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The Lake Tahoe real estate numbers for the fourth quarter of 2011 have just come in. These graphs compare the year end real estate numbers in 2011 with 2010. Let’s hope for a great 2012!
Here is the press release from our broker:
Tahoe Home Sales Stats Holding Steady
Zephyr Cove, Nev. (Jan. 5, 2012) – Year-end home sales at Lake Tahoe are holding steady compared to 2010 with some indicators on the rise, according to a quarterly report released by Lake Tahoe-based real estate firm, which notes a one-percent increase in units sold around the lake.
The National Association of Realtors recently reported that existing home sales rose again in November and remain above a year ago, and the latest Tahoe housing market sales figures concur with this national trend. In fact, while real estate sales and prices took a slight dip around the lake overall, the East Shore market segment saw a one-percent increase in median home price ($575,000) and a 35-percent jump in average price ($1,286,924). Volume sold on the East Shore was up 26 percent, while the number of units was down seven percent.
Although the number of units sold is up slightly, the median price of a home in Lake Tahoe is down thirteen percent to $365,000 from 2010’s year-end numbers. The average home price fell 14 percent to $607,683.
“High end home sales on the East Shore helped buoy the Lake Tahoe market,” said Susan Lowe, corporate vice president for local real estate brokerage. “It definitely is still a buyers’ market as average and median prices have continued to fall but with units sold rising we believe the market is strengthening.”
Truckee reflects this same trend, seeing a two-percent increase in units sold and a 17-percent rise in units sold for less than a million. The median price of a home in Truckee is $438,166 (down 10 percent) and the average price is $562,811 (also down 10 percent).
The condominium market around Lake Tahoe experienced a six-percent decline over 2010 in units sold. However, for units sold for more than $500,000, a notable 29 percent jump occurred. Tahoe City experienced the most pronounced increase in sales over 2010 sales figures, with a three-percent rise in units sold and up 50-percent in units sold for over $500,000. South Lake Tahoe saw a 21-percent increase in overall volume sold, with median and average prices rising 14 and 69 percent, respectively. The median price of a condo in Lake Tahoe is $262,000 (down eight percent) and the average price is $348,868 (down 12 percent).
2011 was a great year for Martis Camp! We just received this Martis Camp update as we come to a close for 2011 and start the new year of 2012. Exciting new things coming to Martis Camp this year!
With the new year in full swing, 2011 gave us a great deal to celebrate at Martis Camp.
The year’s hallmark was no doubt the July 1 opening of the Camp Lodge. Anchored by the Camp Lodge, DMB Highlands Group has now spent a total of $90 million in amenities at Martis Camp, once again demonstrating their unwavering commitment to redefining the way our families experience Tahoe.
This investment inspired great confidence, excitement and eagerness–the fruits of which were evidenced as we welcomed nearly 100 new families to Martis Camp. Through their purchase of 83 homesites, 11 home/lot packages and 5 custom homes totaling approximately $90.2 million in sales, Martis Camp was the overwhelming choice for families committed to the vision of a surpassing Tahoe retreat.
The year’s momentum was no less evident in the eagerness of our families to establish their Martis Camp homes. With 50 homes completed, another 84 under construction, 60 in the design review process along with 48 new starts in 2011, this was a landmark year for our new home construction-reflecting the deep sense of community and permanence at Martis Camp.
We would be remiss if we failed to also celebrate those who made so many 2011 highlights worth remembering–everyone at the Martis Camp Club. From countless dining experiences and unforgettable social events, to the summer camp for kids, folk school classes and unsurpassed golf and ski experiences, the dedicated Ambassadors at the Martis Camp club worked tirelessly and cheerfully to make 2011 a truly sterling year!
As we conclude a superlative 2011, we look forward to an equally exciting 2012.
The Tennis Park and Pavilion with two clay courts and two hard surface courts is scheduled to open in the late Fall of 2012. The 8,000 square-foot ski lodge is also scheduled for completion this year, which will find families next ski season enjoying breakfast, lunch and vibrant Après-ski experiences at the base of Lookout Mountain–in addition to Martis Camp’s countless other opportunities for recreation, solitude and building enduring memories.
Great news for Lake Tahoe Real Estate! Lake Tahoe is getting more and more headlines about being a second-home real estate market on the rise. Lake Tahoe was featured on a CNBC TV segment last week. The opening line was “Some investors have started putting their money back in real estate—second home real estate, in California.”
Click here to view the CNBC segment
The show featured an interview with new Tahoe-area property owners, David and Kate Kaufmann, who were quoted on the show as saying “Let’s take our money out and invest in something else that we can actually use and enjoy…and not just look at on a monthly statement. And it’s been great.”…“Every time we come up here, we look at each other and we say we’re so happy we bought this place, we’re so happy we’re here.”
As CNBC host Jane Wells notes, “Real estate here is making a comeback thanks to the tech boom.”
Lahontan Home for Sale
Lahontan Home for Sale
Great deal on a gorgeous Lahontan home. Originally listed for $4.5 million. Now just $1,695,000!!
Details on this Lahontan Home
4 bedrooms/.5 bathrooms/3 car garage/4783 sq. ft.
Property Description
This extremely custom home sits on the 6th fairway of the Weiskopf championship golf course overlooking a gorgeous pond. The high end finishes in this home are a must see, such as custom wood cabinetry that was built on site for the huge wine room that is adjacent to the dining room as well as gorgeous, intricate iron work. There is Butterfly Verde granite and rainforest marble throughout the kitchen and baths. There is a separate guest cottage above the 3rd car garage and the entire home is smart-wired.
Click on link for more information about this best buy in Lahontan.
Downtown Reno
We are experiencing one of our driest seasons this 2011/2012 here in Tahoe! What is there to do in the area while we are anxiously awaiting the snow? Here’s one option.
