2020 Luxury Report Winter Fall Final Spreads

welcome
Q3 luxury insights
Chase life—joy, health, success
The extraordinary influx of home buyers to our region gives
us the opportunity to deepen our appreciation of where we
live. The onset of COVID 19 changed the way people value
their lives. People are leaving urban areas and heading our
way to embrace our healthy lifestyle and discover Mother
Nature's divine secrets. The vibrant growth, exciting
economic opportunities and peaceful essence has brought
about the most expansive real estate market in history.
Some would say, “off the Richter scale.”
Lake Tahoe is booming even if inventory is low. Properties
are flying off the shelf as buyers are excited to start a new
way of living. The trails are welcoming hikers and bikers like
never before. Exercise has taken off to new levels and the
young and old are enjoying what we are all about. Creativity
has hit new levels of joy with less distraction. The new trend
of outdoor dining and take-out, along with social distancing
and respect for our neighbors is a new way of living.
Home building is at an all-time record at Clear Creek Tahoe,
Reno is emerging as one of the best places to live and
Truckee offers a special Western charm. The Carson Valley
continues to remain a solid bet with wide-open spaces,
sprawling ranches, and spectacular Sierra views.
At Chase International, our luxury specialists are making
dreams come true!
Luxury wishes,
SHARI CHASE
PRESIDENT & CEO
CHASE INTERNATIONAL
Lake Tahoe
Now that Q3 is in the books, it’s time to take a closer
look at how the luxury real estate market is performing
in 2020. WOW, is the response! The market has been
explosive in properties sold over $1 million for a total
of 497 units. Leading the way, West and North Shore,
CA witnessed a whopping 87% increase in properties
over $1 million, followed by East Shore, NV which
recorded a staggering 72% with Incline Village a close
71% increase. South Lake Tahoe was up 66%.
These numbers are historic because, as of June 2020,
the entire market was down across the board. These
gains all came in a three-month period. We have not
seen such a vigorous market swing in a short period of
time in recent history.
The top sale in 2020 so far was a lakefront on the East
Shore that sold for $38,000,000.
Leading the lakefront sales was the North and West
Shore with 18 through Q3 versus 11 in 2019. Incline
had 11 lakefront sales in 2020 versus 3 in 2019 and
East Shore was 9 verses 6. South Shore saw a robust
lakefront market with 10 sales compared to 2 in 2019.
Truckee
Truckee saw 323 properties sell over $1 million, up an
astounding 84% from this time last year. The median
price in Truckee was $1,695,000 in the luxury arena.
Martis Camp continues to be the most affluent area in
the Truckee market.
Reno-Sparks
Reno-Sparks increased through Q3 in 2020, with a 21%
increase in homes sold over $1 million, representing
207 versus 171 in 2019. The highest priced home in
Reno-Sparks sold for $5,200,000 ($250,000 over
list price). Only two other homes have sold higher
than $5.2 million in history.
Carson Valley
Carson Valley has seen the most tremendous growth
through Q3 in 2020 with a 133% increase of units sold
over $1 million. 35 homes so far in 2020 over a million
versus 15 in 2019. The highest priced property sold in
the Carson Valley was $12 million with the second at
$6,950,000.
CHASEINTERNATIONAL.COM
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