Q4 2019 South Lake Tahoe Market Report

South Lake Tahoe

Market Report Q4 2019

Cover Property: 1707 Sherman by Gregory Ochoa

PRESENTED BY

LUXURIOUS EXQUISITE ALLURING DIVINE BREATHTAKING ASTONISHING BRILLIANT DAZZLING CAPTIVATING DREAM MODERN ENTICING SOPHISTICATED EXCEPTIONAL MAGNIFICENT HARMONIOUS MARVELOUS OLIVER OUTSTANDING FINE UNMATCHED LUXURY REAL ESTATE STATELY STRIKING ENCHANTING KEY ENTHRALLING STYLISH STUNNING TIMELESS ICONIC CHRISTIE’S UNPARALLELED SERENE INTERNATIONAL WARM UPSCALE WELCOMING ELEGANCE SENSATIONAL FABULOUS SPECTACULAR GLOBAL CONNECTIONS | LOCAL RESULTS SOUTH LAKE TAHOE OFFICE 212 ELKS POINT RD. 775.589.7100 OLIVERLUX.COM

FEATURED: 1707 SHERMAN by Gregory Ochoa | 775.339.1919

A Lake View home next to Heavenly Ski Resort! This very spacious 4,000sf, 7 bed, 4 bath, situated on a private .32 acre corner lot making it the ideal family or corporate retreat. The house was perfectly designed featuring an open kitchen/living/dining area sitting beneath wood beamed vaulted ceilings, 2 large balconies, a game room, an enclosed hot tub area, and 2 gas fireplaces. The gourmet kitchen features Viking stainless steel appliances, slab granite counters, a large island, custom cabinets, and jaw dropping lake views overlooking the copper sink. This home is only 2 miles from the Village which features the areas top restaurants, shopping, and nightlife activities.

EXCEPTIONAL PROPERTIES. EXTRAORDINARY LIVING. Oliver Luxury Real Estate is a boutique real estate firm specializing in luxury properties. We connect extraordinary people with some of the finest homes in the world by using our extensive knowledge, global affiliate network, and sincere approach to give them the insider treatment they deserve.

OLIVERLUX.COM

5 6

South Lake Tahoe Neighborhoods

1

1 Cascade Properties

3

2 Fallen Leaf Lake 4

3 Tahoe Keys 4 Y Area 7

5 Stateline 6 Heavenly Valley

2

8

7 Pioneer Trail 8 Montgomery Estates

9

9 Country Club Estates 10

10 Meyers

QUARTERLY COMMENTARY EXCLUSIVE MARKET INSIGHTS FROM OUR TEAM

We’ve seen an increase in single family median home prices every year for the last 8 years, since 2012. The median home price in South Lake Tahoe as of November 2019 is currently $484,500. We are almost back to our April 2006 median home prices that peaked at $489,000.

