Hello spring. Goodbye winter! The snow gods laid their heavy hand, and now the focus turns to Spring and Summer and what the markets will do. The stall we’ve been experiencing is ready for a grand take-off!
In the last issue of LUXURY, we touched on a number of exciting new developments either currently on the market or about to be started this Spring. It is exciting for our region to have new products as Tahoe, in particular, has been languishing with old establishments that have outworn their usefulness in our modern times. Watch for news as the Waldorf Astoria starts coming to life in Crystal Bay, and Tahoe Lodge in Tahoe City and Nine47 Tahoe in Incline Village break ground.
For general real estate, there are beautiful luxury homes for sale in the whole region. Lake Tahoe and Truckee, with its Clear Creek Tahoe, Martis Camp, Lahontan, Palisades Tahoe and Northstar, have extraordinary selections in the over $4 million to $45 million range. Reno, Sparks, Washoe Valley and Carson Valley have luxury offerings between $3 million and $15 million. And that’s while we’re still in Winter mode. Expectations are high for increased inventory as the snow melts, the earth warms and flowers flourish!
There’s no expectation of values crashing; however, mindful sellers will reap the benefit of successful sales. Buyers are savvy and willing to pay fairly for homes that fit their wants and needs.
At Chase, our luxury specialists continue to find new and creative ways to make your dreams come true. With our global connections, our real estate services are expanded way beyond our Tahoe Region. Discover how we can assist you wherever you are or want to be!
The Incline Village Championship Golf Course continues to rank as one of the top public courses in America, and with good reason.
The 2022 Lake Tahoe luxury market started out strong and cooled off in the last six months of the year. Interest rates, stock market volatility, The war in Ukraine, and inflation all added to the pause we experienced in the latter part of 2022. The good news is that the market is still above pre-pandemic levels around Lake Tahoe. At the end of 2019, the median price was $660,000, and it is currently $935,000, a 42% appreciation increase. The lack of inventory in all our regions continues to be why prices have only dropped 2% since 2021. Until inventories change, we believe the values will hold.
Compared to the same time in 2021, 486 single-family homes over $1 million were sold compared to 705 last year, a decrease of 45%. The East Shore had the most significant decrease of 40%, followed by Incline at 38%, North and West Shores at 34%, and South Lake Tahoe at 12%.
In 2022 there have been ten sales over $10 million this year and three over $20 million. Chase International listed and sold four of the top sales around Lake Tahoe. The top sale was an offmarket sale in Sunnyside for $40,259,500. Chase International listed and sold the following top sale on the East Shore for $32,000,000. We are seeing a slight increase in inventory in the luxury markets around the Lake.
Lakefront sales were down 40% in the South Lake Tahoe market with three sales, down in Incline by 86% with only one sale, down in North and West Shores by 56% with 11 sales, and down on the East Shore by 64% with five sales. Because of the low count of units sold, the median prices are down by 64% in Incline Village, 41% in South Shore, and 22% on North and West Shore. The East Shore median price was up 10%.
Truckee faired a bit better with only a seven percent decrease in volume, 11 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 has fared well, with a seven percent decrease in luxury homes sold, a nine percent decrease in volume, and only a one 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 tracked similarly to the Reno-Sparks market with a decrease of 14 percent in luxury homes sold, an 18 percent decrease in volume, and only a two 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.
Our newest market region area is Lake Almanor which has seen a remarkable increase in sales over the last three years. Luxury homes sold over $1M were up 9% with 21 homes sold. The median price was down 7% to $1,250,000. This area continues to be affordable to luxury buyers who are reaping the benefits of purchasing a home on one of California's most beautiful alpine lakes. The most expensive home to sell in 2022 was $3,300,000.
The greater Sacramento region's Placer County and Eldorado County areas are tracking just five percent under 2021 for homes over $1 million. They had 1,154 sales over $1 million compared to 1,248 the prior year, for an eight percent decrease. However, the median is up two percent to $1,280,000. This year's highest-priced sale in this region was in Loomis for $7,000,000.
East Shore Lake Tahoe
from stateline north to glenbrook, ne vada
-49% VOLUME
2022: $211,136,000
2021: $412,640,200
South Lake Tahoe california
-11%
VOLUME
2022: $246,044,111
2021: $276,861,898
West/North Shore california
-40% VOLUME
2022: $342,573,275
2021: $570,492,178
Incline Village nevada
-47% VOLUME
2022: $406,132,388
2021: $765,011,303
-40% UNITS
2022: 71
2021: 118
Truckee
northstar, squaw valley and alpine ski areas, california
-7% VOLUME
2022: $1,089,264,000
2021: $1,177,244,991
-12% UNITS
2022: 146
2021: 166
-34% UNITS
2022: 141
2021: 214
-38% UNITS
2022: 128
2021: 207
-11% UNITS
2022: 454
2021: 510
-6% MEDIAN PRICE
2022: $1,805,000
2021: $1,912,500
p 1%
MEDIAN PRICE
2022: $1,350,000
2021: $1,332,500
-4% MEDIAN PRICE
2022: $1,510,000
2021: $1,567,000
p 15%
MEDIAN PRICE
2022: $2,520,000
2021: $2,188,000
-2%
MEDIAN PRICE
2022: $1,605,000
2021: $1,637,500
Since 2019, the median home price in Lake Tahoe increased by 42% from $660,000 to $935,000.
