April brings: Rain Showers, Easter and Market Activity!

The Sierra's never cease to surprise me.  Just when I think we are firmly planted in Spring, unsettled weather sprinkles our meteorologists with doubt and uncertainty, and we experience that unsettled pattern through wind, rain, some snow, and colder temperatures.  I just hope that May brings more sunshine, as I think we all could use a change!  Luckily, our real estate market has noted the season, and settled into a more typical buying pattern than what we experienced this winter.  In the last 7 days we have seen 24  homes and lots sell, including 3 at the Northstar Lodge/Hyatt Residence club: units 304, 306 and 210 are now off the market.  While 304 and 306 have a signed confidentiality agreement, unit 202, a lovely 3 bedroom with the largest patio deck available facing the Village activity, sold for $1,020,000.  The Northstar Lodge expects to see 2 more units, 408 and 210, close within the next 2 weeks. Tahoe Donner saw the most closings with 9 out of the 24 sales.

The luxury market takes its place at 3 sales, representing Squaw, Northstar and Lahontan.  More interesting in this market is what went into contract in the last week:
79 Winding Creek in Painted Rock, Squaw, has gone into contract with an asking price of $1,650,000; The Resort at Squaw Creek saw a condo unit enter into contract with an asking price of $1,500,000;
609 EJ Brickell
at an asking price of $1,195,000; and the largest sale of the week:
8336 Valhalla at Martis Camp with a listing price of $5,975,000.


While the median price for closings remains well under the luxury market pricepoint, at $455,000 for a single family residence, it is encouraging to see that luxury market sales remain strong and stable, especially in Lahontan, Martis Camp, and Northstar.  Inventory is sure to grow as we "spring" into Summer, and I expect continued interest to grow in Martis Camp, especially when the Lodge makes its grand opening, providing Martis Camp owners the creme de la creme of private amenities.  Happy Easter, everyone!