-Michelle Keck Broker Associate/Agent Oliver Luxury Real Estate

SINGLE FAMILY: LAKEFRONT

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$4,086,000

$5,200,000

$344,000

$5,600,000

+185.14% $4,000 $3,000 $2,000

+300% $6,000

$5,000

$1,433,000

$4,000 $2,000

$1,000 $0

Q4 2019

+229.41%

$500

$6,000 $4,000

$1,299,000

$0

Q4 2018

Q4 2019

$1,700,000

$2,000 $0

Q4 2018

Q4 2019

Q4 2018

Q4 2019

TOTAL DOLLAR VOLUME SOLD

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$16,344,000

63

4

97.12%

+280.18% $20

$10

$1,000

$1,300,000

$0

Q4 2018

$15

-73.52% $1,500

$4,299,000

$5

-59% 4

150

3

100

2

50

$0

153.67

1

0

Q4 2018

Q4 2019

+0.12%

+33.33%

200

100.00%

3

4

Q4 2019

50.00%

97.00%

97.12%

Q4 2018

Q4 2019

25.00%

0

Q4 2018

75.00%

0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

SINGLE FAMILY: NON-LAKEFRONT

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$534,315

$459,500

$187,500

$2,225,000

-3.32% $600 $400 $200

+1.21%

$534,315

$300 $200 $0

Q4 2019

$200 $100

$2,500 $2,000 $1,500

$260,500

$1,000

$187,500

$0

Q4 2018

Q4 2019

$2,127,500

$2,225,000

Q4 2018

Q4 2019

$500 $0

Q4 2018

Q4 2019

TOTAL DOLLAR VOLUME SOLD

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$91,902,100

97

172

96.56%

+21.38% $100 $75

$25

$459,500

$454,000

$100

Q4 2018

+4.58%

$300

$400

$552,638

$0

$50

-28.02%

$500

$75,711,380

$91,902,100

-9.75% 200

100.00%

100

150

75.00%

75 50

107

97

Q4 2018

Q4 2019

25

$0

0

Q4 2018

Q4 2019

-0.45%

+25.55%

125

100 50

137

172

0

50.00%

97.00%

96.56%

Q4 2018

Q4 2019

25.00% 0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

CONDO: LAKEFRONT

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$350,000

$350,000

$275,000

$425,000

-75.58% $1,500 $1,000

$1,433,000

$500

-73.08% $1,500

$1,000

$1,000

$500

$0

$1,300,000

Q4 2019

-75% $2,000 $1,500

$1,299,000

$1,000 $500

$0

Q4 2018

Q4 2019

$1,700,000

$0

Q4 2018

Q4 2019

Q4 2018

Q4 2019

TOTAL DOLLAR VOLUME SOLD

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$700,000

52

2

95.38%

-83.72%

-66.48%

$5

200

$4

150

$2

$500

$0

Q4 2018

$3

-78.83%

$1,500

$4,299,000

100 50

$1 $0

2

154

Q4 2019

100.00% 75.00%

3 2

1

0

Q4 2018

+0.4%

-33.33% 3

0

Q4 2018

Q4 2019

50.00%

95.00%

95.38%

Q4 2018

Q4 2019

25.00% 0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

CONDO: NON-LAKEFRONT

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$463,382

$315,000

$207,000

$1,105,000

+2.35% $400 $300 $200

=0.00% $800

$500

$452,735

$463,382

$600

$100

$200

$0

$0

Q4 2018

$315,000

Q4 2019

$1,500

$150

$215,000

$207,000

$1,000

$50

$500

$0

$0

Q4 2019

Q4 2018

Q4 2019

$1,700,000 Q4 2018

$1,105,000 Q4 2019

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$6,023,960

130

13

98.45%

-21.73% $4

$200 $100

Q4 2018

-35% $2,000

TOTAL DOLLAR VOLUME SOLD

$8 $6

$315,000

$400

-3.72% $250

+32.3% 150

$7,696,500

$2

100

$6,023,960

$0

50

98

130

0

Q4 2018

Q4 2019

+2.88%

-23.53% 20

100.00%

15

75.00%

10 5

17

50.00%

13

0

Q4 2018

Q4 2019

95.69%

98.45%

Q4 2018

Q4 2019

25.00% 0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

TAHOE KEYS: SINGLE FAMILY

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$1,350,714

$932,000