When there is no snow in Tahoe for skiing…you can head to Reno! I actually rode my mountain bike on trails to Stampede Reservoir in Truckee on Jan 1!! Crazy and unheard of but super beautiful and fun!
Check out this video entitled “Why I Love Reno.” The video interviews Reno locals and highlights many of the attractions that Reno has to offer including museums and the arts, college football, river rafting, baseball, and many more.
Hope this provides some ideas for things to do this season!
There are many changes happening at Lake Tahoe ski resorts with the recent merge of Squaw Valley and Alpine Meadows. This was big news for Squaw Valley and Alpine Meadows – combining their ski resorts! The company that has recently taken over Squaw Valley has big plans for the mountain. The new owners are “committing more than $50 million in capital improvements over the next three to five years.”
An article was published on November 28, 2011 by Andrew S. Ross of the SFGate entitled New Squaw Valley owners plan $50 million upgrades. Click on the link to view entire article.
New Squaw Valley owners plan $50 million upgrades
November 24, 2010|Andrew S. RossA Squaw Valley ski resort highlight: the 1960 Winter Olympics. Credit: Associated Press 1960
If you’re planning Thanksgiving holiday at Squaw Valley, you’ll be able to celebrate its 71st anniversary, and say hello to its new owners.KSL Capital Partners, a private-equity firm in Denver has taken over the 4,000-acre resort founded by Alexander Cushing in 1949. It had stayed in the Cushing family ever since.
Terms of the acquisition, to be completed by the end of the year, were not disclosed. But in a letter to Squaw Valley regulars, Squaw Valley USA‘s current CEO, Andrew Wirth, said KSL, “with a respectful eye for the past,” is committing more than $50 million in capital improvements over the next three to five years. The acquisition is “part of a new era in Squaw Valley’s incredible history,” he said.
Happy December! The holiday season is upon us and there are many ways to get out and enjoy this happy time. Schaffer’s Mill (former Timilick) is having their Winterfest this upcoming weekend (December 2-4, 2011). Activities include cocktails Friday evening, fun in the snow on Saturday, and a brunch on Sunday. See below for more information. Happy holidays!
GUARANTEED TO GET YOU
I N T H E H O L I D A Y S P I R I T
Winterfest at Schaffer’s Mill
There’s nothing like surrounding yourself with the sights and sounds of winter to truly get into the holiday spirit. Gliding down an old-fashioned sledding hill, enjoying warm, festive holiday drinks with friends or cruising the slopes of Northstar….all these activities are part of the Schaffer’s Mill “Winterfest” and are guaranteed to kick off your holiday season in style.
So come and join us, December 9th-11th and take advantage of not only the early winter snowfall, but our special Discovery Visit pricing. For just $399, our Winterfest Weekend includes:
A Friday cocktail reception at the Martis Peak Mountain Lodge
Saturday In the Snow
Sunday Brunch
All this, including two nights accommodations, for only $399 per couple.
Space is limited, so please call now to book your Schaffer’s Mill Winterfest Discovery Visit. And don’t forget to ask about our special incentives and leaseback options, ending on December 31st, on our model Mountain Lodges. This is a $70,000-$100,000 savings and only three remain!
RSVP: 530.582.9026
*Discounted Ski passes and ice skate rental are available for an extra charge
Pete Carey from the San Jose Mercury News recently wrote an article entitled Tech-rich Vacation Home Buyers Head to Tahoe. Carey says that because of the booming tech industry in the Bay Area and Silicon Valley, vacation home buyers are expected to purchase real estate in Lake Tahoe. See entire article below…
Tech Rich Vacation Home Buyers Head to Tahoe
Market Rebounds as buyers from Bay Area move in
By Pete Carey
San Jose Mercury News
Lake Tahoe area real estate agents, hungry for sales in the aftermath of the housing bubble, are counting on the Bay Area’s booming tech industry to help generate the next crop of million-dollar vacation home buyers.
The market for vacation homes costing more than $1 million, though down over the year, turned in a strong third-quarter performance, according to Coldwell Banker. That was partly due to buyers from Silicon Valley, vacation home developers and real estate agents said.
“People are starting to feel a little bit better about things. Silicon Valley is kind of spearheading that revival. We’re seeing those folks make their way into the Tahoe market,” said Jim Telling of East-West Partners, the developer of Home Run at Northstar.
Some buyers from the tech industry have snapped up vacation homes recently that run from $1 million to $4 million or more. Read the rest of this entry »
Check out this upcoming local event! The Lake Tahoe Bonanza recently published an article entitled: Take the Lake Tahoe Backcountry Vertical Challenge. See how you can participate or support this upcoming local fundraiser!
Event: The Lake Tahoe Backcountry Vertical Challenge
Reason: Fundraiser to benefit the Sierra Avalanche Center
When: November 15, 2011 through April 30, 2012
What: The challenge is for the the entire Tahoe backcountry community to a cumulative goal of 15 million vertical feet of human-powered uphill travel!
More info: Call Alpenglow Sports at 530-583-6917 or email brendan@alpenglowsports.com
Martis Camp Home for Sale
The real estate market at Martis Camp continues to see some very positive numbers! 78 properties have sold in 2011 along with 4 custom homes. The total number of homesites over 360 which means Martis Camp is more than half way sold out!
*2009- 53 sales
*2010- 58 sales
*2011- 70+ sales (includes pending sales)
*2011 Dollar volume- Over $54 Million
*Overall Dollar volume since 2006- Over $300 Million
Martis Camp Ski Lodge Breaks Ground
The Martis Camp Ski Lodge is currently under construction. This slope-side chalet will feature ski & snowboard storage as well as breakfast and lunch service. Crews are aiming for completion just in time for the 2012/2013 ski season.
