2026 Chase International Spring-Summer Luxury Report

LUXURY

REAL ESTATE MARKET REPORT

SPRING-SUMMER 2026

| RENO-SPARKS

SUMMER AT ITS FINEST ON LAKE TAHOE RUBICON LEGACY | OFFERED AT $30,000,000

LISTED

BY

TRINKIE WATSON

Chase life.

There is a moment every year when the Sierra surrenders. The last of the snowpack releases its hold on the granite peaks, the lake shakes off its winter stillness, and something electric moves through the air — equal parts exhale and inspiration. That is the moment we live for. That is Tahoe in summer, and there is nothing else like it anywhere on earth.

The biggest real estate story in Lake Tahoe history just unfolded in our own backyard. A lakefront estate in Incline Village sold for $132 million — doubling the previous record and landing among the most significant residential transactions in the country this year. It is a statement about what this market means to the world's most discerning buyers: not just a home, but a conviction.

The former Cal Neva is waking up. With nearly $300 million in financing secured, the legendary property, once Frank Sinatra's domain, once the address of Hollywood royalty, is being reborn as Lake Tahoe Proper Resort & Casino, with interiors by the iconic Kelly Wearstler and a 2027 opening on the horizon. The North Shore's most storied chapter is being written again.

Here at Chase International, we have a story of our own. After four decades under Shari Chase's vision, Susan Lowe and Georgia Chase acquired Chase International from the woman who built something truly remarkable from the ground up. This was not just a business transaction — it was a passing of the torch between people who love this company and have given their lives to building it. Shari remains with us as Founder and Chair Emeritus, her spirit alive in everything we do. What continues is the culture she instilled in us. What's new is the fire we bring to carrying it forward.

This summer marks our 30th Annual Lake Tahoe Luxury Estates Tour — three decades of opening remarkable doors. This year's tour showcases two of the region's most prestigious communities: Clear Creek Tahoe, where Chase International has now facilitated over one billion dollars in real estate sales, and the iconic estates of Lake Tahoe's most celebrated shoreline. A milestone worth celebrating, and we'd love to celebrate it with you.

Then there is Reno, and if you haven't been paying attention, now is the time. California buyers are choosing Reno over Las Vegas. Tesla, Switch, Apple, and a wave of data centers have quietly built one of the most durable economic foundations in the American West. The $1 billion expansion at Grand Sierra Resort, the largest private investment in Reno history, signals something bigger: a city no longer defined by gaming, but by growth. Add a legitimate culinary scene, a thriving arts community, and immediate access to Lake Tahoe, and the picture becomes clear. Reno isn't a boom town. It's becoming something more rare, a livable, opportunity-rich alternative to the cities people are quietly leaving behind.

Luxury wishes,

GEORGIA CHASE PRESIDENT | OWNER

SUSAN LOWE CORPORATE BROKER | OWNER

HOMEWOOD LEGACY LAKEFRONT | OFFERED AT $26,000,000

LISTED BY TRINKIE WATSON

Cover Reveal

High above the Tahoe shoreline, where snowmelt feeds hidden alpine meadows and the air carries the silence of the mountains, even the smallest wildflowers feel cinematic.

WELCOME

LUXURY INSIGHTS

2025 LUXURY & LAKEFRONT STATISTICS

RESHAPING TAHOE’S NEVADA MARKET

CHASE SIGNIFICANT SALES

CHASE SALES STATISTICS

CHASE LUXURY COLLECTION

LUXURY

CRYSTAL MODERN | SOLD FOR $25,500,000 BY THE DONOVAN GROUP LUXURY TEAM

luxury Insights

LAKE TAHOE

Through the first four months of 2026, the Lake Tahoe luxury market has demonstrated remarkable strength. Incline Village leads the region with a stunning 211% increase in sales volume, reaching $229,779,000, alongside a 50% rise in units sold and a 32% jump in median price to $2,725,000. The East Shore held steady in volume while units increased 9%. South Lake Tahoe saw softer activity, with volume and units both declining. The West Shore saw a 27% increase in units sold despite a modest dip in volume.

Lakefront sales tell an even more compelling story. Incline Village and Crystal Bay surged 506% in volume to $71,500,000, with a median price of $35,750,000 — a 203% increase. The East Shore recorded three lakefront transactions totaling $42,950,000, up 87% in volume. The North Shore and West Shore also posted gains, while the South Shore has yet to record a lakefront sale in 2026.

Chase International has been at the center of the market's most significant transactions. Notable sales include 460 Gonowabie Road in Crystal Bay at $25,500,000, 575 Fairview Blvd in Incline Village at $12,675,000, and 106 Slott Peak Court in Incline Village at $10,200,000 — all seller-represented. At Clear Creek Tahoe, Chase represented both buyers and sellers in the sales of 188 Redding Way at $9,200,000 and 205 Redding Way at $7,100,000, and represented the seller in the $8,000,000 sale of 533 Driver Way in Incline Village.

