Northstar continues to thrive as the leader in luxury ski resort real estate in the Tahoe/Truckee region. During the first quarter of 2018 there were a total of 20 Northstar properties sold, with a median price of $912,500, which is the highest sales price average since 2008.
Within Northstar there are several different neighborhoods showing steady performance. The highest number of transactions was seen in Northstar’s bustling Village, with 7 condos changing hands. Not falling far behind were the Vintage condos, proving that they still have something to offer, despite being outdated in comparison to the higher altitude options. Single-family home sales didn’t perform quite as well, with only four sales, potentially due to the incredible accessibility of the sleek and modern Mountainside offerings with the only true ski-in, ski-out access. In addition to their access, there are other major perks to the Mountainside lifestyle that are attracting buyers: homeowners are able to utilize both the Ritz Carlton and swanky Treehouse amenities, transportation is provided to the Highlands Gondola accessing the Northstar Village without parking a car, and exterior maintenance is 100% taken care of. Mountainside saw 4 transactions, all of which were north of $2 million dollars, evenly spread out between the Stellar Townhome collection, Trailside, the Ritz Carlton, and M25.
Q1 Northstar sales:
- 7 The Village at Northstar condo sales
- 5 Vintage Northstar condo sales
- 4 Big Springs Single Family Home sales
- 4 Mountainside at Northstar sales
Heading into the second quarter of 2018, the real estate market at Northstar continues to weigh in favor of the seller. The current inventory is limited to 54 active listings, and only 1 pending sale. This depleted inventory will likely cause home values to continue to increase, as the desire for owning a second home within close proximity to the slopes is as strong as ever before.