Tahoe-Truckee Market Update - July, 2015

Tahoe-Truckee Market Update 

July, 2015 

A year ago, the average price of real estate in the Tahoe-Truckee region far outpaced the median price in a year that saw strong overall growth. This dynamic was driven by an exceptional sales volume in the luxury segment, largely within the many new luxury resort communities in the greater Truckee / Martis Valley region.   These communities have tremendous appeal to the demographic of young, active families seeking quality experiences in the mountains of Lake Tahoe.

Throughout the first half of 2015, this story has inverted based upon factors outside of simple supply and demand. Median price has held steady while the total number of real estate sales have increased by nearly 10% compared to the same time in the prior year. However the average price has dipped along with the total dollar volume, indicative of a short-term decline in activity within the same luxury segment. A lackluster winter is the culprit, as winter visitation suffered due to less-than-ideal ski conditions.

Conversely, sales in primary home neighborhoods throughout the region have been stellar year-to-date. This is a fantastic beacon for the overall region as it indicates upward mobility for full-time residents driven by the surge of activity in new construction and resort / service positions.

With a soaring economy in our Northern California feeder market, purchase decisions have simply been deferred. As we start the summer shopping season, a cycle far less dependent upon weather variables, we anticipate seeing a surge of activity that ultimately accelerates volume and values well beyond last year.

Looking at a 10-year model, we see that the total number of sales will increase by 35% or more in the second half of the year.

 

With summer rental occupancy up by 21% year-over-year, it is easy to forecast a busy summer showing real estate.

Certain communities have carried momentum from previous years forward.  Martis Camp continues to drive the upper-echelon of the market and is now over 90% sold out. Home values continue to solidify around $1,000 per square foot while land commands values upward of $1,000,000. 

Lahontan has found its stride once more with over $20,000,000 in total sales already for 2015. Rounding out the neighborhood is Schaffer’s Mill, which continues to find a strong niche in this exclusive area.

Gray’s Crossing is fast catching up to these other luxury communities with new construction starting daily and 15 land sales already year-to-date. As new homes continue to get absorbed quickly after completion, the incentive for builders to invest in this community will only grow.

The fundamental values that drive homeownership in our region remain unwavering.  The opportunity to spend time with family and friends in a setting that promotes wellbeing and relaxation will never go out of style.

We look forward to helping you find your perfect Tahoe experience. 

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Fourth of July in Truckee/Tahoe

Fourth of July in Truckee/Tahoe

Saturday is the 4th of July and the best way to celebrate Independence Day is in a small town.  Truckee puts on a full display of quintessential Americana events.  Wake up early and start your day off right by heading down to Truckee fire station #92 and fill up on a delicious pancake breakfast with fellow community members.  Breakfast is served from 7am to 10am.  If you want to burn off some of those pancakes or just test your speed against some of the best in town, enter the Firecracker Mile race.  This 1 mile downhill race starts at 9:45 from the Gateway center on Donner Pass Road, follows the parade route and ends in downtown Truckee in front of the parade judging stand.  Click here to sign up early.   

From the finish line you can pick a spot along the parade route that travels down Donner Pass Road from Tahoe-Truckee High School ending in Historic Downtown Truckee.  Parade starts at 10am and is usually over around noon.  This year’s theme is “Live-Work-Play TRUCKEE” and will celebrate everyone in our community that enjoys life in the mountains every day or when visiting.  Don’t miss the fire engines, old cars, hometown floats, marching bands, dancing, bike riding, equestrian groups and so much more in-between.  

What’s next?… Beach time!  The shores of Lake Tahoe and Donner Lake will be packed with kids, family, friends, food, drinks and plenty of fun.  With temperatures predicted to be in the 80’s, you can’t go wrong with some fun in the sun and water. 

Come nighttime, bring a blanket, lay back and get ready for the firework show!  Depending on what beach you end up at, there are a few firework shows to choose from.  Below is an outline of locations so you can be sure to get the best spot! 

Kings Beach
July 3rd Fireworks & Beach Party
Friday, July 3rd
4pm – 10pm 
A great option for those who want to see 2 nights of fireworks or want to skip the Fourth of July rush and celebrate early! 

Tahoe City, Commons Beach
Tahoe City’s 70th Annual 
4th of July Fireworks Show & Beach Bash
Saturday, July 4th
11am – 10pm 
This is the place to be on Lake Tahoe.  Fireworks can also be seen at other nearby beaches or by boat.  

