Truckee Tahoe Luxury Trends - 2nd Quarter

Luxury Trends 2nd Quarter 2022 Tahoe/Truckee Market Report

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11635 Sawtooth Court $1,500,000 Martiswoods Estates DicksonLuxury.com

WELCOME TO OUR 2ND QUARTER 2022

COVER PROPERTY FEATURED

11635 SAWTOOTH COURT MARTISWOODS ESTATES MLS # 20221638

LUXURY HOME MARKET REPORT

The landscape of the Truckee-Tahoe real estate market has undergone a change, with a more “normal” level of activity than we’ve experienced over the past 2+ years. This slower trend for real estate sales should prove to be a “not so frenzied experience” for buyers and yet will still allow sellers the opportunity to realize significantly high prices.

However, with prices rising dramatically over the past couple of years, we are increasing our “luxury home” price point to start at $1,250,000. From January thru June of 2020, there were just 86 homes sold at or above $1,250,000, whereas for the same period this year, there were 242 homes sold.

The actual number of homes sold these first 2 quarters of 2022 was almost identical to the number sold during the same first 6 months of 2021. Average sales prices as well as average prices per square foot were up just slightly, but the average days on the market decreased by about 2 weeks.

We expect standing inventory to increase over the next month or so, but we expect a slowdown in price appreciation. And although almost half of the luxury home sales are cash purchases, those needing to obtain a loan should be aware that financial experts expect interest rates to rise again by the end of July.

Wishing everyone a beautiful summer, wherever you are, and hopefully it’s in our beautiful Truckee Tahoe region!

—Broker/Manager, Dickson Realty Truckee

Luxury Home Averages Over $1.25 Million January - June 2022 compared to January - June 2021

-1%

+2%

+6%

-27%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2022: 242 2021: 244

2022: $2,875,142 2021: $2,808,590

2022: $951 2021: $895

2022: 33 2021: 45

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of July 11th, 2022

Luxury Home Sales over $1.25 Million Truckee NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

