The Tahoe Sierra Market has just seen it’s most successful first quarter ever. Total residential sales grew by 6%, with 83 homes traded at prices greater than $1 million. Specifically looking at Schaffer’s Mill, they saw 9 sales/pending sales in Q1. Shaffer’s Mill is centered between the slopes of Northstar Resort and the shops of downtown Truckee. This private location offers a resort lifestyle close to a bustling town. Real Estate opportunities in Schaffer’s Mill include estate-sized homesites or custom quality Lodge Townhomes.
Looking at the first quarter of 2018, there were 3 developer homesites under contract from $430,000-$599,000, and a resale homesite that is scheduled to close this month as well. This shows us the demand is still alive for those wanting to build. We also saw a resale of a mountain lodge which sold for $1,150,000, and closed escrow in less than 20 days, and a resale of a custom home, which is pending to close at the end of this month. Also, three new mountain lodges, which are currently in the building process, have reservations ranging from $1,470,000-$1,570,000.
With 9 sales/pending sales thus far, we anticipate a very busy spring and summer. Their newest offerings are currently in the building process and include new mountain lodges, as well as an addition to the South Village portion of the clubhouse. This addition will be completed in 2019 and will have views of Lookout Mountain and the golf course, and will feature their indoor/outdoor restaurant, 1867 and “Horn Bar”. For more information on the club, homes, homesite, and more, feel free to send me an email or give me a call.