With sales transactions totaling more than $18.8 million in the last week of 2012, Tahoe City’s full-service real estate agency, Tahoe Luxury Properties®, has experienced a notable upswing in luxury real estate activity. With additional contracts pending at the start of 2013, Tahoe Luxury Properties® Chief Operating Officer and Principal Broker, Bill Dietz, remains optimistic about the trend’s continuation. Dietz, who represented the buyer during the purchase of a Tahoe lakefront estate highlighted in the Wall Street Journal’s Private Properties section, offered additional insight about the market’s positive shift.
“The sale of 2500 West Lake Boulevard in December, 2012 for $17.25 million represented the highest dollar sale on [the lake’s] California side in 2012; and culminates a year of robust lakefront activity in Tahoe,” he said. “The total number of lakefront sales on the California side was up 31.25 percent year-over-year and the median lakefront price soared just over 10 percent. Forty-seven percent of the lakefront sales in California closed in the fourth quarter, ending the year with a flurry of activity,” he said.
Dietz’s overall sales volume totaled more than $49.4 million during 2012. Significant year-end transactions also included that of the historic, 291-acre Bickford Ranch, located north of Truckee, CA. “For myriad reasons, the property is special; however, the fact that it was originally purchased in 1909 for a single $100 gold piece makes its recent sale one of the region’s most unique cases representing a solid return on investment,” Dietz stated. “This year also looks promising, with Tahoe Luxury Properties® putting a $24.9 million listing on Tahoe's East Shore into contract. That property is scheduled to close in February,” he added.
