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Happy New Year!

The close of 2017 was strong for the real estate market in TMR’s core communities.  The last week of December generated nearly $13M in pending sales. Northstar, Gray’s Crossing, Martis Camp and Lahontan had meaningful activity.

A turnkey, single family home, a ski-in ski-out residential home site, and one of the increasingly popular Village Walk Townhomes entered contract over the holidays, leaving one VW Townhome, listed at $1.59M remaining on the market at Northstar California. The conveniently located, luxury townhome in The Village is well priced, sold mostly furnished and spacious enough to accommodate a large family.

The new construction, Gray’s Crossing 4 bed, 4.5 bathroom home that was featured in last weeks update at $1.7M entered escrow, as well as a premiere residential lot with mountain views on Labelle Court.

Martis Camp maintained momentum through the last week of December adding a custom $5.8M estate to the list of pending sales as well as residential lot.  Additionally the gated neighborhood at Lahontan traded a $1.35M property set on the 3rd green.

The burgeoning industry in Reno as well as in Northern California remains an indicator for real estate trends in the Tahoe Basin. As we welcome the New Year we anticipate the market to remain robust.