TAHOE MOUNTAIN REPORT TAHOE – TRUCKEE MARKET OVERVIEW
THE HUB & OFFICE LOCATIONS
Free Public Coworking & Industry-Leading Real Estate Resources 530.550.2000
info@tahoemountainrealty.com
NORTHSTAR
OLD GREENWOOD
GRAY’S CROSSING
DOWNTOWN
3001 Northstar Drive
12915 Fairway Drive
11406 Henness Road
10396 Donner Pass Road
Open Daily | 10am – 4pm
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tahoemountainrealty.com
BRE 01995145
TAHOE – TRUCKEE 12M TRANSACTION VOLUME COMPARISON 2000
2,322
1800
1,848
1,746 1600 1400
1,620
1,634 1,488
1,578
1,412 1,377
1200
1,297
1000
1,134
800 600 400 0
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
AVERAGE SALES PRICE $1,602,715
$2,000,000 $1,000,000
$1,520,695
$1,489,861
$900,000
$832,540
$821,430
$800,000
$907,330 $854,649
$759,693
$700,000 $600,000
$1,133,663
$1,047,342
$685,247
$500,000 $0 2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | DRE 01995145 | PO Box 3757, Truckee, CA 96160
O M A R K E T OV E R V I E W RESIDENTIAL TRANSACTION BY PRICE POINT SUMMARY
2011
> $1MM 101
> $2MM 33
> $5MM 4
> $10MM 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
2020
723
257
57
5
2021
875
284
76
20
2022
702
236
49
17
2023
567
189
47
8
ACTIVE LISTING INVENTORY 2000 1500 1,803 1000
1,075
500 0
766
683 2013
2014
640
2015
2016
2017
495 2018
516
231
2019
2020
137
617 264
2021
2022
2023
MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE MARTIS CAMP
LAKEFRONTS
$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
2022
$8,557,000
$9,482,000
2023
$7,275,000
$7,750,000
2013
$10,000,000
MARTIS CAMP
LAKEFRONTS
$8,000,000
$6,000,00
$4,000,000
$2,000,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Data collected January - December 2023. Data contained in this report is from the Tahoe Sierra Board of Realtors. Information is deemed reliable but not guaranteed. Consult your Tahoe Mountain Realty Broker for more information.
MARKET NEWS
Viewing the 2023 performance of real estate in the Tahoe Truckee region through a 12-month lens, the narrative can be summarized as a stubborn market in which record few properties transacted while prices remained largely static. This dynamic challenges many closely held assumptions of supply and demand whereby prices should diminish with extended days on market if sales are not prolific. Instead, sellers unmotivated by liquidity, chose to hold firm on price and opt out of continuing with sales efforts in circumstances when peak value was not offered. Buyers, in turn, took this opportunity to be exceptionally judicious about their selections, opting for purchases on only the most exceptional homes within any given neighborhood or price range rather than sniff out deals for product that is discounted but doesn’t otherwise match their needs. When viewing the performance of the market over a 24-month lens, a period of stagnation from Fall, 2022 through early Summer, 2023 is apparent, after which the second half of 2023 showed energy toward a return to historical averages for transaction volume. We head into 2024 with a sense of cautious optimism for a return to more ‘normal’ conditions. The year begins with seasonally adjusted balance of about 3 months’ supply. While election year precedence typically signals a year of paralysis, the growing anticipation of a rate cut seems to have demand primed for acceleration should mortgages return to a more tolerable level. Any such acceleration is likely to unlock greater inventory among those sellers that have waited on greater affordability for their next purchase which is likely to keep values balanced; perhaps even giving back some of the ample gains realized over the last several years. With a fascinating year ahead, we look forward to keeping you updated of the market and the many of wonders of Tahoe.
Best regards, Jeff Brown
General Manager Tahoe Mountain Realty 530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | DRE 01995145