How’s the Dollar Point Market?

 

Dollar Point sales volume is 2.5 times greater than last year. There have been 50% more homes sold. Days on market is 1/3 of that for the surrounding area. It takes 30% less time to sell a home in Dollar Point. In fact of the 25 sales since 1/1/2107, four had ZERO days on market and 15 sold in less than 15 days – wow. A near-record breaking off market sale over $5,000,000 occurred in June before the property saw the open market.

I know of  a complete rebuild coming to market for $3.8m later this year.

“Nothing is for sale and everything is selling” – my phrase for Tahoe thus far in 2018 applies especially well for DP.

This is an incredibly highly-desired neighborhood. You and I both know why. I’ve lived in Dollar Point and absolutely love it. So do today’s buyers…
 

Quick Stats:

  • 6 active Dollar Point listings from $989k to $2.1m
  • 5 Dollar Point homes in escrow up to $1.995m.
  • Sold Units is up: 15 sales vs. 10 last year to this time
 
For my Early Summer 2018 Dollar Point update, click here

See all Dollar Point listings here

 

A fun note: Lake Tahoe is .5 inches from it’s legal limit!

2017 Recap: Dollar Point had an interesting year in 2017. Volume was down substantially. But the sales happened incredibly fast. Time on market was 2x faster than the rest of Tahoe Basin. Dollar Point homes averaged 35 days on market; the Basin was at 78.

However, there was typically very little offered for sale so options were not wide. There were stretches of time where there were only a dozen homes on the market. That number is usually between 15-20.  See all current listings here.

Higher-end Dollar Point buyers were very selective. Due to low inventory there were 5 homes between $1.5m – $4.3m which were rejected by the market. This was not the case the year before. 2016 saw multiple sales over $1.5m including $2.4m and $3.6m. In contrast, the highest sale in 2017 was $1.7m.

See my 2016 early summer analysis and comparison to 2015 at this link.

Quick Data for the Dollar Point niche

Year Total Volume # Homes Sold Days on Market Ave. Price Median Price
2017 $19m 18 35 $1.05m $937k
2016 $28m 23 110 $1.21m $1.02m
2015 $29.4m 20 98 $1.47m $913k
2014 $26.6m 15 76 $1.77m $1.2m
2013 $22.7m 15 65 $924k $785k

Total Dollar Point sales volume over the last 7 years has ranged from $8.3m in the anomaly year of 2011 to the upper-$20m’s during ‘normal’ years.

_______________________________________________________________

 Selling in Dollar Point

Dollar Point is amazing: as far as real estate sales and rentals, it has become one of the hottest neighborhoods in North Tahoe. It is a primary area of focus for my business. It’s one of the greatest neighborhoods around the entire Lake. There are big views, nice southern exposures, quality amenities, and fantastic proximity to Tahoe’s best activities year-round. I look at it as a micro-market since it has enough sales volume and a captive audience of enthusiasts. Therefore, it also enjoys an attentive buyer target group.

I have lived in Dollar Point. I talk to Dollar Point owners and sellers often and thoroughly enjoy discussing the neighborhood. I have clients and friends throughout the neighborhood. When selling in Dollar Point, I combine my neighborhood knowledge with 14 years in the business and 23 in Tahoe. I am known for high-quality, creative marketing. See more about my approach here.

I hold the MLS record for the highest sale in the neighborhood at $8.199m. I represented the sellers of the fantastic Alpenhaus (see DollarPointLakefront.com). Before that I sold an impressive lakeview home on Edgecliff for $4,000,000.

_____________________________________________________________

“We are very happy with the deal, Alex. You made it happen and you are a hero.”

– Neil and Karen B. Sellers of 3266 Edgewater. Closed price $8,199,000. Record breaking lakefront sale in Dollar Point.

Get in Touch with Alex

3266 Edgewater Drive. Sold by Alex for $8.199m, July 2015.

3266 Edgewater Drive. Sold by Alex for $8.199m.