TAHOE MOUNTAIN R EP OR T TAHOE - TRUCKEE REAL ESTATE - 2014 ( 12 MO ) MARKET REVIEW
OFFICE LOCATIONS
NORTHSTAR 3001 Northstar Drive Truckee, CA 96161
530.550.2000
THE
RITZ-CARLTON 13031 Ritz-Carlton Highlands Ct Truckee, CA 96161
info@tahoemountainrealty.com
OLD GREENWOOD 12915 Fairway Drive Truckee, CA 96161
PO Box 3757, Truckee, CA 96160
GRAY’S CROSSING 11406 Henness Road Truckee, CA 96161
www.tahoemountainrealty.com
TR U C K E E /T A H O E MA RKE T O VE RVIE W - 2015 ( 6 MO )
TRANSACTION VOLUME COMPARISON
1800 1600
1,661
1400
1,382
1,428
1,352
1200
1,488
1,252 1,135
1000
1,079
1,037 889
800 600
568
400 200 0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
SALES VOLUME COMPARISON
$1,400 $1,294,296,737
$1,200
MILLIONS
$1,000
$1,031,643,482
$1,029,095,850 $953,800,000 $855,351,371
$831,967,000
$800
$760,551,000 $686,185,000
$642,497,000
$639,332,000
$600 $466,185,209
$400 $200 $0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
Data col l ec ted J an u ar y - J u n e 2 0 15. Data c on ta in e d in t h is re por t is from the T a hoe Sie rra B oa rd of R e a ltors. Informati on i s d eemed r el i ab l e b u t n o t g u aran t e e d . Con sult you r T a hoe Mounta in R e a lty B rok e r for m ore inform a ti on.
C ON TIN UE D
AVERAGE SALES PRICE $1000000 $900000
$820,749
$936,539
$800000
$840,352
$700000
$802,283
$685,247
$771,862
$601,217
$600000
$592,523
$500000
$562,538
$400000
$513,177
$300000 $200000 $100000 $0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 (6 MO)
ACTIVE LISTING INVENTORY 4000 3500
3,346
3,611
3000
3,100
2500 2,234
2000 1500
1,731
1,803
1,692 1,393
1000
1,075
500 0
2005
2006
2007
2008
2009
2010
2011
2013
2014 (6 MO)
2014 (6 MO) RESIDENTIAL TRANSACTIONS BY PRICE POINT
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
www.TAHOEMOUNTAINREALTY.com
MARKET NEWS The adage “quality over quantity” best sums-up the Tahoe-Truckee real estate market for 2014. With soaring economic conditions in the San Francisco Bay Area, more and more families made their way to Lake Tahoe to spend quality time together. This demand for home ownership led to a second straight year of over $1 billion in sales -- the first time since 2004-2005. Following an exceptionally robust 2013, quality inventory was at a premium heading into 2014. Despite fewer overall sales, the region’s dollar volume grew by over $100 million, indicative of a higher number of transactions for the market’s top tier properties. Average price grew by 18% in 2014 buoyed by 249 transactions at prices greater than $1 million. Three communities in particular set the tone for the surging luxury market in 2014. Tahoe Lakefronts, the gold standard for Tahoe real estate, outperformed all other classes over the past year with $130 million traded over 34 properties – the highest level in nearly a decade. Martis Camp, elevating Tahoe resort property for nearly a decade now, has only 80 homesites left so the focus shifted to the sale of custom homes. 2014 saw 36 residences sold in this community at an average price of $3,700,000 -- a figure nearly identical to lakefront sales. Finally, as Vail Resorts continues to distinguish itself as the world’s elite resort operator, the prestige of Northstar has risen to new levels. Accordingly, the opportunity to live on the Mountain has become its own calling card. Mountainside Northstar, the community anchored by The Ritz-Carlton; Lake Tahoe, has established an identity as the premiere on-mountain living experience on the West Coast. In 2014, Mountainside experienced over $40,000,000 in transactions ranging from estate land to premiere ski-in / ski-out residences. Looking ahead to 2015, all indications are that this robust market will continue. With inventory remaining at a balanced 6-month supply and stable economic conditions Tahoe appears poised for another year of growth. As Martis Camp and The Ritz-Carlton Residences near sellout, Mountainside Northstar, Lahontan, Gray’s Crossing and Old Greenwood stand to benefit as the recipients of attention from well-qualified consumers. At Tahoe Mountain Realty, we look forward to helping you make your Tahoe dream a reality in 2015. Regards,
General Manager Tahoe Mountain Realty
530.550.2000
info@tahoemountainrealty.com
PO Box 3757, Truckee, CA 96160
www.tahoemountainrealty.com