Truckee, Donner Lake
Fourth of July at West End Beach
Saturday, July 4th
12pm – 10:30pm 
Many options for firework viewing.  These fireworks can be seen from any point on the Donner Lake shore or from above at Donner Summit or looking down over the edge from Tahoe Donner.  

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

North Tahoe Outdoor Summer Concerts 2015

North Tahoe Outdoor Summer Concerts

The summer is heating up and so are the outdoor music events!  You better rest up on Monday nights because every other day of the week you will not want to miss live outdoor music in the North Lake Tahoe area. 

Start your week of music in the Village at Squaw Valley with Bluesdays Tuesdays featuring acclaimed blues musicians. Or, head over to Gray's Crossing in Truckee to PJ's Live Music Series. On Wednesday it’s Music in the Park, one of Truckee’s most treasured summer events. Surrounded by trees and adjacent to the Truckee River, an elevated terraced amphitheater lawn looks down at the stage hosting a favorite local band.  Truckee keeps the fun going mid-week as Truckee Thursdays features two artists on two stages.  This week you will enjoy Patrick Nevins on the corner stage and Jeff Jones on the main stage as you jump in the social scene at the beer garden. 

TGIF!!!  Time for music on the beach at Kings Beach. Sink your feet into the sand with a great band in front of you and the summer sunset over Lake Tahoe in the distance.  Cool it off with ice cold Sierra Nevada Summer Ale at the beer garden. On Saturday, make your way up to the Village at Northstar for live music on the main stage overlooking the roller skating rink.  Sit back and relax around the fire pits with cocktails (or smores) from the cabana bar or strap on your skates and take a spin to the beats.  Then it is Sunday and time my favorite- the Concert Series at Commons Beach in Tahoe City.  Get there early for a good spot on the lawn and get ready for a family friendly dance party!  With Lake Tahoe as a backdrop, a play structure for the kids and food and beer tents, there is no better way to spend a Sunday evening. 

The best part?… it’s all FREE!  That’s 83 bands playing live for you throughout the summer.  Bring  a blanket or a low-back chair and set up with family, friends, or a fun date. 

Tuesdays
Squaw Valley
Bluesdays Tuesdays
6pm – 8:30pm 
June 16 – September 8
&
Gray's Crossing
Live Music Series
5:30pm - 7:30pm
June 23 - September 8 

Wednesdays
Truckee Regional Park
Music in the Park
6:30pm – 8:00pm 
June 17 – August 26

Thursdays
Downtown Truckee
Truckee Thursdays
5pm – 8:30pm 
June 11 – August 20

Fridays 
Kings Beach
Music on the Beach
6:30pm - 8:30pm 
July 6 – August 31

Saturdays
Northstar
Live Music
4pm – 7pm 
May 23 – September 6

Sundays
Tahoe City
Concerts at Commons Beach
4pm – 7pm 
June 22 – September 7th

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Lupine at Lake Forest Beach

Lupine at Lake Forest Beach

Lake Forest Beach in Tahoe City is tucked away down the quiet side streets of Tahoe City.  Lake Forest is not known for the sandy beach or the epic granite rocks like Sand Harbor or Speed Boat Beach or the fun social scene of Sunnyside or Chambers Landing.  Like many places on Lake Tahoe, it holds its own special gem, different from the many great places found on the shores of Tahoe.  On a low water year like this one, something spectacular happens at Lake Forest Beach.  A field of lupine take over the dry peninsula that spans out into the crystal blue waters of Lake Tahoe.  The deep purple of the wild flowers against the rich blues of Tahoe is a new definition of beauty. 

 
Pack a picnic dinner and pick your favorite spot on the beach or amongst the flowers.  Enjoy a sunset and the ever-changing breathtaking views of Lake Tahoe. It will be a night to remember and don’t forget your camera!  Get out there now before the flowers are all gone!

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Truckee Thursdays 2015

Truckee Thursdays 

A favorite summer event that closes down Donner Pass Road in old town Truckee every Thursday starts this week! Now in its 8th year, Truckee Thursdays is fun for the whole family. With artisan vendors lining the streets, there are great local products to be found. The downtown shops also keep their doors open late and usually offer specials, additional entertainment or food and beverage. Don’t miss the fun for the kids in the bounce house or hula-hooping. 

Live music will fill the streets as the band sets up in the train depot parking lot. Grab a beer or cocktail from the beer garden and get your groove on. This week will you will hear beats from The Far West, a Los Angeles-based alt-country/American band.  