Palisades Tahoe NUMBER OF SALES

167 $2,900,068 $14,400,000

North Shore, Lake Tahoe, CA NUMBER OF SALES AVERAGE SALES $ HIGHEST SALE $

HIGHEST SALE $

$5,950,000

AVERAGE SALES $

$23,650,000

HIGHEST SALE $

18 $2,318,333 $6,000,000

Active Listings Over $1.25 Million

$5,000,001 and higher

$5,000,001 and higher

10%

19%

14%

$1,250,000– $2,000,000

44%

$3,000,001– $5,000,000

18%

$2,000,001$3,000,000

25%

$2,840,000

NUMBER OF SALES

Sold Listings Over $1.25 Million $3,000,001– $5,000,000

AVERAGE SALES $

West Shore, Lake Tahoe, CA

30 $3,128,600

15

$1,250,000– $2,000,000

$2,000,001$3,000,000

51% $1,250,000– 123 Sold Listings $2,000,000 $1,534,817 Average Price

$1,250,000– 76 Active Listings $2,000,000 $1,592,705 Average Price

$2,000,001– 61 Sold Listings $3,000,000 $2,501,031 Average Price

$2,000,001– 33 Active Listings $3,000,000 $2,579,242 Average Price

$3,000,001– 35 Sold Listings $5,000,000 $3,974,542 Average Price

$3,000,001– 30 Active Listings $5,000,000 $4,065,068 Average Price

$5,000,001 23 Sold Listings and higher $9,362,173 Average Price

$5,000,001 32 Active Listings and higher $11,869,343 Average Price

20 Average Days On Market

37 Average Days On Market

61 Average Days On Market

50 Average Days On Market

19%

37 Average Days On Market

45 Average Days On Market

78 Average Days On Market

46 Average Days On Market

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of July 9th, 2022

Recent Dickson Sales

$4,190,000

Seller Representation by Dickson Realty

$3,100,000

Seller Representation by Dickson Realty

$2,750,000

Buyer Representation by Dickson Realty

$3,500,000

Donner Lake

Buyer Representation by Dickson Realty

Lahontan

Buyer Representation by Dickson Realty

Tahoe Donner

Seller Representation by Dickson Realty

$2,950,000

$2,510,000

Incline Village

Carnelian Bay

Tahoe Donner

Recent Dickson Sales

$2,375,000

Seller Representation by Dickson Realty

$2,260,000

Seller Representation by Dickson Realty

$2,200,000

Buyer Representation by Dickson Realty

$2,300,000

Tahoe Donner

Buyer Representation by Dickson Realty

Tahoe Donner

Buyer Representation by Dickson Realty

Tahoe Donner

Seller Representation by Dickson Realty

$2,210,000

$2,155,000

Grays Crossing

Tahoe Donner

Tahoe Donner

Recent Dickson Sales

$2,000,000

Buyer & Seller Representation by Dickson Realty

$1,799,000

Seller Representation by Dickson Realty

$1,610,000

Buyer & Seller Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Tahoe Donner

$1,945,000

Buyer & Seller Representation by Dickson Realty

$1,681,000

Seller Representation by Dickson Realty

$1,600,000

Seller Representation by Dickson Realty

Northstar

Tahoe Donner

Truckee Business Park

Recent Dickson Sales

$1,575,000

Buyer Representation by Dickson Realty

$1,425,000

Seller Representation by Dickson Realty

$1,375,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Cambridge Estates

$1,475,000

Skyland

Buyer Representation by Dickson Realty

$1,376,000

Buyer & Seller Representation by Dickson Realty

$1,375,000

Buyer Representation by Dickson Realty

Tahoe Donner

Tahoe Donner

Recent Dickson Sales

$1,315,000

Seller Representation by Dickson Realty

$1,300,000

Seller Representation by Dickson Realty

$1,258,000

Seller Representation by Dickson Realty

$1,300,000

Tahoe Donner

Buyer Representation by Dickson Realty

Tahoe Donner

Seller Representation by Dickson Realty

Tahoe Donner

Buyer & Seller Representation by Dickson Realty

$1,300,000

$1,250,000

Tahoe Donner

Northstar

Donner Lake

Current Luxury Listings In Escrow

$7,000,000

Rue Ivy MLS#20202885

$2,395,000

13595 Hillside Drive MLS# 20221571

$1,899,000

1065 Martis Landing MLS# 20220776

Truckee

Tahoe Donner

Northstar

$3,000,000

11820 Eagle Lakes Road #MLS 20220989

$2,250,000

14498 Swiss Lane MLS# 20220854

$1,800,000

Glenshire Drive MLS# 20220005

Donner Summit

Tahoe Donner

Glenshire

Current Luxury Listings

$1,699,000

14627 Alder Creek Road MLS# 20221313

$1,595,000

11426 Lausanne Way MLS# 20221192

$1,685,000

Tahoe Donner

1155 Canterbury Drive MLS# 20221568

Tahoe Donner

11635 Sawtooth Court MLS# 20221638

$1,500,000

Kingswood Estates

Martiswoods Estates

Old Greenwood

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$2,037,442

-.8%

$2,053,363

FROM LAST YEAR

MEDIAN PRICE

$1,692,327

-8%

$1,840,090

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+1100% FROM LAST YEAR

UNITS SOLD

0%

FROM LAST YEAR

24

2

DAYS ON MARKET

