OFFICE LOCATIONS
TAHOE MOUNTAINR EP ORT
[email protected] PO Box 3757, Truckee, CA 96160 www.tahoemountainrealty.com
TAHOE -TRUCKEE REAL ESTATE - 2014 ( 12 MO ) MARKET REVIEW
OLD GREENWOOD12915 Fairway DriveTruckee, CA 96161
NORTHSTAR3001 Northstar DriveTruckee, CA 96161
THERITZ-CARLTON13031 Ritz-Carlton
Highlands CtTruckee, CA 96161
GRAY’S CROSSING11406 Henness RoadTruckee, CA 96161
TRUCKEE/TAHOE MARKET OVERVIEW - 2015 ( 6 MO )
Data co l lected January - June 2015 . Data conta ined in th i s repor t i s f rom the Tahoe S ie r ra Board of Rea l tors .In format ion i s deemed re l iab le but not guaranteed. Consu l t your Tahoe Mounta in Rea l ty Broker fo r more in format ion .
0
200
400
600
800
1000
1200
1400
1600
1800
2014 (6 MO)2013201220112010200920082007200620052004
1,382
1,661
1,1351,037
889
1,079
1,3521,252
1,4281,488
568
TRANSACTION VOLUME COMPARISON
SALES VOLUME COMPARISON
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
2014 (6 MO)2013201220112010200920082007200620052004
$1,031,643,482
$1,294,296,737
$953,800,000
$831,967,000
$686,185,000$639,332,000
$760,551,000$642,497,000
$855,351,371
$1,029,095,850
$466,185,209
MIL
LIO
NS
CONTINUED
ACTIVE LISTING INVENTORY
0
500
1000
1500
2000
2500
3000
3500
4000
2014 (6 MO)20132011201020092008200720062005
1,731 1,692
2,234
3,611
3,100
3,346
1,393
1,803
1,075
AVERAGE SALES PRICE
$0
$100000
$200000
$300000
$400000
$500000
$600000
$700000
$800000
$900000
$1000000
2014 (6 MO)201320122011201020092008200720062005
$936,539$840,352 $802,283
$771,862
$592,523$562,538
$513,177
$601,217
$685,247
$820,749
2014 (6 MO) RESIDENTIAL TRANSACTIONS BY PRICE POINT
UNDER $500,000 292 $332,806
$500,001 TO $1,000,000 202 $687,729
$1,000,001 TO $2,000,000 64 $1,424,325
$2,000,001 TO $3,000,000 17 $2,488,005
OVER $3,000,000 29 $4,510,124
RESIDENTIAL TOTAL 508 $825,670
AMOUNT OF SALE NUMBER OF TRANSACTIONS AVERAGE SALES PRICE
www.TAHOEMOUNTAINREALTY.com
M A R K E T N E W S
[email protected] PO Box 3757, Truckee, CA 96160 www.tahoemountainrealty.com
The adage “quality over quantity” best sums-up the Tahoe-Truckee real estate market for 2014. With soaring economic conditions in the San Francisco Bay Area, more and more families made their way to Lake Tahoe to spend quality time together. This demand for home ownership led to a second straight year of over $1 billion in sales -- the first time since 2004-2005.
Following an exceptionally robust 2013, quality inventory was at a premium heading into 2014. Despite fewer overall sales, the region’s dollar volume grew by over $100 million, indicative of a higher number of transactions for the market’s top tier properties. Average price grew by 18% in 2014 buoyed by 249 transactions at prices greater than $1 million.
Three communities in particular set the tone for the surging luxury market in 2014.
Tahoe Lakefronts, the gold standard for Tahoe real estate, outperformed all other classes over the past year with $130 million traded over 34 properties – the highest level in nearly a decade.
Martis Camp, elevating Tahoe resort property for nearly a decade now, has only 80 homesites left so the focus shifted to the sale of custom homes. 2014 saw 36 residences sold in this community at an average price of $3,700,000 -- a figure nearly identical to lakefront sales. Finally, as Vail Resorts continues to distinguish itself as the world’s elite resort operator, the prestige of Northstar has risen to new levels. Accordingly, the opportunity to live on the Mountain has become its own calling card. Mountainside Northstar, the community anchored by The Ritz-Carlton; Lake Tahoe, has established an identity as the premiere on-mountain living experience on the West Coast. In 2014, Mountainside experienced over $40,000,000 in transactions ranging from estate land to premiere ski-in / ski-out residences.
Looking ahead to 2015, all indications are that this robust market will continue. With inventory remaining at a balanced 6-month supply and stable economic conditions Tahoe appears poised for another year of growth. As Martis Camp and The Ritz-Carlton Residences near sellout, Mountainside Northstar, Lahontan, Gray’s Crossing and Old Greenwood stand to benefit as the recipients of attention from well-qualified consumers.
At Tahoe Mountain Realty, we look forward to helping you make your Tahoe dream a reality in 2015.
Regards,
General ManagerTahoe Mountain Realty
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