Dickson Realty Luxury Trends Magazine - Truckee/Tahoe - Q4 2018

Luxury Trends Year-End 2018 Tahoe/Truckee Market Report

DicksonLuxury.com

GREETINGS IN THE NEW YEAR AND WELCOME TO OUR ANNUAL LUXURY HOME MARKET REPORT FOR

2018

COVER PROPERTY FEATURED:

16356 GREENLEE $1,399,000, MLS#20183054

Dickson Realty, Truckee, is pleased to present the 2018 Annual Luxury Home Market Report. This 2018 annual report highlights the news and trends of luxury home sales in the region.

The number of homes that sold for $1,000,000 and above numbered 345 which is a 7% positive increase in 2018 over prior year 2017.

More significantly there was a 21% increase in the average sold price which is a positive trend for the luxury home market.

The average days on market continued to lessen; in 2017 days on market numbered 120 versus 107 days in 2018.

As inventory continues to decline, the time on market is expected to decrease even further in 2019.

The total dollar volume of luxury home sales increased by 30% from $704,906,266 in 2017 to $916,060,535 in 2018.

Martis Camp in Truckee continues to lead the luxury home market sales for highest price point with a market share of 14%, 47 homes sold totaling $247 million.

The Luxury Home Market trends out performed the general real estate trends predicated for California in 2018 by the California Association of Realtors®. Its 2018 forecast, dated October 2017, predicted the market would make modest gains with sales rising 1% and median pricing increasing as much as 4.2%. This year’s luxury home sales and median pricing both increased a healthy 7%!

We hope you find the information we have provided useful in planning your next real estate sale or purchase. Our team of Dickson Realty Luxury Home Specialists is available to provide you with competent expertise in this market area.

We will work hard for you to achieve the most positive outcome whether you are buying or selling.

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1 Million January-December 2018 vs. 2017

+7%

+21%

+12%

-11%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2018: 345 2017: 322

2018: $2,655,247 2017: $2,188,848

2018: $728 2017: $649

2018: 107 2017: 120

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of January 4, 2019, For the periods January - December 2018 compared to January - December 2017

Luxury Home Sales over $1 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

226 $2,410,791 $11,750,000

Alpine Meadows NUMBER OF SALES

AVERAGE SALES $ HIGHEST SALE $

$1,653,000

AVERAGE SALES $

HIGHEST SALE $

$2,150,000

HIGHEST SALE $

59 $2,440,612

AVERAGE SALES $

$22,865,543

11%

HIGHEST SALE $

$3,000,000– $4,999,999

$1,561,250 $2,150,000

45 $4,518,844 $40,000,000

Sold Listings Over $1 Million $5,000,000 and higher

$1,000,000– $1,999,999

59%

10

West Shore, Lake Tahoe, CA NUMBER OF SALES

Active Listings Over $1 Million $5,000,000 and higher

NUMBER OF SALES

AVERAGE SALES $

North Shore, Lake Tahoe, CA NUMBER OF SALES

5

Squaw Valley

9%

$1,000,000– $1,999,999

62%

$3,000,000– $4,999,999

15%

13%

$2,000,000$2,999,999

$2,000,000$2,999,999

14%

18% $1,000,000– 108 Active Listings $1,999,999 $1,439,138 Average Price

$1,000,000– 214 Sold Listings $1,999,999 $1,353,930 Average Price

$2,000,000– 33 Active Listings $2,999,999 $2,482,530 Average Price

$2,000,000– 47 Sold Listings $2,999,999 $2,477,970 Average Price

$3,000,000– 23 Active Listings $4,999,999 $3,947,870 Average Price

$3,000,000– 53 Sold Listings $4,999,999 $3,897,196 Average Price

163 Average Days On Market

184 Average Days On Market

145 Average Days On Market

$5,000,000 20 Active Listings and higher $10,219,260 Average Price

227 Average Days On Market

89 Average Days On Market

82 Average Days On Market

53 Average Days On Market

$5,000,000 31 Sold Listings and higher $10,074,788 Average Price

189 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of January 4, 2019, For the periods January - December 2018 compared to January - December 2017

