TAHOE MOUNTAIN REPORT TRUCKEE/TAHOE MARKET OVERVIEW
PHOTO BY: VANCE FOX
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
530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | BRE 01995145 | PO Box 3757, Truckee, CA 96160
TRANSACTION VOLUME COMPARISON 1800 1600
1,634
1400
1,428
1,352
1200
1,620 1,609
1,488 1,377
1,252
1,746
1,412
1,079
1000 800 600 400 200 0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
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
$592,523
$562,538
$513,177
$400,000 $300,000 $200,000 $0
2009
2010
2011
2012
2013
2014
2015
w w w .TAHOEMOU N TAIN REALTY .c om
2016
2017
2018
2019
LUXURY MARKET OVERVIEW
SUMMARY
> $1MM
> $2MM
> $5MM
> $10MM
2011
101
33
4
0
2012
134
54
8
4
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
ACTIVE LISTING INVENTORY 4000 3500
3,346
3000 2500 2000 1500 1,393
1000
1,598
1,803 1,075 683
500 0
2010
2011
2012
2013
2014
2015
766
640
2016
495
2017
2018
516
518
2019
2020
MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE MARTIS CAMP
LAKEFRONTS
2009
$2,745,000
$4,037,500
2010
$2,295,000
$3,700,000
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
$6,000,000
$4,500,00
$3,000,000
$1,500,000 0
2009 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
D a ta c ollec ted January – Dec emb er 2 0 19. 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 – The dawn of 2020 finds the Tahoe – Truckee real estate market in great condition, with the 12-month totals for volume and total transactions ranking among the most productive ever. Last year gained momentum after withstanding a stalled beginning due to abundant snowfall, wrapping up with the second busiest Q4 on record. Though volume and transaction productivity were obviously notable, a much more discerning consumer trend was revealed. While classic mountain architecture has shown traditional peak roof forms and utilized wood finishes and dark tones reflective of a forest setting, a much more contemporary look featuring flat or single-pitch roof and clean, stark finishes have become the default preference of the modern Tahoe consumer. As a result, legacy inventory has languished while newer offerings have thrived driving price and volume in newer, nicely-amenitized communities disproportionately higher. Martis Camp has been a trend setter in this capacity, having dominated luxury real estate throughout the last decade, often at the expense of Tahoe lakefronts; the historical bell weather of mountain luxury. Beyond the ultra-high end, luxury communities in Truckee, by definition a newer breed of housing than those in the Tahoe Basin, have gained momentum outselling lakeside property by nearly a 2:1 ratio; particularly at prices greater than $1,000,000. Among these newer resort communities where contemporary design is most prevalent, Gray’s Crossing, Old Greenwood and Schaffer’s Mill each approached all-time highs for total transactions and pricing. The new year finds conditions near optimal a healthy and sustainable real estate market. Inventory is modest though not constrained at 3 months’ supply. Wage growth and wealth creation in our Northern California feeder market remain among the healthiest in the nation. Ample early season snowfall and clear roads have created few impediments for consumers to visit the region and experience the lifestyle benefits available through Tahoe homeownership. 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