Real Estate News

In the first half of 2019, we continue to see sales volume decrease and median price increase in all five micro-regions year over year. Interestingly, eight of the 11 lakefronts sold in Q2, picking up from only three lakefront sales in Q1 (all of which occurred in January). In Truckee and across the Tahoe Sierra MLS, 10% of homes sold over $2M. However, in Incline Village & Crystal Bay, 21% of single-family homes sold for over $2M in the first half of 2019.

David Coverdale is selling his Incline Village estate at 757 Champagne Road for $9,850,000. The 9,035 square foot home sits on 1.05 acres, offering privacy without sacrificing lake views. But more importantly, this is truly a rock star home! From the indoor pool surrounded by Roman-style columns, to the massage room, sauna, and theater, amenities abound and the decor is simply over the top.

North Lake Tahoe & Truckee real estate signaled a shift in the first quarter of 2019. Sales volume decreased in all five micro-regions year over year, while median price increased or remained flat across the board. This decrease in sales can be explained, at least in part, by record breaking snowfall during Q1. The market showed a commensurate slow down in unit sales volume during Q1 of 2017 which was the prior Q1 with abundant snowfall. Median prices increased in all but one (Truckee) micro-market. Truckee’s median price of a single family home was essentially flat year over year.

The Truckee Donner Land Trust in combination with the Squaw Valley Public Service District will purchase the 29.6-acre property owned by the Poulsen family (one

It was a strong year for the North Lake Tahoe & Truckee real estate market. Median price increased across the board. The North & West Shores of California continue on a 7-year median price growth trend. In Truckee, the median price has consistently increased for four straight years.

Looking at the market report for January through September 2018, we see that growth remains steady. Every micro-region saw an increase in both median price and sales volume, with the exception of a slight decrease in median price of lakefronts, which is attributed to the small sample size. Sales volume reached a 13-year high in Incline Village/Crystal Bay and nears the high mark in most other regions. Median price reached an all-time high in Truckee, above the last peak set in 2006. Most other markets near the 13-year high.

The Nevada side of the North Shore of Lake Tahoe continues to see significant sales with two lakefront homes going into escrow within eight days in both Incline Village and Crystal Bay.

We are absolutely thrilled to represent the buyer in the sale of Summertide, a historic Crystal Bay lakefront estate on five separate parcels totaling 5.5 acres with over 500 feet of lake frontage, a lakeside deck, pier, and two buoys.An authentic log cabin, built in 1934 (by public record, 1920s by historians), Summertide was the vision of Tasker and Daisy Oddie. Tasker was known as the King of Tonopah for the rich silver mine he owned in central Nevada. He was elected the 12th Governor of Nevada in 1912, then United States Senator in 1920.

The Lake Tahoe real estate market continues on the growth trend. Sales volume increased in all micro-regions. Median price has steadily increased since 2015 in all micro-regions with the exception of Lakefronts (which becomes heavily influenced by the small sample set). On the North and West Shores of the Lake Tahoe basin, median price has been steadily increasing for six years. In Truckee, median price reached a 13-year high, surpassing the previous high in 2006.

A lakefront estate on the exclusive Sunnyside Lane on Tahoe City’s west shore closed in just seven days. Listed at $45,000,000, the home sold for $40,000,000. The home came on the market on April 6, 2018, and the sale closed on April 13.

The Lake Tahoe real estate market continues to remain strong in the first quarter. All micro-regions showed an increase in sales volume year-over-year, with the exception of the California side of the Lake Tahoe Basin, which showed a slight 7% decrease. In the Tahoe Sierra MLS, Truckee, and the California side of the Lake Tahoe Basin, median price remained relatively flat year-over-year, with increases or decreases less than 1%.

For Californians interested in moving residency to the state of Nevada, the Bragg Test will help you understand the factors that California will use to consider where your residence lies.