6 UNITS SOLD

6

Gray’s Crossing

January- June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$2,640,870

+23.9%

$2,131,983

FROM LAST YEAR

MEDIAN PRICE

$2,700,000

+27.1%

$2,125,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+67%

FROM LAST YEAR

UNITS SOLD

-17%

FROM LAST YEAR

25

15

DAYS ON MARKET

10

UNITS SOLD

12

Lahontan

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price AVERAGE $

2022 2018 2021

AVERAGE PRICE

+6.2%

$3,817,442 $3,594,444

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+9%

$3,895,000 $3,575,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+33%

FROM LAST YEAR

UNITS SOLD

+89%

FROM LAST YEAR

53

40

DAYS ON MARKET

17 UNITS SOLD

9

Schaffer’s Mill

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price AVERAGE $

2022 2018 2021

AVERAGE PRICE

+45.5%

$2,806,535 $1,929,166

FROM LAST YEAR

MEDIAN $

MEDIAN PRICE

+28.4%

$2,375,000 $1,850,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+66%

FROM LAST YEAR

UNITS SOLD

+56%

FROM LAST YEAR

53

32

DAYS ON MARKET

14 UNITS SOLD

9

Martis Camp

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$9,851,875

+49.8%

$6,575,961

FROM LAST YEAR

MEDIAN PRICE

$10,197,500

+81.3%

$5,625,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

-23%

FROM LAST YEAR

UNITS SOLD

-38% FROM LAST YEAR

41

53

DAYS ON MARKET

16

26

UNITS SOLD

Northstar

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$1,997,440

-15.6%

$2,344,064

FROM LAST YEAR

MEDIAN PRICE

$1,840,000

-6.3%

$1,964,169

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

-35%

FROM LAST YEAR

UNITS SOLD

+17%

FROM LAST YEAR

42

65

DAYS ON MARKET

28

24

UNITS SOLD

Palisades Tahoe

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$2,422,022

+17%

$2,070,190

FROM LAST YEAR

MEDIAN PRICE

$2,387,500

+29.8%

$1,839,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

-11%

FROM LAST YEAR

UNITS SOLD

-8%

FROM LAST YEAR

72

81

DAYS ON MARKET

22

24

UNITS SOLD

Lake Tahoe, CA – North Shore

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$2,866,810

+24.8%

$2,297,757

FROM LAST YEAR

MEDIAN PRICE

$1,860,000

+14%

$1,632,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+14%

FROM LAST YEAR

UNITS SOLD

-14%

FROM LAST YEAR

42

37

DAYS ON MARKET

37

43

UNITS SOLD

Lake Tahoe, CA – West Shore

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$2,263,250

-40.6%

$3,808,055

FROM LAST YEAR

MEDIAN PRICE

$1,670,000

-19.5%

$2,075,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

-54%

FROM LAST YEAR

UNITS SOLD

-44%

FROM LAST YEAR

30

65

DAYS ON MARKET

20

36

UNITS SOLD

Tahoe Donner

January-June 2022 vs. 2021 Average vs. Median Average vs. Median Price

MEDIAN $

AVERAGE $

2022

2021

AVERAGE PRICE

$1,683,210

+9.8%

$1,533,272

FROM LAST YEAR

MEDIAN PRICE

$1,560,000

+9.5%

$1,425,000

FROM LAST YEAR

Average Days on Market vs. Units Sold 2022

2021

DAYS ON MARKET

+38%

FROM LAST YEAR

UNITS SOLD

+68% FROM LAST YEAR

18

13

DAYS ON MARKET

69 UNITS SOLD

41

INDUSTRY-LEADING SALES. As a member of Leading Real Estate Companies of the World,® our company is a global — not just local — real estate company working on your behalf. LeadingRE provides world-class marketing and resources, allowing us to provide the very best services. Our invitation-only network was responsible for $405 billion in annual home sales volume among the top 500 U.S. real estate firms in 2021.

2021 U.S. HOME SALES VOLUME AMONG THE TOP 500 U.S. REAL ESTATE FIRMS.

$405

LEADINGRE

$353

KELLER WILLIAMS

NETWORKS, FRANCHISES AND COMPANIES

$317

COLDWELL BANKER

$251

COMPASS BERKSHIRE HATHAWAY HOMESERVICES

$139 $132

EXP REALTY SOTHEBY’S INTERNATIONAL REALTY

$115

RE/MAX

$113 $39

CENTURY 21

$35

HOMESMART INTERNATIONAL

Volume shown in billions of dollars.

For informational purposes only. In compiling this report, LeadingRE relies on third party sources. The information set forth in the chart above is sourced from REAL Trends Top 500 for 2021, realtrends.com. Neither LeadingRE nor its member companies are responsible for the accuracy of third-party data presented herein.

1.2

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$586

billion total annual home sales volume

550

companies

4,700 offices

136,000 sales

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© 2022 Dickson Realty. NV Lic #B.0019733. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.

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