This past week was a more balanced week with regard to real estate inventory levels in Tahoe. Unlike the week leading up to the 4th of July, where we had more than 126 new properties hit the market in one week, this last week was rather quiet for new listings. There were only 46 properties added to the market on the Tahoe Sierra MLS, and 10 of them were outside of the Lake Tahoe basin and Truckee/Martis Valley. These new listings were offset by the 33 properties that closed escrow and the additional 49 that converted from active listings to contingent deals in escrow since last Thursday.
What doesn’t show up on the MLS is the big success story at Schaffer’s Mill. Although this didn’t all happen over the last seven days, it’s still very noteworthy. Over the 4th of July holiday week, there were a total of 16 properties to go into contract for over $10 million in volume. This included half of the homesites in the new Alpine Ridge neighborhood and the first four Mountain Lodge models in the newly opened Vista Ridge neighborhood. If you still have not toured this community, please call me to schedule a time to check out everything that’s going on in the resort and to get an update on their newest offerings.
My Picks of the Week
Home Run Town Homes – Residence #12 just went into escrow this week, leaving only three of the 16 ski-in/ski-out homes left. Just since January of this year, we’ve seen six of these sell from $1.9M to $2.7M. This new Mountainside neighborhood of town homes is over 80% sold out in less than a year and a half. Now that the Tree House pool, fitness, and community center is open, Mountainside is a great spot for families to own in Northstar. The on-mountain living is elevated to a whole new level with the Ritz Carlton amenities, Tree House, and true ski-in/ski-out residences right on the slopes of Northstar. There are only two of the 4-bedroom and one 3-bedroom residences left. Get in before they’re sold out. Here is a link to the three remaining town homes.
Historic Richardson House – This 1880’s class A Victorian home was recently restored to its former glory. Modern amenities are tastefully incorporated with Truckee charm to provide luxury as well as uphold the historical integrity of the home. Sitting atop a hill overlooking the river and the downtown core, The Richardson House embodies Truckee’s past and present. This 7bd/7ba home is full of antique furniture and vibrant furnishings that provide both comfort and a taste of Truckee’s rich history and culture. Whether you’re looking for a personal residence, a vacation home, or an income property, the atmosphere is perfect for either a large group or a small intimate gathering. Panoramic views allow visitors to see it all, the bustling town below, the Truckee River, and the Sierra Nevada Mountains sprawling in all directions. The grounds perfectly compliment the interior of the home. The manicured landscaping and bright native flowers meander around the property. Priced at $1,099,000, this is a must see. Click here to view this listing.