Fall-Winter Luxury Real Estate Report by Chase International

LUXURY

Following the bustle of summer activity in the Lake Tahoe region, fall arrived with warm temperatures and the most beautiful colors we’ve seen in years. Now focus turns to winter and what to expect from the snow gods. Predictions say we’ll have a winter like last year; the squirrels are saying otherwise as they store an amazing amount of food, evidenced by stripped pine cones covering the ground everywhere.

In spite of a slowing market, our mountain spirit continues to attract those looking for a tranquil and safe living environment. This pause in the market allows all of us to reassess our needs and desires. Whether looking for a new luxury resort development on a grand scale or a cabin in the woods, choices are greater today than in the last two years.

A fundamental shift in the role redevelopment plays in restoring Lake Tahoe combined with the power of human-centric architecture are driving the revitalization of aging buildings throughout the scenic corridor. The Tahoe Biltmore is being reimagined into a new 5-star experience that will transform Crystal Bay while reducing up to fifteen tons of sediment runoff into Lake Tahoe annually. The Tahoe City Lodge, the first new resort development in Tahoe City in over 50 years, already has nearly 200 reservations for 65 resort condominiums. In Incline, Nine47 Tahoe is one to watch, with 40 new modern mountain luxury condominiums set to break ground in Spring 2023. Clear Creek Tahoe continues to be Tahoe’s most exciting mountain community, with over 300 sold or pending homesites in the past five years and a fresh wave of new homes ready to hit the market. Carson Valley’s Freedom Ranch offers wide-open spaces and spectacular Sierra views with plenty of options for building your dream home.

Our regional expansion now connects Lake Almanor, emerging as one of the best-kept secrets with beautifully appointed golf communities and lakefront properties in one of the most tranquil settings in California. Stay tuned for other treasures in the horse-shoe of Auburn, Roseville and Sacramento tri-counties area.

There is always a place to love at Lake Tahoe. Amazing properties continue to emerge with Crystal Pointe’s magnificence ever so present on the Nevada Shore. Crystal Cove Coast offers newly constructed waterfronts with the latest bells and whistles, East Shore privacy is still a huge draw, while South Lake Tahoe is a recreation haven. Truckee consistently appears on the top ski town lists. Reno is clearly a great option with something for everyone.

At Chase, each of our luxury specialists is finding new and creative ways to make magic for you. With our global connections, it’s easy to make your dreams come true! Discover how we can assist you wherever you are or want to be!

Luxury wishes,

shari chase founder & ceo chase international

Chase LIFE—live well, work well, love well!

luxury Insights

LAKE TAHOE

In the third quarter of 2022, the Lake Tahoe luxury market normalized at a brisk pace. External factors, including higher interest rates, stock market volatility, the war in Ukraine, and inflation, have caught up to the real estate market. However, the good news is the market is still above pre-pandemic levels around Lake Tahoe. At the end of 2019, The median price of a home was $660,000. By the end of Q3 in 2022, the median price increased by 41%, up to $930,000. The major contributing factor is our region's continued lack of inventory. Until inventories change, we believe the values will hold.

In 2021, 401 single-family homes over $1 million were sold compared to 566 last year, a decrease of 41%. The East Shore had the most significant reduction of 43%, followed by Incline Village at 34%, the North and West Shores at 30%, and South Lake Tahoe at 12%.

We are now seeing a return to a "normal" market in the Lake Tahoe luxury arena. Eight homes have sold for over $10 million this year, with three over $20 million. Chase International listed and sold three of the top five sales around the lake, including the top sale of $40,259,500 for an off-market lakefront in Sunnyside, followed by a $32,000,000 lakefront on the East Shore which represented both the buyer and the seller.

Lakefront sales stayed flat in the South Lake Tahoe market with three sales, Incline Village is down by 80% with only one sale, North and West Shores are both down by 48% with 11 sales, and the East Shore is down by 69% with four sales. Because of the low number of units sold, the median prices are down by 55% in Incline Village, 41% in South Shore, and 36% on North and West Shore. The East Shore median price was up 10%.

