Monday, March 31, 2014

North Lake Tahoe Ski Resort Closings 2014

27 More Days of Ski Resort Fun! 

Spring has sprung and Winter has just begun!  Don't put those skis and snowboards away quite yet.  There are still 27 more days of mountain operation in the North Lake Tahoe area with Squaw Valley and Alpine Meadows being the last to close on April 27th.  Winter is still here and the snow even more snow falling now.  With more than 2 feet of new snow reported for this last week, the skiing has been excellent and keeps getting better! 

Spring it On! is this weekend, April 6th At Northstar.  With face painting, balloon artist, live music and featured event, the pond skim.  Skiers and snowboarders can test their skills from snow to water wearing their best luau costume.  Sure to be a fun day for those participating or spectating.  This is my favorite Spring event.  Thinking about coming up this weekend?… there are so many reasons to come!  

Katie Tyler

BRE 01442453
c 530 277 1012 

Tahoe-Truckee Regional Market Summary Q1 2014

Tahoe-Truckee Regional Market Summary Q1 2014

The 1st Quarter of 2014 has been a study of contrasts for the Tahoe -Truckee Region as the impacts of a sub-par winter battle with increasing demand and plunging inventory for real estate.

The total number of transactions through the first three months of the year has dipped 25%  from the same period in 2013; a figure roughly proportionate to the drop in skier visits through the first half of the season. Average price, however, has surged by nearly 29% from $694,264 to $901,111.

The luxury real estate segment has lead the way with two lakefront transactions greater than $10,000,000 and 42 total sales greater than $1,000,000. Knowing that luxury sales generally gain momentum throughout the calendar year, this represents an excellent first quarter.

Resort Market Summary

Northstar has followed market trend with just 22 closed residential transactions year-to-date. Like the larger segment, luxury sales have driven average prices up by 49%.  Five sales at prices greater than $1,000,000 including 4 Ritz-Carlton Residences, 3 Big Springs Homes and 1 Vintage Northstar property have buoyed sales. Another four luxury properties are pending sale including three Home Run Residences set to close in April.

The closing of Homesite #19 at Martis 25 found Mountainside at Northstar for $1,645,000 is the largest land sale recorded in the region thus far in 2014.

An interesting comparison can be drawn to 2012, a year with a similarly dry winter impacting real estate sales. In the first quarter of that year, just 17 sales were transacted.  As guests returned to the region for summer, a larger than normal number of sales occurred in the latter part of the year rendering the Q1 number just 18% of total sales for the resort.

In comparison during the winter of 2013, which started off with a significantly better snowpack, 27 Q1 sales were 27% of the annual total. 

Other resort communities have seen similar market dynamics with 14 improved residential properties closed between Old Greenwood, Gray’s Crossing, Lahontan, Martis Camp and Schaffer’s Mill. While each of these communities has individual market dynamics, when viewed together they show stability of price and volume in comparison to a year ago. However, ten sales are pending throughout these communities at asking prices 13% higher than those already closed this year.
Vacant Land

As prices throughout the region continue to rise, construction activity has increased dramatically.  This has had a corresponding impact on demand for vacant land throughout the region. While closed transactions have decreased by 12%, median price has leapt by 57% from $83,000 to $130,000. The communities that experienced the most dramatic depreciation in the downturn have seen the greatest improvement. Gray’s Crossing has traded 93 homesites since January, 2013.  Year-to-date the average selling price has more than doubled from the same period last year. Also noteworthy is the range of sales, up from $21,500 - $89,000 to $59,900 - $192,500.

Similarly, Lahontan has 65 sales since January 2013 with prices leaping 125% since Q1, 2013. The range of sales for that community has increased from $50,000 - $150,000 to $95,000 - $275,000.

Both communities expect to have 30 or more homes begin construction in 2014.

Demand for homesites at the highest price points has increased as well. As mentioned previously, the highest land sale for the region in 2014 was a rare ski-in/ski-out homesite in Martis 25. Martis Camp continues on a strong trajectory with 33 homesites either sold or reserved.

Market Recovery

The resurgence of the Tahoe – Truckee Real Estate market over the past two years has gone a long way toward recapturing the values lost in the downturn. The market has improved 28% from the 2011 trough (through 2013), and 42% through Q1, 2014. These figures are now 12% off the market’s peak in 2006.


Despite a challenging winter, the market appears to be headed in the right direction. The combination of strong demand and limited inventory should combine to drive values even higher. As we wrap up winter and look toward summer, the visitation cycle will begin again. Based upon previous cycles, the velocity of transactions will likely pick up throughout the year; assuming there is available supply to be bought.

We look forward to sharing these insights with you as the year unfolds. Best wishes for spring.

Katie Tyler

BRE 01442453
c 530 277 1012 

Thursday, March 27, 2014

Mountainside reaches $120 Million in Sales

Tahoe-Truckee Real Estate Market Reaches $1 Billion in 2013 Sales

Home Run

Buyers drawn to ski-in/ski-out residential offerings of Mountainside at Northstar 
which just reached over $120 million in total sales.

In 2013, the Tahoe-Truckee real estate market saw the strongest demand for Lake Tahoe property in nearly a decade, with total sales topping $1 billion for the first time since 2005.  Average prices in the market jumped 16 percent from 2012.

"The Tahoe-Truckee real estate rebound is a result of the increasing demand for luxury, on-mountain real estate with year-round recreational opportunities," said Jim Telling, Partner at East West Partners.  "Buyers are especially drawn to the new, ski-in/ski-out offerings of Mountainside at Northstar," said Telling. 

Mountainside at Northstasr, the on-mountain ski-in/ski out development by East West Partners, is a Tahoe's new true ski-in/ski-out community.  "Mountainside offers a unique collection of residential properties with direct access to the slopes.  Mountainside owners avoid all the traffic hassles getting to the mountain and simply step out their door into the slopes."

Ritz Carlton, Lake Tahoe

Located mid-mountain, Mountainside at Northstar is anchored by The Ritz-Carlton, Lake Tahoe and includes Martis 25, a collection of twenty-five ski-in/ski-out custom homesites and Home Run, a community of 16 luxury ski-in/ski-out residences.  Mountainside sales recently surpassed $120 million in total sales.  Home Run's initial phase of residences is sold out; the final phase of residences is now selling.  Marits 25 currently has 40 percent of its homesites sold or under reservation.

Martis 25 View

Mountainside owners also enjoy close proximity to the world-class amenities of The Ritz-Carlton, Lake Tahoe and The Village at Northstsar.  And coming this summer is Tree House, Mountainside's private pool and fitness clubhouse.  For updates and more information on Mountainsdie, visit or give me a call today! 

Katie Tyler

BRE 01442453
c 530 277 1012