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GRAY’S CROSSING
OLD GREENWOOD
3001 Northstar Drive
10396 Donner Pass Road
10117 Jakes Way
12915 Fairway Drive
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530.550.2000
info@tahoemountainrealty.com
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Y’
TAHOE – TRUCKEE MARKET OVERVIEW
A
TAHOE MOUNTAIN REPORT
AD • GR
IN
RO
G • 1 1 454
HE
TAHOE – TRUCKEE TRANSACTION VOLUME COMPARISON 2,322 2000 1800
1,848
1,746 1600 1400
1,620
1,634
1,578
1,412
1,297
1200
1,252
1000
1,134
1,156
2023
2024
800 600 400 0
2015
2016
2017
2019
2018
2020
2021
2022
2025
AVERAGE SALES PRICE
$1,133,663
$1,047,342
$1,000,000
$ 1,639,433 $1,520,695
$1,489,861
$900,000
$832,540
$800,000 $700,000
$ 1,764,797
$1,602,715
$2,000,000
$907,330 $854,649
$759,693
$600,000 $500,000 $0 2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | DRE 01995145 | PO Box 3757, Truckee, CA 96160
1 2 M O M A R K E T OV E R V I E W RESIDENTIAL TRANSACTION BY PRICE POINT SUMMARY 2013
> $1MM 178
> $2MM 63
> $5MM 55
> $10MM 7
2014
249
107
51
7
2015
202
73
29
2
2016
299
111
43
8
2017
346
105
33
4
2018
386
147
34
7
2019
348
94
25
5
2020
723
257
57
5
2021
875
284
76
20
2022
702
236
49
17
2023
567
189
47
8
2024
630
213
42
14
2025
686
272
65
23
ACTIVE LISTING INVENTORY 900 700 500
680
766
518
683
640
300
495
515 231
0 2015
2016
2017
2018
2019
2020
137 2022
2021
320
264 2023
2024
2025
MARTIS CAMP VS TAHOE LAKEFRONTS MEDIAN SALES PRICE MARTIS CAMP
LAKEFRONTS
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
2022
$8,557,000
$9,482,000
2023
$7,275,000
$7,750,000
2024
$7,125,000
$7,253,000
2025
$8,500,000
$8,397,000
MARTIS CAMP
LAKEFRONTS
$10,000,000
$8,000,000
$6,000,000
$4,000,000
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
Data collected January - December 2025. Data contained in this report is from the Tahoe Sierra Board of Realtors. Information is deemed reliable but not guaranteed. Consult your Tahoe Mountain Realty Broker for more information.
24
20
25
20
MARKET NEWS 2025 proved to be a year of sorting for the Tahoe Truckee real estate market. Headline results appeared mixed: average home prices rose 8% year over year, driven by exceptional strength at the top of the market, while the median price edged down slightly by 0.5%. Transaction volume increased 8% from 2024 but remained approximately 11% below long-term historical averages. Beneath these surface metrics, a distinctly K-shaped market emerged. Elite segments surged to record levels while other tiers moved more deliberately, creating a clear separation between premium, utility-driven homes and those more sensitive to pricing and interest rates. Luxury led the story. A record number of homes sold above $10 million as Northern California’s wealthiest families continued to prioritize Tahoe lakefronts and private communities such as Martis Camp. On the Nevada side of Lake Tahoe, favorable tax conditions further accelerated demand, pushing trophy properties to record pricing—often without ever reaching the open market. In total, 23 properties traded above $10 million, making 2025 the strongest year on record for eight-figure sales. Several communities, including Schaffer’s Mill, Lahontan, and Northstar, achieved all-time highs, while Martis Camp recorded its second-ever sale above $20 million. While the top tier flourished, other segments experienced a more measured pace. Interest-rate sensitivity and broader economic realignment led to longer decision cycles, even within historically strong neighborhoods. In some communities, newly built or best-positioned homes set records while resale inventory accumulated with longer days on market. Across mid-tier communities such as Gray’s Crossing, Old Greenwood, Tahoe Donner, and Northstar, transaction volume edged higher as pricing adjusted away from peak pandemic-era levels. This shift was driven not by seller distress, but by strategic repositioning and opportunities to redeploy equity. At the entry level—where pricing now approaches $1 million in much of the region—sales remained constrained by a continued lack of quality inventory. In total, the market recorded 1,252 transactions and more than $2.2 billion in dollar volume, the third-largest year on record, with over half of all sales closing above $1 million. Ultimately, pricing in 2025 was set by use and utility rather than momentum. Buyers prioritized lifestyle, location, and quality. Homes that delivered held value; those that didn’t adjusted. Looking ahead to 2026, modestly higher inventory and realistic pricing expectations point toward a market positioned for steady, sustainable activity—grounded in real demand rather than speculation. Best regards, Jeff Brown
General Manager Tahoe Mountain Realty 530.550.2000 | info@tahoemountainrealty.com | tahoemountainrealty.com | DRE 01995145