TRUCKEE

The Truckee market remained active through the first four months of 2026, with 92 transactions and a median price of $1,850,000. Martis Camp continues to lead the area's high-end activity, highlighted by a $21,500,000 sale and two additional notable closings, a $9,400,000 off-market transaction in February and a $7,000,000 sale on the same street. With a Martis Camp median of $6,600,000 across eight sales, demand from high-net-worth buyers shows no signs of slowing.

RENO-SPARKS

Reno-Sparks delivered a strong start to 2026, with 196 transactions over $1,000,000 totaling $342,655,630 in volume through April — a 25% increase over the same period last year, and a 23% rise in units sold. The median price held steady at $1,399,000.

The market's most notable sale was 2505 Holcomb Ranch Lane, a rare 15-acre land transaction that closed at $8,000,000. Also, 3820 Frost Lane sold for $6,300,000, further underscoring strong demand at the upper end of the Reno market.

CARSON VALLEY

Carson Valley posted a solid 25% increase in both volume and units sold over $1,000,000 through April 2026, reaching $90,612,628 across 45 transactions, with a median price of $1,381,500. Clear Creek Tahoe anchored the market's highestprofile activity, with Chase International representing both buyers and sellers in two significant transactions — 188 Redding Way at $9,200,000 and 205 Redding Way at $7,100,000 — reflecting continued strong demand for the region's premier mountain golf community. These sales contribute to a landmark milestone: Chase International has now facilitated over one billion dollars in real estate sales in Clear Creek Tahoe

LAKE ALMANOR

Lake Almanor continued to gain momentum through the first four months of 2026, with volume up 139% and units tripling, from 1 to 3, with homes sold for over $1,000,000. The median price was $1,275,000. The market's standout sale was 638 Peninsula Drive at $1,875,000, with Chase International representing both buyer and seller — a strong signal of the firm's growing presence in this emerging market.

Properties Sold Over $1 Million

East Shore

from stateline north to glenbrook, ne vada

South Lake Tahoe california

p 0%

VOLUME

2026: $80,726,000

2025: $80,499,999

 19%

VOLUME

2026: $50,004,500

2025: $61,438,185

West Shore

california

Incline Village

ne vada

 2%

VOLUME

2026: $47,074,000

2025: $48,072,905

p 211%

VOLUME

2026: $229,779,000 2025: $73,871,000

p 9% UNITS

2026: 24

5%

MEDIAN PRICE

2026: $1,637,500

 3%

VOLUME

2026: $254,764,279

2025: $262,837,263

32% UNITS

2026: 30 2025: 44

p 27%

UNITS

2026: 14

2025: 11

p 50%

UNITS

2026: 42

2025: 28

2025: 22  4%

UNITS

2026: 92

2025: 96

MEDIAN PRICE

2026: $1,347,000

 10%

2025: $1,343,893

MEDIAN PRICE

2026: $1,528,500

p 32%

2025: $1,700,000

MEDIAN PRICE

2026: $2,725,000

2025: $1,725,000  3%

2025: $2,057,500

MEDIAN PRICE

2026: $1,850,000

2025: $1,900,000 0%

North Shore

california

 14%

VOLUME

2026: $34,022,777

2025:$39,392,000

Reno/Sparks

ne vada

p 25%

VOLUME

2026: $342,655,630 2025: $273,584,912

 6% UNITS

2026: 16 2025: 17  11%

MEDIAN PRICE

2026: $1,642,000 2025: $1,845,000

p 23% UNITS 2026: 196 2025: 159

 2% MEDIAN PRICE

2026: $1,399,000 2025: $1,430,000

Carson City

ne vada

 49%

VOLUME

2026: $3,475,000 2025: $6,857,438

Carson Valley

ne vada

p 25%

VOLUME

2026: $90,612,628 2025: $72,552,479

 50% UNITS

2026: 3 2025: 6

p 3% MEDIAN PRICE

2026: $1,150,000

2025: $1,115,000

p 25% UNITS 2026: 45 2025: 36

p 6%

MEDIAN PRICE

2026: $1,381,500

2025: $1,302,500

Lake Almanor california

p 139%

VOLUME

2026: $4,355,000 2025: $1,825,000

p 200% UNITS

2026: 3 2025: 1

 30%

MEDIAN PRICE

2026: $1,275,000 2025: $1,825,000

Tahoe Lakefront Sales

SINGLE FAMILY RESIDENTIAL HOMES | JANUARY 1 - APRIL 30

PRICE $15,000,000 2026 $42,950,000 2026

2026

2026 $11,800,000 2025 $11,800,000 2025

Tahoe Lakefront Sales

SINGLE FAMILY RESIDENTIAL HOMES | JANUARY 1 - APRIL 30

Timeless by Design

Why Lake Tahoe luxury real estate has outlasted every cycle and why the next generation is already paying attention.