TRUCKEE

Truckee was relatively flat, with a four percent decrease in volume, six percent in units sold, and a two percent decrease in median price. Martis Camp continues to be the most affluent area in the Truckee market with record-breaking sales, the highest-priced home this year selling for $14,400,000, up from $12,950,000 the year before.

RENO-SPARKS

Reno-Sparks has fared well, with an increase of two percent in luxury homes sold, a one percent decrease in volume, and a four percent decrease in median price. Due to a robust economic environment, luxury home demands continue to escalate in this primary home market. The most expensive home sold for $6,900,000 in Montreux

CARSON VALLEY

Carson Valley tracked similarly to the Reno-Sparks market, with an increase of three percent in luxury homes sold, a three percent decrease in volume, and a three percent decrease in median price. The highest price sale in the Carson Valley was $9,650,000, for which Chase represented both buyer and seller.

LAKE ALMANOR

Our newest market area is Lake Almanor which has seen a remarkable increase in sales over the last three years. Fifteen luxury homes sold over $1 million with a median price of $1,250,000. The area continues to be affordable to the luxury buyer, and they are flocking here to purchase a home on one of the most tranquil and beautiful alpine lakes in California. The most expensive home to sell this year was $3,300,000.

SACRAMENTO

The Placer County and Eldorado County areas of the greater Sacramento region are tracking just four percent under last year for homes over $1 million. They had 300 sales of over $1 million compared to 324 the prior year, for a seven percent decrease. However, the median is up a whopping 19%. This year's highestpriced sale in this region was in Loomis for $7,000,000.

