T H E TA H O E M O U N TA I N
Market News If 2012 was the year of stabilization for the Tahoe-Truckee real estate market, then 2013 will be remembered as the rebound year. The market saw the strongest demand for Lake Tahoe property in nearly a decade, with total sales topping $1 billion for the first time since 2005. Median and average prices grew by 15% and 16%, respectively, and total transactions reached 1,480, a 4% improvement over 2013.
REPORT T A H O E - T R U C K E E
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This rebound was largely driven by the flourishing demographics of the Northern California feeder market, but was also impacted by the introduction of premiere new communities and the resurgence of certain luxury markets. Highlights included: • Mountainside community at Northstar surpassed $100,000,000 in historical sales as consumers became aware of the hyper-unique lifestyle afforded by ski-in/ski-out, on-mountain living. The combination of Martis 25, Home Run Residences, Constellation and The Ritz-Carlton Residences sold over 20 residences for more than $35,000,000 collectively. • Martis Camp continued its exceptional trajectory with approximately 100 total sales. Tahoe lakefronts saw a shortage of inventory in 2013 (after a remarkable surge in 2012 sales) that resulted in fewer transactions but strong upward pressure on prices. • Homesites in Gray’s Crossing and Lahontan experienced a 271% increase in transactions over last year and property values were up by 50% Tahoe Mountain Resorts Real Estate continues to lead luxury sales with over $123 million in total sales volume in 2013 and nearly $46 million in Northstar alone. So, what’s in store for 2014? With an increasing sense of stability for employment and interest rates, this momentum should carry over into 2014. The market will be constrained by a lack of quality inventory. While this could lead to slightly decreased figures for transactions and overall volume, it should have an upward effect on values. Spending time with family and friends pursuing healthy and fun activities in this remarkably beautiful setting will never go out of style. Certainly, economic conditions may fluctuate, but interest in the Tahoe lifestyle will never diminish. We look forward to welcoming you and your family, and sharing all that our region has to offer. Regards, Jeff Brown VP Sales and Marketing Tahoe Mountain Resorts Real Estate
530.550.2000
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O F F I C E
TMRRealEstate.com L O C A T I O N S
530.550.2000 TMRRealEstate.com 3001 Northstar Drive Truckee, CA 96161
13031 Ritz-Carlton Highlands Ct Truckee, CA 96161
12915 Fairway Drive Truckee, CA 96161
R E V I E W
Truckee-Tahoe Market Overview ~ TRANSACTION VOLUME COMPARISON
2013 Year End
AVERAGE SALES PRICE $800,000
1,600
$700,000
1,400 1,200
1,482
1,411
1,406
1,426
1,480
$747,995
$720,996
$713,751
$600,000
$601,217 $557,538 $478,225
$400,,000
1,131 1,000
$685,247
$631,618
$500,000
1,248
1,226
$712,365
1,031
$300000
800
$200,000
600
$100,000 $0
400
2005
2006
2007
2008
2009
2010
2011
2012
2013
556
582
2012
2013
200
ACTIVE LISTING INVENTORY
0 2005
2006
2007
2008
2009
2010
2011
2012
2013
4,000 3,500 3,000
SALES VOLUME COMPARISON
3,100
2,500 2,234
2,000 $1,000,000,000
$1,014,165,950 $953,800,000
1,500
1,731
1,692 1,393
1,000 $857,337,000
$831,967,000
$800,000,000
3,346
3,611
500
$760,551,000
0
$708,730,000
$686,185,000
2005
2006
2007
2008
2009
2010
2011
$639,332,000
$600,000,000
2013 RESIDENTIAL TRANSACTIONS BY PRICE POINT $400,000,000
$200,000,000
$0 2006
2007
2008
2009
2010
2011
2012
2013
* Data collected January – December 2013. Data contained in this report is from the Tahoe Sierra Board of Realtors. Information is deemed reliable but not guaranteed. Consult your Tahoe Mountain Resorts Broker for more information.
AMOUNT OF SALE
NUMBER OF TRANSACTIONS
AVERAGE SALES PRICE
UNDER $500,000
809
$325,482
$500,001 TO $1,000,000
497
$691,072
$1,000,001 TO $2,000,000
118
$1,400,000
$2,000,001 TO $3,000,000
32
$2,403,398
OVER $3,000,000
32
$5,579,011
1,488
$690,716
RESIDENTIAL TOTAL