TAHOE MOUNTAIN REPORT TRUCKEE/TAHOE MARKET OVERVIEW – 2018 YTD EDITION
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
TRUCKEE/TAHOE MARKET O TRANSACTION VOLUME COMPARISON 1800 1600
1,634
1400
1,428
1,352
1200
1,488 1,377
1,252
1,746
1,412
1,079
1000 889
800 600
505
400 200 0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018*YTD
SALES VOLUME COMPARISON
$1,600
$1,506,745,695
$1,400
$1,360,369,851
MILLIONS
$1,200
$1,131,109,424 $1,029,095,850
$1,000
$1,072,686,883
$855,351,371
$800
$760,551,000 $686,185,000
$642,497,000
$639,332,000
$600
$558,471,841
$400 $200 $0
2008
2009
2010
2011
2012
2013
2014
w w w .TAHOEMOU N TAIN REALTY .c om
2015
2016
2017
2018*YTD
V E R V I E W – 2 0 1 8 * YTD ( 6 MO) E D I T I O N AVERAGE SALES PRICE $1,000,000 $821,430
$900,000 $800,000 $700,000
$759,693
$832,540
$854,649
$1,105,885
$685,247
$771,862
$601,217
$600,000
$592,523
$500,000
$562,538
$400,000
$513,177
$300,000 $200,000 $100,000 $0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018*YTD
LUXURY MARKET OVERVIEW
SUMMARY
> $1MM
> $2MM
> $5MM
> $10MM
2010
133
43
8
2
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* YTD
109
53
12
2
ACTIVE LISTING INVENTORY 4000 3500
3,346
3,611
3000
3,100
2500 2000 1500 1,393
1000
1,598
1,803 1,075 683
500 0
2008
2009
2010
2011
2012
2013
2014
2015
766 640 2016
2017
738
2018*YTD
Da ta collec ted January – June 2 0 18. Data c o n tai n ed i n th i s r epo rt 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 Taho e Mounta in R e a lty B rok e r for m ore inform a tion.
MARKET NEWS Greetings – During the first half of 2018 the Tahoe-Truckee region has seen an explosion at the highest reaches of the market with 66 properties trading at values in excess of $2,000,000; a figure that exceeds the 12-month total of 7 out of the last 10 years. Reduced supply combined with surging demand have resulted in slightly fewer sales at substantially higher prices, and conditions defining the performance of the market are satisfyingly linear. The motivation of consumers seeking a lifestyle enhancement, whether as a primary or secondary home, in a beautiful mountain environment is easily understandable. With factors economic and cultural in alignment, the quantity of families making this quality of life decision has never been greater. In the simplest terms, there are generally more consumers in the marketplace than quality homes to buy. Premium lakefront offerings, those that have been updated or rebuilt and sit on remarkable parcels of land, have led this charge with three sales topping $20,000,000 and another handful in play for the second half of 2018. Not far behind traditional lakefront estates on premium values but at the opposite end of design spectrum, is the continued phenomenon of Martis Camp. With new, modern homes and an unrivaled amenity package, home sales have doubled year over year while values reach to $8 million and above for select offerings. Such robust activity is somewhat atypical of the season; particularly after a late-arriving winter. The second half of any given year will see nearly double the transaction volume of the first half. The current sense is that the only factor limiting this potential is restrained supply. Inventory levels have been hovering around 3 months’ supply for much of the last 12 months; approximately 50% below a balanced market. As spring typically brings new listings to market, we currently sit at a balanced 6-month supply. With the aforementioned interest piquing, conditions are ripe for a sensational last two quarters of 2018. Tahoe Mountain Realty looks forward to being your go-to resource for navigating the dynamics of our unique marketplace. 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