Recent Dickson Sales

SOLD $4,750,000

Buyer and Seller Representation by Dickson Realty

SOLD $1,700,000

Seller Representation by Dickson Realty

SOLD $1,589,000

Buyer Representation by Dickson Realty

Tahoe City

Tahoe Donner

Gray’s Crossing

SOLD $1,960,000

Buyer Representation by Dickson Realty

SOLD $1,600,000

Buyer Representation by Dickson Realty

SOLD $1,500,000

Buyer Representation by Dickson Realty

Lahontan

Tahoe Donner

Tahoe Donner

Recent Dickson Sales

SOLD $1,350,000

Seller Representation by Dickson Realty

SOLD $1,170,000

Seller Representation by Dickson Realty

SOLD $1,150,000

Seller Representation by Dickson Realty

Pine Forest

Tahoe Donner

Tahoe Donner

SOLD $1,250,000

Buyer and Seller Representation by Dickson Realty Tahoe Donner

SOLD $1,162,500

Buyer & Seller Representation by Dickson Realty

SOLD $1,125,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Recent Dickson Sales

SOLD $1,115,000

Buyer Representation by Dickson Realty

SOLD $1,075,000

Buyer Representation by Dickson Realty

SOLD $1,030,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

SOLD $1,100,000

Seller Representation by Dickson Realty

SOLD $1,050,000

Buyer Representation by Dickson Realty

SOLD $1,025,000

Buyer & Seller Representation by Dickson Realty

Tahoe Donner

Old Greenwood

Tahoe Donner

Current Luxury Listings

$8,850,000

9900 & 9340 Carmen Valley Trail

MLS# 20182703

Pending

$1,595,000

15104 Donner Pass Road

$1,849,500

11036 Henness Road

MLS# 20181994

Cover Home

MLS# 20180595

$1,399,000 16356 Greenlee

MLS#20183054

Old Greenwood

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018

2017

AVERAGE $

AVERAGE PRICE

31%

$1,983,000 $1,514,909

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

42%

$2,115,000 $1,495,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-33%

FROM LAST YEAR

UNITS SOLD

-45%

FROM LAST YEAR

82

123

DAYS ON MARKET

6 UNITS SOLD

11

Gray’s Crossing

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price 2018

2017

AVERAGE $

AVERAGE PRICE

1%

$1,414,066 $1,407,417

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-8%

$1,350,000 $1,460,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

8%

FROM LAST YEAR

UNITS SOLD

-38%

FROM LAST YEAR

71

66

DAYS ON MARKET

15

24

UNITS SOLD

Lahontan

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price AVERAGE $

2018 2018 2017

AVERAGE PRICE

1%

$2,336,644 $2,310,781

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

-8%

$2,195,000 $2,387,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-29%

FROM LAST YEAR

UNITS SOLD

69%

FROM LAST YEAR

103

145

DAYS ON MARKET

27 UNITS SOLD

16

Schaffer’s Mill

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price AVERAGE $

2018 2018 2017

AVERAGE PRICE

23%

$1,746,000 $1,416,384

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

6%

$1,419,500 $1,334,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-53%

FROM LAST YEAR

UNITS SOLD

-23%

FROM LAST YEAR

84

178

DAYS ON MARKET

10 UNITS SOLD

13

Martis Camp

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$5,254,822

18%

$4,466,071

FROM LAST YEAR

MEDIAN PRICE

$4,675,000

18%

$3,962,500

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

25%

FROM LAST YEAR

UNITS SOLD

12%

FROM LAST YEAR

179

143

DAYS ON MARKET

47

42

UNITS SOLD

Northstar

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,840,363

0.3%

$1,834,310

FROM LAST YEAR

MEDIAN PRICE

$1,535,000

6%

$1,450,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-9%

FROM LAST YEAR

UNITS SOLD

14%

FROM LAST YEAR

123

135

DAYS ON MARKET

33

29

UNITS SOLD

Squaw Valley-Alpine Meadows

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,591,833

1%

$1,575,260

FROM LAST YEAR

MEDIAN PRICE

$1,532,500

10%

$1,395,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

59%

FROM LAST YEAR

UNITS SOLD

-40%

FROM LAST YEAR

284

179

DAYS ON MARKET

15

25

UNITS SOLD

Lake Tahoe – North Shore

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$2,440,612

27%

$1,923,090

FROM LAST YEAR

MEDIAN PRICE

$1,555,000

20%

$1,299,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-29%

FROM LAST YEAR

UNITS SOLD

7%

FROM LAST YEAR

87

122

DAYS ON MARKET

59

55

UNITS SOLD

Lake Tahoe – West Shore

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$4,518,844

59%

$2,840,509

FROM LAST YEAR

MEDIAN PRICE

$1,900,000

13%

$1,688,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

2%

FROM LAST YEAR

UNITS SOLD

10%

FROM LAST YEAR

115

113

DAYS ON MARKET

45 UNITS SOLD

41

Tahoe Donner

January-December 2018 vs. 2017 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2018

2017

AVERAGE PRICE

$1,224,649

-0.5%

$1,230,655

FROM LAST YEAR

MEDIAN PRICE

$1,175,000

1%

$1,190,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2018

2017

DAYS ON MARKET

-29%

FROM LAST YEAR

UNITS SOLD

32%

FROM LAST YEAR

46

65

DAYS ON MARKET

49

37

UNITS SOLD

Exceptional Sales in our Region Congratulations to the Dickson Realty Luxury Agents who represented the sellers of these notable properties in Incline Village/Crystal Bay, MontrĂŞux, and Tahoe City.

