Last night, for the first time this summer, I felt an evening chill sweep through the Sierras. Although beautiful Tahoe days keep us absorbed in summer activities, we know that the white beard of winter has quickly begun its journey back. Most Nor-Cal schools are now back in session, and just like the seasons, the Tahoe real estate dynamics have shifted. Nine luxury single family homes sold last week for above $1 million, including 5 over $3 million. These numbers equate to almost 25% of last week’s sales and add energy to an already exploding segment of our market. Just outside of this segment was a homesite sale of $980,000 in the ski-in/ski-out area of Summit, Northstar.
As ski-in/ski-out properties continue to attract the most attention, the chill in the air is sure to stir up new winter buyers. Mountainside at Northstar Resort is Tahoe’s principle ski-in/ski-out community. Three new homes have broken ground in Martis 25, and 13 of Home Run’s 16 townhomes have sold, with six having occured already in 2014. Now, only three Home Run developer units remain on the market.
Year-to-date sales at Home Run include:
The next few months leading into winter are perfect for viewing some of the finest on-mountain living opportunities in the country, Mountainside at Northstar. Be sure to check out the new Tree House amenity center, which adds life to the Mountainside community with its events and gatherings. A property I’d like to highlight within this community is 19040 Glades Place. By late December, 2014, this residence will be the first completed home in Martis 25. The stunning 7,900 sq.ft. mountain ski lodge is currently on the market for $9,300,000 and represents the finest of on-mountain living.
Heightened summer showings and strong luxury sales numbers suggest that fall will be the biggest selling season of the year. We have supply, we have demand, and all we need is a little help from mother nature to blanket the Sierras once more, and I’m confident that she will.
For more real estate and market information, please don’t hesitate to reach out to me,