Despite a decrease in volume, the Lake Tahoe market is still above pre-pandemic levels.
Crystal Bay, Nevada
Seller Representation
Incline Village, Nevada
Buyer Representation
Incline Village, Nevada
Seller Representation
Incline Village, Nevada
Seller Representation
Incline Village, Nevada
Seller Representation
Incline Village, Nevada
Seller Representation
Crystal Bay, Nevada
Seller Representation
Incline Village, Nevada
Buyer & Seller Representation
Incline Village, Nevada
Seller Representation
Incline Village, Nevada
Seller Representation
Incline Village, Nevada
Buyer Representation
Incline Village, Nevada
Seller Representation
Homeowners gather and celebrate life in the mountains at the Clear Creek Tahoe Club House before enjoying an invigorating meal with family and friends.
CLEARCREEKTAHOE.COM
Chase continues to lead the luxury real estate market, selling more homes over $5, $10 and $20 million year after year. We are proud to achieve $7 billion in three years, helping 8,396 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.
In 1996, Chase International represented the buyer and seller in the first residential property sold for over $20M in Lake Tahoe. The Dreyfus Reserve, which sold for $30,000,000, was the highest price sale in the United States that year.
In 2020, Chase International represented 14 transactions over $10,000,00, the most of any brokerage in the Tahoe, Truckee, Reno and Carson Valley region.
CHASE SUCCESS
Chase International represented 4 of 5 the top sales in 2021, including the second highest sale on record for $47,500,000 in Incline Village.
There is only one way to be successful year after year, and that is with the support of our colleagues, our clients, the community and our team of talented REALTORS®.
$60,000,000
Thunderbird Lodge
_
USA record residential sale held for 8 years 1998**
$36,000,000 Lucky Bluff
Celebrity Lakefront in Rubicon Bay 2021*
$34,500,000
Crayfish Cove
Highest price Lake Tahoe sale in 2015*
$32,500,000
Incline Village Lakefront
Highest price Lake Tahoe sale in 2008*
$49,000,000
Incline Village Lakefront _
Highest price Lake Tahoe sale in 2021*
$35,500,000 Crystal Coast
Highest Lake Tahoe land sale in 2021*
$33,000,000
The Bourne Estate
Highest price Lake Tahoe sale in 2001*
$32,500,000
Glenbrook Estate
Highest price Lake Tahoe sale in 2005*
$38,500,000
Crystal Pines
_
26 acres East Shore lakefront estate 2022**
$35,000,000
The Pines
13 acres East Shore lakefront estate 2020**
$32,500,000
Lakeshore Estate
Incline Village lakefront 2021*
$30,000,000
The Dreyfus Reserve
Highest price USA residential sale 1996**
luxury is a STATE OF MIND
CRYSTAL POINTE TAHOE | CRYSTAL BAY, NEVADA
Built with creativity, ingenuity and love, Crystal Pointe is an epic lakefront masterpiece cradling the contour of the land on 5.14 private acres on two lakefront parcels. 525’ of lakefront, four buoys, a newly acquired pier permit scheduled for construction in 2023, and 16,232 total square feet of living space. The property includes a primary residence, guest house and beach house, all located in tax-friendly Nevada.
Price upon request
Crystal Pointe Luxury Team | 775 750 2190
crystalpointetahoe.com
Move-in ready summer 2023. Presidio Vista Properties, developer responsible for 20 and 24 Crystal Dr., have created this 5,636 sq. ft. 5 bedrooms/ 7 baths masterpiece. Indoor, outdoor living is the theme for enjoying everyday with the ever changing Tahoe palette of colors & beauty of the Sierra. Quiet flexible spaces offer versatility for your lifestyle. Ro Rockett Design Architects have created a stunning modern interpretation of the classic lake cabin. The home encompasses three private and versatile living quarters connected by full-length vista glass bridges.