$560,000

$5,300,000

+33.92% $1,500

$1,008,621

$1,350,714

$750 $500

$932,000

Q4 2018

Q4 2019

$0

Q4 2018

Q4 2019

$200

$4,000

$560,000

$450,000

$2,127,500

$2,000

$0

$0

Q4 2018

Q4 2019

Q4 2018

Q4 2019

TOTAL DOLLAR VOLUME SOLD

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$18,910,000

136

14

95.64%

+33.92% $20

-2.15%

$14,120,700

$18,910,000

$0

100 50

30

139

136

0

Q4 2018

Q4 2019

+16.63%

=0.00%

150

$15

$5

+149.12% $6,000

$400

$1,075,000

$250

$0

$10

+24.44% $600

$1,000

$1,000 $500

-13.3% $1,250

20

14

14

100.00%

50.00% 10

25.00%

0

Q4 2018

Q4 2019

75.00%

82.00%

95.64%

0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

Q4 2018

Q4 2019

TAHOE KEYS: CONDO

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$310,000

$310,000

$310,000

$310,000

-35.37% $500 $400 $300 $200

-33.9% $400

$479,667

$300

$310,000

$100 $0

Q4 2018

$200

$469,000

$0

Q4 2018

-52.67%

$400

$800

$300

$600

$200

$310,000

$100

Q4 2019

$100

$315,000

$310,000

Q4 2018

Q4 2019

$400 $200

$0

Q4 2019

$655,000

$0

Q4 2018

Q4 2019

TOTAL DOLLAR VOLUME SOLD

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$620,000

105

2

93.24%

-56.91% $2 $1

-1.59%

$500

+27.44% 125 100

$1,439,000

75 50

$1

25

$0

82

105

0

Q4 2018

Q4 2019

-3.26%

-33.33% 3 2

100.00% 75.00%

3 2

1 0

Q4 2018

Q4 2019

50.00%

96.38%

93.24%

Q4 2018

Q4 2019

25.00% 0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

SOUTH LAKE: SINGLE FAMILY

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$615,035

$460,000

$187,500

$5,600,000

+11.29%

+1.32%

$800

$500

$600

$400

$400 $200

$552,638

$615,035

Q4 2018

Q4 2019

$0

$300 $200

$454,000

$460,000

Q4 2018

Q4 2019

$100 $0

$100

$4,000

$260,500

$2,127,500

$2,000

$187,500

$0

Q4 2018

Q4 2019

Q4 2018

Q4 2019

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$108,256,100

117

176

96.55%

+8.97% 125

$100

100

$75

75

$0

$200

$0

+42.97%

$25

+163.22% $6,000

TOTAL DOLLAR VOLUME SOLD

$125

$50

-28.02% $300

$75,711,380 Q4 2018

$108,246,100

50

107

117

Q4 2018

Q4 2019

0

Q4 2019

100.00%

150

75.00%

100 50

25

+0.3%

+28.47% 200

137

176

50.00%

96.36%

96.65%

Q4 2018

Q4 2019

25.00%

0

0.00%

Q4 2018

Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

SOUTH LAKE: CONDO

AVERAGE SALES PRICE

MEDIAN SALES PRICE

LOWEST SALES PRICE

HIGHEST SALES PRICE

$448,264

$315,000

$207,000

$1,105,000

-25.26% $600 $400

-11.89% $400 $300

$599,775

$448,264

$200 $0

$200

$357,500

$100 $0

Q4 2018

Q4 2019

Q4 2018

$200

$1,500

$150 $100

$215,000

$207,000

$1,000

$50

$500

$0

$0

Q4 2019

Q4 2018

Q4 2019

$1,700,000 Q4 2018

$1,105,000 Q4 2019

AVERAGE DAYS ON MARKET

TOTAL PROPERTIES SOLD

% SOLD PRICE TO LIST PRICE

$6,723,960

120

15

98.11%

-43.95% $10 $5

-35% $2,000

TOTAL DOLLAR VOLUME SOLD

$13 $8

$315,000

-3.72% $250

$11,995,500

$0

Q4 2018

Q4 2019

+2.98%

-28.57% 25

100.00%

150

20

75.00%

100

$6,723,960

$3

-22.39% 200

50

154

0

Q4 2018

15

120 Q4 2019

10

21

5 0

Q4 2018

50.00%

15 Q4 2019

775.589.7100 | 212 ELKS POINT RD. | OLIVERLUX.COM

95.27%

98.11%

Q4 2018

Q4 2019

25.00% 0.00%

212 ELKS POINT RD.

|

OLIVERLUX.COM

|

775.589.7100

INCLINE VILLAGE | TAHOE CITY | ZEPHYR COVE | TRUCKEE | RENO