This week there were three new homesite sales within the luxury community of Lahontan. Two of these three sales were the most expensive Lahontan homesite sales of the year, at $815,000 and $725,000. The average of these three sales was $571,000. While the community of Lahontan has recently been overshadowed by a spotlight of interest and activity at Martis Camp, these comp sales show that Lahontan is once again resurfacing as a prime luxury homesite player with a new and different personality.
In recent years it has become apparent that Lahontan is one of the most under-valued communities in the area. Of the 151 most recent Lahontan homesite sales, dating back to 2010, only one had surpassed a listing price of $400,000, and 80% of homesites sold for under $200,000. Dating back to 2011, Martis Camp is yet to post a homesite sale under $300,000 and 86% of sales have been for over $500,000.
Homesite Sales: 2010-Present
As more and more buyers continue to appreciate the value of ownership in Lahontan, I believe that we will see the values of the properties within this community start to rise once again. Lahontan has re-vamped their club atmosphere with a recent multi-million dollar amenity upgrade. These are signs of an active community. Lahontan is no longer the old Ford pickup, and more the restored Mustang with heavy horsepower.
Featured listing in Lahontan:
585 Stewart McKay
4 bed / 4.5 bath / 3,850 sq.ft.
This new mountain modern home is centrally located within the Lahontan amenities and has sweeping views of Northstar’s Lookout Mountain. With the core features ready to go in, right now is the perfect time to work with custom home builder John McCabe, of John McCabe Construction to direct the final details at 585 Stewart McKay to suit your style and needs. Design elements that are sure to inspire your finish choices include: hand hewn timbers, a native granite floor-to-ceiling fireplace, and a reclaimed wood great room ceiling- sourced from horse corrals in Idaho and Montana. Enjoy this Thanksgiving in your new home!