2019 Mid-Year Schaffer’s Mill Market UpdateTMR Team, August 5, 2019 in
There is no shortage of demand for private golf course communities in North Lake Tahoe. Since the development of Lahontan in the late 90’s, consumers have proven year over year that there is a market for all inclusive gated communities packed with amenities. Schaffer’s Mill is one of 3 private neighborhoods nestled into the Martis Valley. While boasting similar views and many of the same luxuries as the neighboring communities, Schaffer’s real draw has been price point. Buyers have been attracted to the allure of life in Martis Valley while avoiding the high premiums that Martis Camp and Lahontan continue to hold. Packed with modern construction, spacious homesites and an award winning golf course, Schaffer’s Mill continues to be sought after by those looking to escape to a peaceful mountain oasis.
Schaffers Mill is performing year to date almost identically to 2018. In the first 6 months of 2019, there was one single family home sale, which sold for $1,680,000. This is slightly lower than the single sale of Q1/Q2, 2018 at $1,750,000. It is important to note that of the 5 home sales last year at Schaffers, 4 of them closed in the latter part of the year. This can be attributed to buyers coming up in the summer months and getting a feel for the community/ amenities and then making a buying decision in late summer or fall.
The townhome sales at Schaffers follow a similar pattern to the single family homes with a slight upswing. In 2018, 4 units sold in the first half of the year, the lowest sale at $1,150,000 and the highest closing at $1,225,000. The average sale price was $1,226,250 with a total sales volume of $4,905,000.
Comparatively, in 2019 year to date, 5 units have sold to bring the total sales volume up 27% to $6,729,000. The lowest selling price was $1,035,000 while the highest unit closed for $1,600,000. The average townhome price rose 9% to $1,345,800. The affordability of the townhomes and their proximity to the clubhouse and amenities can attribute to the small but noticeable rise in sales. The townhomes are wonderful options for buyers who are seeking a maintenance free lifestyle and have a family dynamic that makes a smaller dwelling more attractive.
It is also important to add that these figures represent data collected from the MLS and do not factor for private developer sales, which are common in this community.