Market Update for End of October 2013

Mother Nature gave us a real taste of winter this week and it was cold enough for the snowmaking team at Northstar to bring out the snow guns for the first time. Opening day for Northstar, Heavenly, and Kirkwood is set for November 22, (thank you Vail Resorts) right in time for Thanksgiving.  Squaw Valley opens after Thanksgiving and Alpine Meadows just before Christmas. This is a great time to showcase some of the phenomenal ski-oriented properties that are on the market as we near ski season:

The Mountainside community, located mid-mountain at Northstar, continues to make an impression on the resort buyer from near and far, with well over $100 million in sales. Mountainside is anchored by the 5-star Ritz Carlton Hotel.  Home Run townhomes incorporate tasteful modern and mountain design elements with functional floor plans that blend the indoor and outdoor space in this community. These townhomes are certified leed gold, while offering true ski-in/ski-out residences. Ownership is accompanied with a 2 year membership at The Ritz-Carlton Spa and Fitness, Tahoe Mountain Club, and soon to be Treehouse.  Left for sale is only the completed model residence in phase 1, while phase 2 of Home Run is well under construction with buyer tours each weekend.  By the time there is spring skiing on the agenda, owners of phase 2 will have the ability to own and ski off their porch.  Click Here to View Listings

The Ritz-Carton Residences have sold a total of 9 Residences of the 23, which equates to about 1 sale a month.  The Residences that have sold thus far have sold for about $1000 per/ft, but the best view and location residences are still left with amazing opportunity to own Northstar’s most prestigious location.  What a great investment property as the vacation rental demand is high. I understand that only two of the owners plan to offer this use in their private residences so far.  Keep in mind that when these residences were initially offered, 11 of them had contracts at nearly double the price of what they are offered at today.  Reach out to me for details and pricing.

One of the most exciting listings in all of Tahoe is coming to the market in a few weeks.  The very first home being built in Mountainside’s Martis 25 on homesite 5 is going to be offered for sale.  Construction is underway on the 8,000 sq foot home with a “ski-hut” right on the edge of the groomed ski run.  I will get details and renderings out as soon as they are available, but feel free to reach out for a set of plans.  This ski-in/ski-out private home will be offered in the 9 million range (to be determined) or about $1200 per/ft.  Gated, with incredible views of Martis Valley along with Ritz, Tahoe Mountain Club and Treehouse amenities will rival Martis Camp homes, which are only near the Lookout ski-lodge in the same price per/ft range.

Speaking of Martis Camp, sales on both homesites and custom homes there continue to defy normal sales statistics, with over $100 million sold in first half of 2013.  Now Forbes has recognized Martis Camp as not only the best community in Tahoe, but “Possibly the Best Four Season Private Community in The U.S.” http://www.forbes.com/sites/larryolmsted/2013/10/02/the-best-four-season-private-community-in-the-us/

A few of my favorite properties for value and/or location in Martis Camp at the moment:  Click Here to View Listings

Lastly, I must bring to your attention a stand-out listing in Northstar that I toured yesterday at 317 Skidder Trail, in original Northstar.  This 4/4.5 “Lodge” was built in 1998 and boasts 4,740 sq. ft.  Soaring wood ceilings are strategically designed to overlook a golf tee and fairway with gorgeous floor to ceiling windows.  Recycled timber and dramatic rustic beams give this old Tahoe charm I have not seen in Vintage Northstar before, more reminiscent of a Martis Camp masterpiece or Tahoe Lakefront…priced at $2.4M.


The market this October has been incredibly active.  Last week I toured many buyers around the lake, in fact 7 full days in a row, a record in my 14 years of selling Tahoe real estate.  As October winds down, I’ll be sure to update next on continued impressive sales statistics that validate our upward trending market in North Lake Tahoe and Truckee.  If you would like to search listings, feel free to do so at my website:  www.tahoelakeandskiproperties.com