Over 500 feet of Lake Tahoe shoreline on five separate parcels, with 180 degree views of Lake Tahoe and endless development possibilities available. The property offers a main cabin, a waterside guest cottage, impeccable landscaping, and has Lake Tahoe access with a pier, boat-lift and buoy. Quite possibly, the best kept secret on

SOLD $17,500,000

Seller Representation by Mary Jurkonis, 775-772-1514 and Rebecca Dickson, 775-742-2120

the North Shore.

Stunning MontrĂŞux masterpiece on a 1.5 acre estate parcel, overlooking the tall pines of the picturesque 13th fairway. The entrance is framed by a circular driveway & mature landscaping. A thoughtful floorplan encourages cozy gatherings or easily accommodates grand entertaining.

A true great room design w/ soaring-beamed ceilings, gracious windows & easily accessible surrounding patios.

SOLD $4,900,000 Seller Representation by Rob Wonhof, 775-849-9444

Classic Tahoe home with 100 feet of Lake Tahoe frontage on 1.5 acres. Private, yet a short distance to Tahoe City. Private pier, articulating dock with 6-ton hydraulic boat lift and 2 buoys.

Originally built in 1930, now updated for more modern living, this 6-bedroom, 4-bath, 4,600 sf home includes radiant in-floor heat, plus updated

SOLD $4,750,000 Seller & Buyer Representation by Kellen Flanigan, 775-284-3050

kitchen and bathrooms. A large outdoor deck overlooks the lake.

I’M LOCAL I’M GLOBAL ®

$55 BILLION MORE U.S. HOME SALES VOLUME IN 2017 THAN OUR CLOSEST COMPETITOR Volume shown in billions of dollars

400

$372

®

Leading Real Estate Companies of the World

INDUSTRYLEADING SALES. WORLD-CLASS SERVICE.

$317

$306 $298

$250

n

Leading Real Estate Companies of the World®

n n n n n n n n n n n

RE/MAX

350

Keller Williams Coldwell Banker Berkshire Hathaway Home Services

300

Century 21 Sotheby’s International Realty ERA 250

Exit Realty Realty Executives Better Homes & Gardens HomeSmart

200

$181

150

1.1 MILLION TRANSACTIONS

$121

$116

100

$372 BILLION IN HOME SALES 565 COMPANIES 4,300 OFFICES

50

130,000 SALES ASSOCIATES OVER 70 COUNTRIES

$26

$25

$22

$20

$12

For informational purposes only. Based on available data for average sales units per agent and average sales prices per firm. In compiling this report, LeadingRE relies on third party sources including REAL Trends National Network 2018 Totals Final Report and REALTOR® Magazine 2017 Franchise Report. LeadingRE is not responsible for the accuracy of third party data.

As an affiliate of Leading Real Estate Companies of the World,® our brokerage is a local and global market leader working on your behalf.

LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience. ®

© 2018 Leading Real Estate Companies of the World. All Rights Reserved.

C–Sales Volume. 04.18

Equalused Housing Opportunity.

Article and images with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog

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THE LATEST INTERIOR TRENDS As we enter a new season, some of us may have the urge to make some décor changes, whether it be to spruce up an outdated living space or to make a home more appealing to prospective buyers.

Paint color, furnishings and even lighting can set the tone for how we feel in our most intimate spaces. With a plethora of options for updating your interior, it may be a challenge to decipher what trends you should incorporate, and which ones are decidedly “you.” We sat down with Noa Santos to discover what trends his team of professional designers are loving right now and how you can incorporate them into your home.

Noa Santos Founder and CEO of Homepolish Noa Santos grew up in Hawaii and studied business and architecture at Stanford University before moving to New York to pursue his love for interior design. Once in New York, he began working with a high-end design firm and quickly realized the industry needed a fix. He saw a lack of accessibility between designers and clients, and within the industry, between agencies and designers. As a result, he launched Homepolish, a company which connects interior designers to make interior design more accessible to a wider audience. Homepolish currently works with over 600 designers throughout the U.S., with plans to expand globally in the coming years.

