As our architecture firm in Incline Village, NV, continues to experience one of our busiest years on record, the real estate marketing throughout Lake Tahoe is echoing the same.
Within a recent Luxury Market Report published by Chase International, the statistics continue to tell the tale of 2020 and how the world seemed to find our piece of paradise, purchase property, and call the High Sierra “Home Sweet Home.”
When you follow this link you can read the entire Lake Tahoe Real Estate Report at your leisure. To save you time, we have captured some of the report’s highlights:
Now that 2020 is in the books, it’s time to take a closer look at how the luxury real estate market is performed in 2020. WOW, is the response! The market has been explosive in Lake Tahoe properties sold over $1 million for a total of 722 units. Leading the way, South Lake Tahoe, CA witnessed a whopping 121% increase in properties over $1 million, followed by West and North Shore which recorded a staggering 113% with East Shore a close 96% increase. Incline Village was up 83%. These numbers are historic because, as of June 2020, the entire market was down across the board. We have not seen such a vigorous market swing in a short period of time in recent history.
Here are some regional stats about real estate sales in Lake Tahoe, Truckee, and the greater Reno/Carson City area:
- The highest home sale within the entire region sold for $38 million and is located on Lake Tahoe’s East Shore.
- The North and West Shores led in lakefront sales with 21 closed transactions in 2020 verses 14 the year before.
- In Incline Village, where our architecture firm is based, recorded 16 lakefront properties sold verses just four in 2019.
- Over in Truckee, where we have designed a considerable amount of mountain estates, that region recorded 503 properties that sold over $1 million each, with the median price stated at $1,650,000. Remarkable to say in the least. The report also noted that Martis Camp, where we have designed several homes for our clients, continues to be the most affluent community in the Northern Region of the Lake Tahoe/Truckee area.
And, just over the eastern crest of Lake Tahoe, our friends at Clear Creek Tahoe Development were all a part of the Carson City’s astounding real estate sales. The Luxury Report published by Chase International quoted:
“Carson Valley has seen the most tremendous growth in 2020 with a 183% increase of units sold over $1 million. 65 homes in 2020 over a million versus 23 in 2019. The highest priced property sold in the Carson Valley was $12 million with the second at $6,950,000.”
To see all the statistics about how real estate faired over the past year, dive deeper into Chase International’s Spring/Summer Real Estate Report right here.
And for more information about the neighborhoods, home developments in Lake Tahoe, Truckee, and Carson City, feel free to reach out to Borelli Architecture at any time. We have designed a significant amount of homes in the region and have the personal insight to share with you.
Lake Tahoe / Truckee
775 831 3060