Properties Sold Over $1 Million

SINGLE FAMILY RESIDENTIAL HOMES 10.10.2022 VS 10.10.2021

East Shore Lake Tahoe

from stateline north to glenbrook, nevada

 -45%

VOLUME

2022: $175,542,000 2021: $317,200,200

South Lake Tahoe california

 -5%

VOLUME

2022: $208,352,611 2021: $219,434,680

 -43%

 -3%

West/North Shore california

 -32%

VOLUME 2022: $284,951,775 2021: $420,259,675

Incline Village nevada

 -36%

VOLUME

2022: $361,202,388 2021: $562,047,303

Truckee

 -4%

VOLUME

2022: $910,808,150 2021: $951,953,200

 -12%

MEDIAN PRICE

2022: $1,840,000 2021: $1,900,000

 -2%

MEDIAN PRICE

2022: $1,349,500 2021: $1,375,000

 -30%

UNITS 2022: 114 2021: 163

UNITS 2022: 120 2021: 137  -34%

UNITS 2022: 108 2021: 163

UNITS 2022: 59 2021: 103  -6%

UNITS 2022: 377 2021: 402

 -2%

MEDIAN PRICE 2022: $1,571,000 2021: $1,600,000

p 19%

MEDIAN PRICE

2022: $2,582,500 2021: $2,175,000

 -2%

MEDIAN PRICE

2022: $1,610,000 2021: $1,650,000

Properties Sold Over $1 Million

SINGLE FAMILY RESIDENTIAL HOMES 10.10.2022 VS 10.10.2021

Reno/Sparks nevada



-1%

VOLUME

2022: $719,760,050 2021: $729,767,455

Carson City

nevada

 -20%

VOLUME

2022: $25,565,080 2021: $31,940,601

p 2%

UNITS 2022: 455 2021: 448

 -27%

UNITS 2022: 19 2021: 26

Carson Valley

nevada

Sacramento/Placer/ Eldorado County

 -3%

VOLUME

2022: $144,629,682 2021: $148,775,015

 -4%

VOLUME

p 3%

UNITS 2022: 79 2021: 77

 -7%

 -4%

MEDIAN PRICE 2022: $1,350,000 2021: $1,399,500

p 6%

MEDIAN PRICE

2022: $1,270,000 2021: $1,195,000

 -3%

MEDIAN PRICE

2022: $1,450,000 2021: $1,500,000

p 19%

Lake Almanor california

2022: $430,209,895 2021: $449,929,691  -9%

VOLUME

2022: $24,770,000 2021: $$27,258,875

UNITS 2022: 300 2021: 324  -6%

UNITS 2022: 15 2021: 16

MEDIAN PRICE

2022: $2,582,500 2021: $2,175,000

 -15%

MEDIAN PRICE

2022: $1,250,000 2021: $1,477,205

Tahoe Lakefront Sales

SINGLE FAMILY RESIDENTIAL HOMES 10.10.2022 VS 10.10.2021

EAST SHORE

Volume Units Median Price Average Price

SOUTH SHORE

Volume Units Median Price Average Price

NORTH & WEST SHORE

Volume Units Median Price Average Price

INCLINE & CRYSTAL BAY

Volume Units Median Price Average Price

2022 $58,240,000 4 $9,350,000 $14,560,000

2021 $131,525,000 13 $8,500,000 $10,117,307

2022 $11,650,000 3 $3,250,000 $3,883,333

2021 $15,725,000 3 $5,550,000 $5,241,667

Change -56% -69% 10% 44%

Change -26% 0% -41% -26%

2022 $106,959,400 11 $4,650,000 $9,723,581

2021 $164,852,200 21 $7,265,000 $7,850,107

Change -35% -48% -36% 24%

2022 $11,400,000 1 $11,400,000 $11,400,000

2021 $118,670,594 5 $25,370,599 $23,734,119

Change -90% -80% -55% -52%

CREEK TAHOE CLEARCREEKTAHOE.COM

CLEAR

The luxury leader

Chase continues to lead the luxury real estate market, selling more homes over $5, $10 and $20 million year after year. In 2021 we're proud to have sold $2.6 billion in real estate, serving 2,899 families and individuals.

With a history of unparalleled success, in 1996 and 1998, when the highest-priced property sold in New York City was $12 million, Chase negotiated record-breaking sales of $50 million and $30 million, unheard of in the nation at that time. We held that record nationwide for eight years.

Bolstered by our luxury heritage and strength of character, Chase Sales Executives excel at innovation, creativity and negotiation, bringing about a happy and productive result for each client.

We are grateful to our loyal clientele, our talented colleagues and our dedicated real estate professionals for the success we have enjoyed for 37 years.

Chase luxury collection

Crystal Pointe Tahoe

Built with creativity, ingenuity and love, Crystal Pointe is an epic Nevada lakefront masterpiece cradling the contour of the land on 5.14 private acres.

Cedar Cove

Crystal Coast

Gonowabie

Nixon Mansion

Pennington Mansion

The famed Pennington Mansion sits upon an enchanting 14-acre plot on a high plateau in southwest Reno, Nevada.

Stillwater Pines

Ty Cobb Estate

Clear

Tahoe Serenity

Tahoe’s most exciting mountain community 2,136 acres of prime mountain real estate surrounded by the six million acres of the largest national forest complete with extensive amenities, world-class golf and an iconic lake house on stunning Lake Tahoe.

Homesites from $650,000 | Luxury homes from $4,895,000 | CLEARCREEKTAHOE.COM

TAHOE LUXURY

RESOR T & RESIDENCE S

A new level of Lake Tahoe sophistication and luxury 15-acre resort located in Crystal Bay, Nevada, featuring 5-star hotel rooms and residences, an upscale casino, curated retail, restaurants, a lively amphitheater, and a world-class spa.

The next generation of Tahoe City

65 luxury resort condominiums with stunning lake and mountain views. Thoughtful details seamlessly blend mountain modern design with an effortless lock-and-leave lifestyle.

Refined luxury meets endless year-round adventure 40 mountain modern luxury condominiums located in Incline Village, Nevada, with direct access to unparalleled year-round adventure.

