2017 Q3 Martis Camp Market UpdateLiza Killen, October 8, 2017 in Luxury Real Estate, Market Update, Tahoe/Truckee
Recently, I was working with a family looking for their Tahoe retreat and asked the simple question: “Have you heard of Martis Camp?” They hadn’t. They were exploring other resort communities within Truckee, however, I knew then and there, that if they had the budget, Martis Camp was going to be their ideal place for a vacation home in Tahoe-Truckee. This seems to be the trend regardless of the family makeup, heritage or personality. Of course, there are exceptions to this norm, however Martis Camp continues to represent the jewel of North Lake Tahoe despite a slight lag of sales volume this year as compared to 2016.
Even with this lag, Martis Camp sales surpass Tahoe Lakefront numbers which could make the case that the luxury market may be shifting from the traditional treasure of a lakefront to a more all-seasons amenity-driven lifestyle. In 2016, Martis Camp saw double the volume as compared to lakefronts with 49 home sales vs 23. 2017 shows a similar trend with 31 homes sold thus far with 23 comparable lakefront sales. Why is this? Perhaps Martis Camp offers not only exceptional real estate but the opportunity for families to gather in majestic lodges, have direct access to world-class skiing, a private beach club on Lake Tahoe, championship golf as well as numerous club activities, family and kid-centric events, camps and exclusive concerts. Tahoe lakefronts will always hold a special place for families, however it is interesting to see how resort communities, like Martis Camp, offer a more rounded, inclusive lifestyle with not only the connection to the great outdoors of the Tahoe region but the community aspect of amenities and activities that so many families enjoy.
We have yet to close out 2017, but thus far there are 31 home sales with an average sales price of $4,472,822, a 3% increase over last year. More notably, 2017’s price per square foot average of $1,200 marks a 4.5% increase over 2016’s average. This year marks a record price per foot of $2,213 with a mere 2-bedroom guest home.
Homesites followed a similar trend with 30 sales year to date with an average price of $1,306,500 compared to last year’s 41 sales with an average of $1,286,000 or an increase in price of 1.5%.
That family ended up purchasing in Martis Camp and will begin a new collection of treasured memories in this beautiful, luxury, all-seasons, exclusive resort community.
Visit our Q3 2017 landing page for market updates on all of our core communities.