Exclusively offered at $28,850,000 Donovan Group Luxury Team | 775 750 2190 480Gonowabietahoe.com
61 Somers Loop, is located on Lake Tahoe’s Crystal Coastline in Crystal Bay, Nevada. This massive lakefront acreage is one of the last, great untouched swathes of land and includes one of Tahoe’s most prominent points. Throughout the 5.61 pristine acres on Lake Tahoe’s Crystal Coastline lies the opportunity to build your Nevada legacy estate compound that includes 1690 feet +/- of unrivaled shoreline. Its 360 degrees of top-of-the-world views are just the beginning of this paradise, found.
Exclusively offered at $24,800,000
Donovan Group Luxury Team | 775 750 2190
crystalcoasttahoe.com
Meticulously crafted contemporary home in Incline Village, Nevada with modern accents and stunning lake views.
Exclusively offered at $9,850,000 | Donovan Group Luxury Team | 775 750 2190 545eagletahoe.com
Timeless concrete and glass modern design home surrounded by a magical 5.7 acre setting with Panoramic lake views wrap the main level.
Hilton announced the signing of a brand and management agreement with EKN Development Group to welcome the iconic Waldorf Astoria Hotels & Resorts brand to Nevada’s Crystal Bay and Incline Village community with the all-season Waldorf Astoria Lake Tahoe, expected to debut in 2027. Situated on a 15-acre site, the mixed-use development will introduce 76 guest rooms and 61 best-in-class Waldorf Astoria branded residences to the highly sought-after Nevada side of Lake Tahoe. Managed by Hilton, the new build luxury hotel will mark Waldorf Astoria Hotels & Resorts’ first property in the treasured Sierra Nevada mountain range
“Now more than ever, our guests are seeking engaging experiences, from embracing local culture to connecting with nature. With Waldorf Astoria Lake Tahoe, guests will enjoy one of the finest natural settings at one of the most luxurious hotels in the destination,” said Matt Schuyler, chief brand officer, Hilton. “Bringing Waldorf Astoria’s distinguished hospitality to an extraordinary location like Lake Tahoe provides the perfect opportunity for travelers and residents to immerse themselves in the incredible, serene beauty that the destination offers while indulging in the authentic and sophisticated experiences for which the brand is renowned.”
“Our goal is to provide an immersive wellness philosophy to join with Tahoe’s natural beauty. By pairing the iconic brand of Waldorf Astoria with the nirvanic location of Lake Tahoe, two world-class gems become a true treasure – an unrivaled place to feel at home.”
EBBIE K. NAKHJAVANI OWNER | DEVELOPER WALDORF ASTORIA LAKE TAHOE
Waldorf Astoria Lake Tahoe will embrace the region's distinctive characteristics, exposing guests to the artistry of Mother Nature and introducing an unparalleled hospitality experience, creating an authentic sense of place and contemporary addition to the area. The contemporary architectural vocabulary will utilize clean lines, varied pitched roofs, deep terraces and balconies. The resort will feature a material palette of warm wood tones accented by darker natural stone, with complementary metal tones capturing and mirroring the magnificence of the Sierra Nevada Mountains. Waldorf Astoria Lake Tahoe and branded residences will sit atop a peninsula offering views of the cerulean lake and surrounding mountains. The construction of Waldorf Astoria Lake Tahoe represents a responsible approach to development with plans that include restoration of Lake Tahoe with an expected 90 percent reduction in sediment runoff into Lake Tahoe and a 38 percent reduction in total water and energy use.
The resort will feature a community grove that provides a lively promenade and hub for guests, residents and locals alike to enjoy shops, exceptional dining options, and more. Paying homage to the popular gaming history of Nevada, Waldorf Astoria Lake Tahoe will offer an upscale casino with live entertainment and a speakeasy for a contemporary getaway.
The experiences go beyond the property itself, offering both lakeside and slope-side options. Ideal for all seasons, the resort will offer a sophisticated three-acre lakefront beach club on the North Shore of Lake Tahoe, a gondola-side mountain club at NorthStar Ski Resort, and transportation to nearby golf clubs, hiking trails, and the region’s world-renowned slopes. At the resort’s mountain club, guests will enjoy effortless access to one of the finest year-round mountain resorts in North America, NorthStar California with a dedicated ski valet. As part of the beach club, guests staying at the first-class resort will have access to a private beach and mooring, a pier for direct lake access with unmatched activities and a resort-access-only signature restaurant and event hall.
Waldorf Astoria Lake Tahoe’s branded residences will be represented for sale by Mike Dunn at Chase International, one of the region’s top real estate firms. To learn more about the project, contact Mike Dunn at 775.901.6633 or visit waldorfastorialaketahoe.com
2,136 acres of prime mountain real estate surrounded by the six million acres of national forest complete with extensive amenities, world-class golf and an iconic lake house on stunning Lake Tahoe.
