2017 Village at Northstar Mid-Year ReportMatty McInnis, July 18, 2017 in Market Update, Real Estate, Summer in Tahoe, TMR
Evidence of a strong winter has finally showed its effects in the Village at Northstar as sales since January 1 have caught fire. Consumers, looking for vacation property, while seeking to avoid the hassles of property maintenance, have gravitated towards products like the Northstar Village for their ease of ownership, centralized property management team and to be steps away from skiing and amenities.
Northstar Village showing activity was very strong all winter, and since the start of the year, consumers that were seriously considering purchasing have now started to act in the offseason in preparation for another strong winter waiting just around the corner.
Already in 2017 the Village has recorded 15 sales, a whopping 87.5% increase over 2016’s 8 sales year to date with an Average Days On Market of 119 days. Median price per square foot also jumped by 5.91% from $575/foot to $609/foot with most notably 8 of the 15 sales this season being 2 bedroom units.
In addition to simply the strength of the current market, possible reasoning for this surge in two-bedroom activity could be directly attributed to their reasonable, median pricing of $759,000, as you have ample space for entertaining multiple families, strong rental revenue while not assuming the larger HOA expenses that would accompany a larger unit.
With 25 active listings in the Northstar Village, don’t miss your chance to claim your perfect home-base for what is lining up to be another epic winter at Northstar.