Hungry yet?… A variety of food choices exist from street vendors, a farmers market, and all of the great restaurants right there in downtown Truckee. My favorite is Red Truck food truck or sipping a cocktail on the deck of the Truckee Tavern looking down on all the action.

Truckee Thursdays is the place to be this summer. See you there!


Truckee Thursdays
Historic Downtown Truckee
Thursdays: June 11 – August 20
5:00pm – 8:30pm

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Tahoe-Truckee Market Update: June 2015

Tahoe-Truckee Market Update

June 2015 

Momentum continues to build toward what has promised to be a blistering summer for real estate in the Tahoe – Truckee region. Each month in 2015 has built steadily upon the last leading to the first period to exceed 100 transactions this year. While values and transactions still lag somewhat behind 2014, optimism remains sky-high for the months to come.

The heat of the market continues to be focussed in primary home neighborhoods as 108 of 119 sales were below $1,000,000.  This trend offers a positive indicator for several reasons. Primary owners, or local merchants, service provider and tradesmen have seen positive growth for a sufficient period of time to generate some upward mobility.  Correspondingly, positive growth in the primary market always foretells a season of expansion in the second-home markets. With vacationing consumers set to return to the region, many for the first time since last summer, the market stands to enjoy a full reset on demand for luxury, second homes. Consumers trends continue to show wealthy consumers trending younger and seeking access to family-oriented experiences through their real estate purchases. Whether this means a lavishly amenitized community like Martis Camp or slopeside homes at Northstar the Tahoe – Truckee region continues to have a perfect option for every family. 

Typical of annual trends new inventory was introduced to the market in May, as many sellers rush to come on the market by Memorial Day Weekend as an introduction to the summer consumer rush. This is often about 30 days premature however as our buyers normally don't return with significant force until school is out, graduations are complete and the 4th of July is looming. This year, inventory jumped from a balanced 6 months' supply to nearly 9 months' inventory. Equally typical of the season is the ambition of these sellers. Of the 269 new listings introduced in May, 64 (24%) topped $1,000,000. Year-to-date, 12% of all sales have exceeded $1,000,000.  The median price of new inventory is 17% greater than the year-to-date median sales price, which is indicative of some ambitious sellers hoping to capitalize on the trajectory of the market. 

We made similar observations at this time a year ago and saw a huge uptick in sales and values as the summer progressed. With rental bookings at historic highs heading into summer, it is not unlikely that we will see a similar arc this year. Look for June to show steady progress over the month before a substantial jump in July that will likely continue into the fall months. 

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

North Tahoe Farmer's Markets 2015

 North Tahoe Farmer's Markets 2015

Are you ready for fresh fruits and vegetables straight from our local farms?  It’s that time of year again and the farmer’s markets are starting to open up for the summer in Tahoe.  It’s not only about the delicious produce that you can buy but the whole experience of being at the market.  As you peruse through the market there is a wide array of options like honey, breads, fish, meat, flowers and much more.  At the Sierraville market you will be treated with a cooking demonstration and sample tastings each week.  At the Truckee Thursdays market you will be in the heart of town enjoying live music, art, local business tents and children’s activities. 

  

This year there is a new Sunday market in Truckee.  Through a collaboration with Sierra Valley Farms and Slow Food Lake Tahoe, this market will include everything from organic fruits and vegetables to cheeses and small batch goods such as sauces and jams.  The goal is to offer customers a one stop food market, and the weekend timing should benefit the Monday-Friday worker-bees who may not be able to attend the other markets. 

North Tahoe Farmer's Market Schedule ~ Summer 2015

TruckeeTruckee River Regional Park10500 Brockway Road Truckee, CA 96161Tuesdays: June 2 through October 208am to 1pm &Downtown Truckee in association with Truckee ThursdaysDonner Pass RoadThursdays: June 11 through August 205pm to 9pm &Factory Outlet Stores12047 Donner Pass RoadTruckee, CA 96161Sundays: June 14 through September 278:30am to 9:45pm 

Tahoe CityCommons BeachThursdays: May 28 through June18;  August 27 through September 248am to 1pm &Tahoe Lake Elementary School375 Grove StreetThursdays: June 25 through August 208am to 1pm 


SierravilleSierra Valley Farms1329 County Road A23Beckwourth, CA 96129Fridays: June 5 through September 1110am to 2pm 


Incline Village1115 Tunnel Creek RoadIncline Village, NV Thursdays: May 7 through September 244pm to 7pm 


Crystal BayThe Tahoe Biltmore5 US HWY 28Fridays: May 8 through September 2510am to 2pm


Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012