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Tahoe Truckee Snow and Market Update

We finally have SNOW !  After a record breaking number of days without precipitation, we woke up to a sparking blanket of white yesterday.  The ski areas are reporting around 7″ Thursday morning, with another 6 – 12″ on the way. Several resorts are planning to open new terrain as a result.  A small system should spin down the coast on Sunday that could bring additional snow fall Sunday night.  The forecast models show a strong low pressure setting up in the Gulf of Alaska next weekend and the big question is: Will the jet stream drop far enough south to bring us more snow? My bet is yes, the storm door is finally open.  This is great timing with Presidents’ week coming up. 

Over the last 2 weeks we have seen 82 new listings. We finally welcome a few nicer, high-end properties to north and west shores at the lake.  Also introduced was a 3 bedroom Great Bear Residence at the Village of Northstar for $1,695,000, a cabin in Martis Camp for $2,995,000, a Villa in Old Greenwood for $875,000, and lot/build package in Martis 25 on the ski-ways of Northstar for $4,895,000.

We saw 40 closed transactions. Included here are 2 more Ritz Residences, leaving just 11 of these penthouse residences left for sale.  These Residences are, in my opinion, still one of the best year-round property investments at Northstar. There will ever only be 23 residences, combined with five star amenities and services on the slopes. 

Currently there are 186 pending sales at an average of $900,000. I believe that with the snow, will come more sales to report, as many buyers that were up over the holiday will be back over President’s week to make purchasing decisions. 

My recent listing picks are both custom lot/build packages in Northstar.  The first is mentioned above, as a Martis 25 property, located at 19085 Glades Place for $4,895,000. The second is a new listing in Big Springs, which is in lower Northstar.  This will be a spacious Mountain Ski Lodge, reminiscent of classic old Tahoe style properties, with large timbers and custom woodwork touches throughout. Listed for $3.25M, it will be an attractive listing with over 5,000 sq ft. This property is off market as the builder gets organized, but click here for a preview.

We look forward to seeing many of you enjoying our fresh snow over Presidents’ Week!