Gondola Vista

South Lake Tahoe residences steps from Heavenly Village

20 luxury residences that border the acclaimed Heavenly Ski Resort, Van Sickle State Park, Heavenly Village and Gondola. Four, five and six bedroom fully furnished residences with short term vacation rental options.

RA NC H

2 Acres homesites, custom and build to suit homes

16 rare 2-acre level homesites located in the Carson Valley, boasting dramatic Sierra mountain views. This unique, gated enclave celebrates the region’s finest architecture, artisans and craftsmen.

Chase International is connected to 550+ top-tier independent real estate brokerages, from the San Francisco Bay Area to New York City and beyond, spanning 60 countries on six continents around the globe, including our London office. Through this partnership we reach over 120,000 real estate agents, who represent more $1M+ properties than any other real estate company in the world. Together we close over $500 billion in annual sales, with one of our transactions closing every 15 minutes.

WHO’S WHO IN LUXURY REAL ESTATE

A worldwide collection of top brokers representing the finest luxury properties across the globe, Who’s Who in Luxury Real Estate has been leading the real estate industry since 1986. This hand-selected group of more than 130,000 professionals with properties in more than 70 countries collectively sells over $300 billion of real estate annually, making it the most elite and comprehensive luxury real estate network in the world.

LUXURY PORTFOLIO INTERNATIONAL

Luxury Portfolio International® is the luxury face of Leading Real Estate Companies of the World® the largest global network of premier locally branded companies dominated by many of the world's most powerful independent luxury brokerages.

LEADING REAL ESTATE COMPANIES OF THE WORLD

Through this premier International magazine for luxury estates, Chase features its prestigious properties twice a year to target affluent clients. Its circulation includes an exclusive distribution to each member’s private database, and the world’s premier hotels, international airports and bookstores.

MAYFAIR INTERNATIONAL REALTY

We have expanded our London office to include United Kingdom’s Mayfair International Realty in response to the increased traffic of overseas buyers. By doing so, we have further provided a marketing and sales platform for our properties to European investors. Mayfair International connects to 125 real estate brokerages with 350 offices, each with a stellar reputation in their respective countries. Country Life uploads all Chase properties over $1 million to their magazine website, Countrylife.co.uk. Country Life has been a national institution in the U.K. for over 100 years; a copy is hand-delivered to the Royal Family each week. Mayfair provides advertising and public relations opportunities to ensure maximum exposure for Chase International listings.

LEADING ESTATES OF THE WORLD

Through this premier International magazine for luxury estates, Chase features its prestigious properties twice a year to target affluent clients. Its circulation includes an exclusive distribution to each member’s private database, and to the world’s premier hotels, international airports and bookstores.

ARTISAN GROUP

The Artisan Group is a strategic alliance of high image real estate companies reaching from the greater San Francisco Bay area to Lake Tahoe. Chase clients benefit from this prestigious group’s network of professional luxury real estate brokers. Through this alliance, Chase is able to connect with qualified buyers in our major feeder markets.

Our partnerships take your property into every global market.

ARTISAN GROUP

ONE COMPANY. ONE HEART. ONE PHILOSOPHY. $2.6 BILLION IN ANNUAL SALES.

Chase International is a dynamic real estate company joining the hearts of buyers and sellers worldwide. Founded in 1986 and committed to the success of its clients, sales associates, staff and community, Chase cares and prides itself in making a difference in people’s lives. With more than 360 professional Realtors® representing homes at all price points, the company is proud to be the regional market leader, achieving the highest 2021 volume in the region of $2.6 billion in sales per Real Trends market tracker.

We empower people to achieve unlimited possibilities, make magical life decisions, and bring peace and harmony into their lives. This is our secret power. Put the Chase Power of Success to work for you.

THE LEADER IN LUXURY REAL ESTATE | CHASEINTERNATIONAL.COM