2

Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog

Sculptural Art and Accessories Whether it’s a sculpture, an organically shaped accent piece or glowing neon lights, Homepolish designers are stepping outside of the frame, so to speak, when it comes to accessorizing for clients. Designer Amy Courtney recently worked on a project with a client whose life and work is dedicated to the principles of female empowerment and optimism. Keeping this in mind, she set ahead to create a modern and feminine home that also included a little of the unexpected. By incorporating a fullfigured bust, an oversized Lucite hand, a bird-leg table and a life-size bronze peacock sculpture, the space not only came to life, but also included some great conversation starters. According to Santos, “you don’t have to go full avian, but peppering in something shapely beyond a standard print adds a truly unique element.”

Moody Kitchens

Trying Tile

We all know and love a clean white kitchen, but there’s a growing trend with designers breaking from the expected and experimenting with higher contrast combinations. Instead of heading for the classic white and gray Carrera marble, designers are opting for Nero Marquina, a deep black marble with a delicate white veining pattern. Cabinets and trim are getting a color makeover too, with cabinets in popular colors such as navy and forest green along with small touches like matte black hardware. “These colors are really paving the way for edgier kitchens in the future” says Santos.

Using tile isn’t a new idea, but recently there’s been a rise in creative applications and unique styles coming to market. Contrasting grout color is one of those, with designers opting for a dark gray for easy upkeep or even red to add a splash of color. Including tile with globally inspired patterns or trying an unusual application, like on a cylindrical dining table or planter are other ways designers are incorporating this classic element. Not sure you’re ready to commit to tile? Noa recommends trying a more temporary approach: “One great brand that allows you to refresh a space with tiles is Moonish. Their gorgeous magnetized tiles can be used without damaging the existing space.”

Unexpected Materials Homepolish designers also love finding ways to incorporate more traditional materials and repurpose them with a contemporary twist, while also tapping into today’s trend toward adaptive reuse. Many houseware companies are developing new designs this season with this same idea in mind. Santos recommends the latest collection from, Dvelas, an architecture firm based in Spain, that upcycles old boat sails to create modern outdoor furniture. Their modern riff on nautical textures and patterns is a hallmark of the Dvelas brand. Similarly, VOLK, a furniture company based in Brooklyn, New York incorporates unexpected metals and thin silhouettes, into mid-century and Danish-style designs.

Wallpaper It’s back and it’s not just for walls anymore. “Our designers have definitely embraced the rise of the wallpaper trend,” says Santos. While it was once thought of as something from your grandmother’s outdated guest bedroom, wallpaper is now rightfully seen as a great way to imbue pattern and personality into a space. Brands like Ellie Cashman Design, Osborne & Little and Cole and Son have many beautiful options, especially in modern florals and botanicals. Designers are thinking outside of the four walls and even tossing it up on the ceiling — to make a super stunning impact.

Image credit Homepolish. Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog Image credit: Homepolish

luxuryportfolio.com | | 3

AFFLUENT MARKETING STRATEGIC MARKETING Targeted, Integrated, Measured. Our marketing campaign goes beyond local marketing – it gives your property exposure to a worldwide audience of affluent consumers through hundreds of Luxury Portfolio affiliates around the globe as well as through our international real estate partner websites, including WallStreetJournal.com, CountryLife.co.uk, and LeadingRE.com – the exclusive property search of Leading Real Estate Companies of the World.

Our advertising program reaches 47 million affluent consumers annually. Leveraging publications targeted at high-net-worth individuals — The Wall Street Journal, Unique Homes, Luxe Interiors + Design, Country Life International, and more — we drive qualified prospects to your property. Luxury Portfolio International magazine highlights incredible homes, luxury destinations, designers, and lifestyle trends, and is read by affluent clients in more than 60 countries.

lux·u·ry (luhk-shuh-ree) noun 1. the state of great comfort and extravagant living. synonyms: opulence, luxuriousness, sumptuousness, grandeur, magnificence, splendor, lavishness, the lap of luxury, a bed of roses, (the land of) milk and honey.

TRUCKEE 530.587.7444 DOWNTOWN RENO 775.324.7000

CAUGHLIN RANCH 775.746.7000

PORTOLA 530.832.1700 DAMONTE RANCH 775.850.7000

DONNER LAKE 530.587.4811 SOMERSETT 775.746.7222

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

DicksonLuxury.com | luxury@dicksonrealty.com

© 2018 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.