2021 Tahoe Mountain Report

TAHOE MOUNTAIN REPORT TRUCKEE/TAHOE MARKET OVERVIEW

OFFICE LOCATIONS

NORTHSTAR 3001 Northstar Drive Truckee, CA 96161

OLD GREENWOOD 12915 Fairway Drive Truckee, CA 96161

GRAY’S CROSSING 11406 Henness Road Truckee, CA 96161

DOWNTOWN 10396 Donner Pass Road Truckee, CA 96161

530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | BRE 01995145 | PO Box 3757, Truckee, CA 96160

T R U C K E E / T A HO TRANSACTION VOLUME COMPARISON 2000

2,322

1800

1,848

1,746

1600

1,620

1,634

1400

1,428

1,488 1,377

1,252

1200

1,578

1,412

1000 800 600 400 0

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

$1,133,663

$1,489,861

AVERAGE SALES PRICE $2,000,000 $1,047,342

$1,000,000 $900,000

$821,430

$800,000

$832,540

$907,330 $854,649

$685,247

$700,000

$601,217

$600,000 $500,000

$759,693

$513,177

$400,000 $300,000 $200,000 $0

2011

2012

2013

2014

2015

2016

2017

w w w .TAHOEMOU N TAIN REALTY .c om

2018

2019

2020

2021

E M A R K E T OV E R V I E W (12 MO) RESIDENTIAL TRANSACTION BY PRICE POINT

SUMMARY

> $1MM

> $2MM

> $5MM

> $10MM

2013

178

63

10

2

2014

249

107

13

3

2015

202

73

17

1

2016

299

111

22

2

2017

346

105

23

2

2018

386

147

34

7

2019

348

94

25

5

2020

723

257

57

5

2021

875

284

76

20

ACTIVE LISTING INVENTORY 4000 3500 3000 2500 2000 1500 1000

1,393

1,598

1,803 1,075

0

766

683

500 2011

2012

2013

2014

2015

2016

640 2017

495 2018

516 2019

231

137

2020

2021

MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE $10,000,000 MARTIS CAMP

LAKEFRONTS

2011

$3,412,500

$2,937,500

2012

$3,300,000

$3,200,000

2013

$3,297,500

$3,450,000

2014

$3,333,140

$3,025,000

2015

$4,650,000

$3,651,774

2016

$4,325,000

$4,176,000

2017

$4,466,000

$4,176,000

2018

$4,675,000

$3,747,000

2019

$5,100,000

$4,287,500

2020

$5,626,000

$4,388,000

2021

$6,522,000

$8,574,143

$8,000,000

$6,000,00

$4,000,000

$2,000,000 $0 2009 2011 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

D a ta collec ted January – Decemb er 2 0 2 1. Data c o n tai n ed i n th i s re por t is from the T a hoe Sie rra B oa rd of R e a ltors. Infor m a t ion is d e e me d rel i abl e b u t n o t g u aran teed . Co n sul t yo u r T a hoe Mounta in R e a lty B rok e r for m ore inform a tion.

MARKET NEWS Greetings – 2021 was a most remarkable year for Tahoe-Truckee real estate as the surge of consumers seeking an enhanced lifestyle continued for a second year. Demand overwhelmed supply in a manner that delivered multiple bids in a predictable fashion to well-informed sellers. While the total supply of listings over the course of the year was generally equivalent to recent years, the rate at which new supply was absorbed was so swift, that shoppers were often left with very few options.

Coming off the most prolific year ever for property in the Tahoe – Truckee region, inventory held at a remarkably low but steady supply at 6 weeks, with transaction volume restrained only by available options. Ultimately, just shy of 1900 residential properties transacted over the course of the year, the most ever but for the previous year.

Predictably, as demand overwhelms supply, prices surged higher. Despite 20% fewer transactions, the total dollar volume was nearly equivalent compared to the previous year. Both average and median price moved in unison showing appreciation of approximately 30% year over year. Compounding the gains of 2020, the market has accelerated by over 50% in the span of two years. This surge in pricing drove nearly 50% of all residential transactions to prices over $1,000,000. This benchmark, previously the threshold for luxury property, has become the median value throughout the region.

In addition to Martis Camp, well amenitized resort communities including Lahontan, Old Greenwood, Schaffer’s Mill, and Clear Creek have been particularly appealing to the consumer seeking modern design, simple living, and easy access to nature. Properties within winter resorts, most notably Northstar’s Mountainside and Village Walk Skyline communities have sold through new development in record time. These communities as well as Sugar Bowl and Olympic Valley are equally starved for quality inventory at the outset of 2022.

If no other lessons have been learned over the last two years, any attempt at predicting what may come is a fool’s errand. Nevertheless, from the perspective of a brand-new year, historically tight supply combined with a captive audience of would-be purchasers would seem to indicate that robust market conditions will be here for some time to come.

Best regards, Jeff Brown

General Manager Tahoe Mountain Realty

530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | BRE 01995145 | PO Box 3757, Truckee, CA 96160