,000 $500,000
$759,693
$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 (12 MO) RESIDENTIAL TRANSACTION BY PRICE POINT
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
875
284
76
20
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 2017
495 2018
516 2019
231
137
2020
2021
MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE $10,000,000 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
$6,522,000
$8,574,143
$8,000,000
$6,000,00
$4,000,000
$2,000,000 $0 2009 2011 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
D a ta collec ted January – Decemb er 2 0 2 1. Data c o n tai n ed i n th i s re por 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 me d rel i abl e b u t n o t g u aran teed . Co n sul t yo u r T a hoe Mounta in R e a lty B rok e r for m ore inform a tion.
MARKET NEWS Greetings – 2021 was a most remarkable year for Tahoe-Truckee real estate as the surge of consumers seeking an enhanced lifestyle continued for a second year. Demand overwhelmed supply in a manner that delivered multiple bids in a predictable fashion to well-informed sellers. While the total supply of listings over the course of the year was generally equivalent to recent years, the rate at which new supply was absorbed was so swift, that shoppers were often left with very few options. Coming off the most prolific year ever for property in the Tahoe – Truckee region, inventory held at a remarkably low but steady supply at 6 weeks, with transaction volume restrained only by available options. Ultimately, just shy of 1900 residential properties transacted over the course of the year, the most ever but for the previous year. Predictably, as demand overwhelms supply, prices surged higher. Despite 20% fewer transactions, the total dollar volume was nearly equivalent compared to the previous year. Both average and median price moved in unison showing appreciation of approximately 30% year over year. Compounding the gains of 2020, the market has accelerated by over 50% in the span of two years. This surge in pricing drove nearly 50% of all residential transactions to prices over $1,000,000. This benchmark, previously the threshold for luxury property, has become the median value throughout the region. In addition to Martis Camp, well amenitized resort communities including Lahontan, Old Greenwood, Schaffer’s Mill, and Clear Creek have been particularly appealing to the consumer seeking modern design, simple living, and easy access to nature. Properties within winter resorts, most notably Northstar’s Mountainside and Village Walk Skyline communities have sold through new development in record time. These communities as well as Sugar Bowl and Olympic Valley are equally starved for quality inventory at the outset of 2022. If no other lessons have been learned over the last two years, any attempt at predicting what may come is a fool’s errand. Nevertheless, from the perspective of a brand-new year, historically tight supply combined with a captive audience of would-be purchasers would seem to indicate that robust market conditions will be here for some time to come.
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