2020: A Banner Year for Tahoe Real Estate

Almost $3 billion worth of real estate changed hands in Tahoe/Truckee & Incline/Crystal Bay last year. For single-family homes, that’s a whopping 87 increase in volume over 2019 – a staggering jump that no one has seen in recent memory, and more than double the gains we saw in 2012, when bargain buying fueled a recovering market.

But there were almost no bargains to be found last year.  Homes that were priced right and showed well received multiple offers and often sold for well over asking. 

A Year for Luxury

The highest demand was for homes priced under $1 million, but luxury sales also soared in 2020. Close to half (45 percent) of the homes that sold in North Tahoe and Truckee last year closed for…

486 Views, 0 Comments

Read Full Post

Covid Fuels Luxury Lakefront Home Sales at Tahoe

Donner Lake Home

Waterfront home sales at Lake Tahoe tripled this summer over what they had been the year before.

More than a quarter billion worth of lakefront property changed hands this summer, including some record-breaking estate sales on the turquoise waters of Lake Tahoe’s East Shore.

*Click here to Browse Luxury Lakefront Homes at Lake Tahoe

Fueled by a strong buyer penchant for clean air and open space, Tahoe/Truckee sales were up across the board, but the surge in lakefront sales offers a curious statement about the preferences of today’s wealthy buyers. If open space is the new luxury, then Lake Tahoe, the largest alpine lake in North America, represents the pinnacle of luxury living in a…

4865 Views, 0 Comments

Read Full Post

Buyers Flocking to Tahoe for Open Space and Clean Air

Zephyr Cove

The coronavirus pandemic has flooded the Tahoe real estate market with an unprecedented number of buyers seeking an escape from urban lifestyles that have shrunk in the wake of COVID-19.

Home sales in Tahoe/Truckee this June are almost double what they had been the year before. And some popular neighborhoods like Tahoe Donner have seen the volume of home sales more than double over last year.

With many urban professionals working successfully from home, and public spaces shuttered throughout many of California’s cities, open space has become the new luxury.

In Tahoe/Truckee we are seeing this not only in the rising number of luxury cash sales, but also in the cutthroat market for homes…

566 Views, 0 Comments

Read Full Post

Strong Lake Tahoe Real Estate Market Favors Sellers

Overnight, it seems, Tahoe has become a seller’s market. Low inventory around the Lake, fueled by an increasing urban desire to escape from the confines of city life, has driven home prices around Lake Tahoe to a new 12-month high.

Glenbrook Home for Sale

The median sales price for a single-family home around Tahoe rose to almost $853k, more than $100k over last May, when the beaches and hotels were open and we all took dining out for granted.

 

Incline Village Home Values on the Rise 

In Incline, the median sales price rose 6.5 percent in May over this time last year.  That's almost a whopping 50 percent increase over pricing in April, when the market was still on wobbly post-Covid knees.

…

744 Views, 0 Comments

Read Full Post

Lake Tahoe's North & West Shore poised for solid April Real Estate Sales

On the California side of the Lake, the pace of sales was stronger in the 1st quarter of 2020 than it had been in 2019, and the median sales price of a single family home on the North & West Shore rose 4 percent to $670,000. 

Overall sales volume was down 25 percent over the same period in 2019. But those numbers were heavily slanted by one whopper of a sale – Mark Zuckerberg’s $37 million purchase of the Brushwood Estate (pictured below) in January of 2019, which accounted for two-thirds of last year's 1st Quarter sales volume.

By the first week of April, we had 18 homes under contract at the Lake, a few of which had accepted offers after the state shutdowns. …

667 Views, 0 Comments

Read Full Post

What Buyers and Sellers Need to Know about Coronavirus and the Tahoe Donner Real Estate Market

Coronavirus fears aside, the pace of real estate sales in Tahoe Donner was slightly better for the first three months of 2020 than it had been in 2019. Total Q1 sales volume rose to $33 million, with 7 more homes selling during the first quarter of this year than last. While we did see some cancellations in March due to Covid-19 concerns, six Tahoe Donner homes sold in the first week of April, including this new custom home near the Tahoe Donner Golf Course that sold on April 8 for a little over $1.4 million (within 4 percent of its original asking price):

Tahoe Donner Home Sales

  • 47 homes sold in Tahoe Donner from January to March this year (up from 40 during the same…

1535 Views, 0 Comments

Read Full Post

Buyer Opportunities at Gray's Crossing

Gray's Crossing Golf Course Homes

Gray’s Crossing, a newer golf course community of some 450 homes near downtown Truckee, saw 4 homes sell in the first quarter of 2020, a nice rebound from the first three months of 2019, when there were no sales. All of this year’s sales are homes that had gone into contract by late February or earlier, well before Tahoe and the rest of California was shuttered.

The community really hit its stride in 2020 with the median sales price rising to $1,695,000, and 43 home sales (a record number of sales never before seen in Gray's). One went under contract on March 14, the day before Tahoe’s ski resorts were shut down. The other – a stunning new home on the golf course at $1.9 million - had an accepted offer on…

453 Views, 0 Comments

Read Full Post

What Buyers and Sellers Need to Know about Covid-19 and Tahoe | Truckee Home Sales

This was a tough column to write because I know so many of you have suffered hardships as a result of the unprecedented fallout from the Coronavirus epidemic, and I don't want to appear be tone deaf. Those of you who know me, know that my motto is service above sales.

So many questions have rolled in about what 'exactly' all this means for the Tahoe Truckee real estate market, that I felt my 1st Quarter column needed to go granular. As you scroll down, you'll find global statistics, along with Links to specific communities, so you can zoom in the areas you're focused on.

Lake Tahoe Real Estate

March was a roller coaster ride none of us had ever seen before, and with the news and the…

590744 Views, 0 Comments

Read Full Post

Incline Village Homes Still Selling Despite Covid-19 Closures 

Incline Village Lakeview Home

With hotels shuttered and the beaches yet to open for the season, Incline Village is unusually quiet this Spring. But the real estate market in this lakeside community on Lake Tahoe's north shore is still cooking.

Incline Village closed out the 1st quarter of 2020 with 36 single-family home sales, 12 homes selling per month on average. But significantly, the Incline real estate market moved into April with 18 homes under contract to sell. And more than half of them had accepted offers in mid-March, following the breaking news of the coronavirus pandemic and the March 15 closure of Tahoe's Ski Resorts.

In the midst of stock market volatility, and statewide shelter in place orders,…

700284 Views, 0 Comments

Read Full Post

ArrowCreek Home Prices Rebound

Home prices at ArrowCreek Golf & Country Club rebounded nicely from the depths of the last recession, and amid the Covid-shutdowns, luxury properties here with nice views of the mountains or Reno skyline were again fetching prices well north of $1 million.

The median sales price of an ArrowCreek home in 2018 was $972,500, almost double what it had been in 2012, a year that marked a low point for real estate prices in many areas of Reno. (read more)

This community in the foothills of the Sierra Nevada mountains was launched 20 years ago as a gated golf course neighborhood offering terrific views and promising the best of amenities. The early years were slow, with just a few sales per year. But word caught on…

565151 Views, 0 Comments

Read Full Post