Homesites from $925,000 | Luxury homes from $5,985,000 | CLEARCREEKTAHOE.COM
40 mountain modern luxury condominiums located in Incline Village, Nevada, with direct access to unparalleled year-round adventure.
NINE47TAHOE.COM
65 luxury resort condominiums with stunning lake and mountain views. Thoughtful details seamlessly blend mountain modern design with an effortless lock-and-leave lifestyle.
TAHOECITYLODGE.COM
A once-in-a-lifetime opportunity to own one of the most coveted properties in Northern Nevada. The Genoa Lakes Golf Club consists of two championship golf courses, restaurants, banquet spaces, and wedding venues, all nestled in the foothills of the Sierra Nevada Mountains with absolutely breathtaking views.
Crystal Coast North 44 Somers Loop, 2021
$25,250,000 Sierra Star, 2016
$17,500,000 Alpine Acres Estate, 2022
$11,500,000 Hidden Waters, 2019
$10,700,000
73 Shoreline Circle, 2015
$9,150,000
1605 Pine Cone Circle, 2021
$8,400,000 951 Lakeshore, 2011
$7,400,000 169 Pine Point, 2006
$6,300,000 825 Lakeshore, 2020
$5,950,000
1143 Lakeshore, 2013
$5,350,000 444 Kent, 2016
$32,500,000 885/887 Lakeshore, 2021
$24,850,000 20 Crystal Drive, 2020
$16,900,000 1165 Lakeshore, 2020
$11,500,000 795 Ida Court, 2021
$10,500,000
Timberlake Lodge, 2003
$8,985,000
1637/1645 Pine Cone, 2009
$8,000,000 908 Lakeshore, 2019
$7,140,000 230 Estates, 2020
$6,200,000 517 CrossBow, 2020
$5,900,000 606 Lakeshore, 2021
$5,325,000 843 Lakeshore, 2013
$25,500,000 The Osprey Estate, 2012
$24,500,000 947 Lakeshore, 2019
$13,950,000 Champagne Estate, 2007
$11,300,000
1169 Lakeshore, 2010
$10,000,000
460/470/480 Gonowabie, 2018
$8,500,000
1675 Pine Cone Circle, 2013
$8,000,000 732 Lakeshore, 2021
$6,900,000 575 Fairview, 2020
$6,050,000 580/590 Lakeshore, 2020
$5,750,000 1565 Vivian, 2017
$4,760,000
539 Dale, 2023
$25,370,594 24 Crystal Drive, 2021
$19,750,000 Stonegate Estate, 2013
$13,500,000 55 Shoreline Circle, 2018
$10,900,000
678 Lakeshore, 2020
$9,800,000
947 Lakeshore, 2007
$8,500,000 1655 Pine Cone Circle, 2013
$7,400,000 1665 Pine Cone Circle, 2013
$6,800,000 757 Champagne, 2021
$5,995,000 545 Alpine View, 2022
$5,664,000 545 Eagle, 2020
$4,500,000
580 Ponderosa, 2022
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.
As members of Leading Real Estate Companies of the World, Chase International real estate is connected to a referral network of 565 of the foremost local, regional and international real estate firms, with 4,300 offices and 130,000 sales associates in the US and 70 countries. Collectively, we sell 1.1 million homes annually valued at $377 billion.
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.
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.
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.
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.
Representing over one billion dollars in sales, we are honored to represent the most distinguished clientele and their properties within a community that we are proud to call ‘home.” Throughout the decades, our preeminent clients have continued to trust our intuitiveness to their needs and respect for their investments. Today, as leaders in the sale of the markets’ most luxurious estates, and consistent top producers, we continue our honor-bound commitment to apply our global marketing expertise on our clients’ best behalf. As a family team, we pack a powerful punch. From our local market knowledge to our Bay Area background (and U.C. Berkley alumni contacts), we take great pride in engaging our connections to ensure the most rewarding and seamless transactions for all involved. Kevin is a TahoeReno local with sales acumen. Growing up in Incline Village and graduated from the University of Nevada Reno. All combined, we look forward to sharing our passion for our community and commitment to our clients who seek a real estate team with a zest for success.
Kerry Donovan Vice President of LuxuryDonovan Group Luxury Team
NV Broker Salesperson
CRS CLHMS | NV LIC # BS 52696
kdonovan@chaseinternational.com
775 750 2190
Luxury Sales Specialist
Donovan Group Luxury Team
NV Broker Salesperson
CRS CLHMS | NV LIC # BS 143530
mwarren@chaseinternational.com
775 303 2672
Luxury Sales Specialist
Donovan Group Luxury Team
REALTOR
NV LIC S 0194609
kevindonovan@chaseinternational.com
775 750 7339