There is a question that serious buyers ask about every market they consider, and it is the right one: what happens here when things get hard? When rates rise, when sentiment shifts, when the headlines turn cautious — how will the real estate market react?

In most markets, the honest answer is complicated. In Lake Tahoe, it is surprisingly simple. The lake holds.

Not because Tahoe is immune to economic gravity — no market is. But because the forces that drive long-term value here are not the same forces that drive value in conventional markets. They are older, more durable, and largely immune to the variables that send other luxury markets into prolonged correction. Understanding why requires looking not at the last quarter, but at the last several decades.

What You Cannot Build More Of

The most fundamental driver of Tahoe's long-term value is also the most obvious: you cannot make more of it. The shoreline is fixed. The lakefront lots that exist today are the lakefront lots that will exist in fifty years. Environmental protections — stringent and expanding — ensure that the supply of premier properties will never meaningfully increase. In a world where capital is abundant and supply is constrained, that dynamic has only one long-term direction.

This is not unique to Tahoe, but Tahoe expresses it more purely than almost anywhere in the American West. The combination of natural beauty, federal protection, and geographic containment creates a supply ceiling that no amount of demand can lift. For buyers thinking in decades rather than quarters, that ceiling is the foundation of every investment thesis.

The Consistency of the Clientele

Markets are only as stable as the buyers who participate in them. Tahoe's long-term resilience is inseparable from the long-term quality of its buyer pool — individuals and families for whom a Tahoe property represents a lifestyle decision as much as a financial one. These are not speculative buyers chasing appreciation. They are people who want to be here, who have wanted to be here for years, and who plan to stay.

That profile matters enormously during downturns. When sentiment shifts and opportunistic buyers exit a market, lifestyle buyers remain. They are not selling because rates moved or because a headline made them nervous. They are holding because the reason they bought — the lake, the mountains, the quality of life — has not changed. The result is a floor beneath Tahoe's luxury market that has held through every correction the last four decades have produced.

PADDLEBOARDING PAST A MEEKS BAY LAKEFRONT ESTATE — THE KIND OF MORNING THAT MAKES THE DECISION TO OWN HERE FEEL OBVIOUS.

The Generational Pattern

One of the most telling indicators of Tahoe's enduring value is what happens to the properties themselves across generations. Families that purchased lakefront estates in the 1980s and 1990s are not selling — they are passing. These properties have become generational assets in the truest sense, held not because the financial case demands it but because the emotional case is overwhelming.

When these estates do come to market — through estate sales, divorces, or the rare voluntary decision to sell — they command prices that reflect decades of constrained supply and sustained demand. The stories of what a property sold for in 1995 versus what it trades for today are not simply stories about appreciation. They are stories about what happens when something genuinely irreplaceable changes hands in a market that never stopped wanting it.

What the New Buyers Confirm

The profile of buyers now entering the Tahoe luxury market adds a new dimension to an already compelling long-term story. The migration of ultrahigh-net-worth individuals from California — driven by tax restructuring, lifestyle priorities, and a fundamental reassessment of where and how they want to live — is not a temporary trend. These are permanent decisions made by permanent residents who have chosen Tahoe not as an escape but as a foundation.

When individuals of this caliber make this kind of commitment to a market, they do not leave when conditions shift. They dig in. They improve their properties. They refer their peers. They become the next generation of longterm holders, reinforcing the same floor that has protected Tahoe values through every cycle that came before.

The Long View

Every market has a story it tells about itself. Tahoe's story has the unusual advantage of being true. The lake is as beautiful as advertised. The mountains are as permanent as they appear. And the properties that have traded here over the last forty years have, with remarkable consistency, rewarded the people who had the conviction to own them.

There is no secret formula. No perfect entry point. The buyers who have fared best in this market are not the ones who timed it correctly — they are the ones who fell in love with the place and refused to let go. That turns out to be the most reliable investment strategy Tahoe has ever produced.

Chase International has represented buyers and sellers in this market through four decades of cycles, shifts, and everything in between. If you are considering a purchase or evaluating what you currently own, we would welcome the conversation.

2025-2026

Properties Sold Over $20 Million

LAKE TAHOE, TRUCKEE, RENO & CARSON VALLEY | TOP FIVE COMPANIES

CHASE SUCCESS

The second highest-priced sale in the history of Lake Tahoe’s North Shore, California, was represented by Chase International in 2025 for $25,750,000.

LAKE TAHOE, TRUCKEE, RENO & CARSON VALLEY | TOP SEVEN COMPANIES

Clear Creek 108, represented by Chase International, became the highest-priced residential sale in Northern Nevada outside the Tahoe Basin in 2025, closing at $12,050,000.

