Blog
Weekly North Lake Tahoe Real Estate Update
13 NOVEMBER 2012
The snow and cold temps have made this week in early November feel much more like December. We would like to think this early season base from Mother Nature is the beginning of a much-needed epic Tahoe winter. Are we making up for lost time?
This week I have had many conversations with buyers and sellers alike on the state of the Tahoe market, people seem to be wondering about Martis Camp specifically as the beacon for the area.
The success in the resale market at Martis Camp has been remarkable this year and has also solidified once again TMRRE’s position as not only the leading brokerage for referrals for new developer sales, but also as the leading brokerage for resale transactions. TMRRE has been responsible for successfully listing and/or selling about 40% of the 21 resale deals to date in 2012, far more then any other brokerage.
As a point of comparison, there were a total of 14 resale transactions in 2011 so we continue to trend up year by year.
The final developer release of cabin sites continues to be another huge success with over 42 of the 58 sites being spoken for to date. No doubt, this is a reflection of the ongoing demand for the overall lifestyle and amenities that Martis Camp offers families year round.
I expect that this winter we will see an increase again in resale activity as the inventory for the new cabin release that the developer has is dwindling and many of the available properties closer to the amenities under the $850K price range are resales (of the current 24 active resales, there are 6 under $850K) . We may also see some more new developer inventory hitting the market in the next few months.
Furthermore, TMRRE has several attractive listings for Martis Camp properties. For example, an elegant and secluded grand estate on Olana Drive is located in the heart of Martis Camp and it’s unlike anything else you will find in this community (photo above). Its design which has a cozy rustic feel is complemented by a European style. For more information about this property, click here.
TMRRE’s strong ongoing mutual relationship with the Martis Camp team has been invaluable in finding the best balance and right property for our clients, whether it is a developer site, resale site, or custom home.
In other areas, some recent notable transactions/developments include:
Northstar Village:
Contingent: Catamount 8204 2 BR/2.5 BA (short sale) list price $780,000 (TMR)
Contingent: Big Horn 7307 2 BR/2.5 BA list price $859,000 (TMR)
Reduced: Great Bear 4201 4 BR/4.5 BA to $1,899,000 (TMR)
Martis Camp resales:
Sold: Lot 185 for $741K (TMR)
Sold: Lot 95 for $640K (TMR)
Old Greenwood:
Just listed: 12466 Caleb Drive 4 BR/4.5 BA home (short sale) $879,000
Sold: Villa #4 3 BR/3.5 BA townhome (short sale) $675K (TMR)
Sold: Villa #7 3 BR/3.5 BA townhome $745K (TMR)
Gray’s Crossing:
Contingent: 11022 Meek Court 4 BR/4.5 BA home (short sale) list price $1,100,000