LAKE TAHOE, TRUCKEE, RENO & CARSON VALLEY | TOP SEVEN COMPANIES

CHASE SUCCESS

Since 2017, Chase International has represented nearly $1 billion in real estate sales within the gates of Clear Creek Tahoe, the region’s most exciting golf course community.

Chase history in the making

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**

$38,500,000 Crystal Pines _

26 acres East Shore lakefront estate 2022**

$35,500,000 Crystal Bay Lakefront

Highest priced Lake Tahoe sale in 2023*

$33,000,000 The Bourne Estate

Highest price Lake Tahoe sale in 2001*

$50,000,000

Incline Village Lakefront _

$49,000,000

Spirit of the Lake

$36,000,000 Lucky Bluff

Celebrity Lakefront in Rubicon Bay 2021*

$35,000,000 The Pines

13 acres East Shore lakefront estate 2020**

$32,500,000 Lakeshore Estate

Incline Village lakefront 2021*

Highest price Lake Tahoe sale in 2022* INFORMATION GATHERED FROM

Highest price sale in 2021*

$35,500,000 Crystal Coast

Highest Lake Tahoe land sale in history*

$34,500,000 Crayfish Cove

Highest price Lake Tahoe sale in 2015*

$30,000,000 Glenbrook Lakefront

Highest price Glenbrook sale in history*

MEEKS BAY, CALIFORNIA

Chase luxury collection

HOMEWOOD, CALIFORNIA

A masterpiece of Old Tahoe architecture by Olson Architects, set along 133 feet of coveted West Shore frontage in Homewood, with two private buoys and timeless legacy craftsmanship.

Offered at $26,000,000 | Trinkie Watson | 530 582 0722

CA 00326518

Drum Haven Lakefront

MEEKS BAY, CALIFORNIA

Rare 4,095 sq. ft. new construction West Shore lakefront estate with 100 feet of private frontage, southern exposure, a shoreline cabana, and sweeping Sierra views on one acre.

Offered at $22,000,000 | Trinkie Watson | 530 582 0722 CA 00326518

Nixon Mansion

RENO, NEVADA

Built in 1907 on the bluffs above the Truckee River, the historic Nixon Mansion offers 17,000 square feet of restored grandeur — an irreplaceable Reno legacy estate with panoramic city and mountain views.

Offered at $13,500,000 | Donna Spear & Trinkie Watson | NV S0042018 | 775 691 7947 nixonmansion.com

Shoreline Sanctuary

ZEPHYR COVE, NEVADA

Held by the same family since 1972, this rare Skyland legacy estate offers 72 feet of Lake Tahoe frontage, a 220-foot shared pier, and sweeping views of Mount Tallac bordering protected Forest Service land.

Offered at $12,000,000 | Star Brooks & Susan Lowe | 530 318 5818 NV S0044471 | NV B.26719.CORP

Edgewater Escape

Stunning Skyland lakefront with sandy beach, buoy, lush gardens, and sweeping views of Lake Tahoe. Offered at $11,500,000 | Brandon Yee |

Sentinel Peak

Clear Creek Tahoe mountain retreat on 1.88 acres with panoramic Carson Valley views and refined elegance.

Offered at $9,800,000 | Clear Creek Sales Team | NV B.2146452 | 775 781 2597

Meadow View Estate

Modern Farmhouse ideally nestled on 1.25 private acres in one of Nevada’s most exclusive gated mountain communities. Offered at $9,250,000 | Clear Creek Sales Team | NV B.2146452 | 775 781 2597

Our partnerships elevate you into every corner of the global market.

When you partner with Chase, you’re connected to 550+ top-tier independent real estate brokerages spanning 60 countries across six continents, including our London office. This global partnership gives you access to more than 120,000 real estate professionals who represent more $1M+ properties than any other company worldwide. Together, they achieve over $500 billion in annual sales, with a transaction closing every 15 minutes.

LEADING REAL ESTATE COMPANIES OF THE WORLD

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

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 REALTY

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.

LUXE SF

LuxeSF, a B2B organization of sales and marketing practitioners, is considered to be the Bay Area leader in the arena of luxury marketing, and the thought leader for the intelligent exploration of best marketing practices and trends in the luxury marketplace.

ARTISAN GROUP

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.

ONE COMPANY | ONE HEART | ONE PHILOSOPHY

Chase International is one of the nation’s most successful independent real estate firms specializing in unique and distinctive luxury properties in Tahoe, Carson, Reno, and Northern California. We are proud to have $16.5 billion in sales over ten years, helping 23,038 families and individuals. With more than 300 highly skilled professionals plus 60 luxury specialists and 14 real estate locations, we are committed to our clients’ success. Our global connections enhance our ability to reach all corners of the world. “One Company, One Heart, One Philosophy” isn’t just a slogan; it’s our guiding principle, shaping every aspect of our business.

LUXURY