Q1 2018 Gray’s Crossing Market UpdateColleen Loiseau, April 14, 2018 in Market Update, Real Estate, TMR, Tahoe/Truckee
Q1 2018 was strong for the golf course community at Gray’s Crossing. The average price for the 4 single-family homes sold was $1,388,000 up 1% compared to PY. Average price per sq/ft however, saw a significant 10% increase from $421 sq/ft in 2017 Q1 to $464 sq/ft in 2018, reflective of rising construction costs.
Home-site transactions soared as a result of delayed snowfall. 10 lots traded in Q1 2018, while only 2 transacted PY, typical of an above average winter for precipitation.
The inventory at Gray’s is limited as high season for real estate nears; with three completed construction homes on the market. Two of which are listed above the community’s record sale price of $1,820,000 in 2013.
Pending sales at Gray’s include a premium, golf course, lot in Sierra Cove with clear views of the Carson Range at a list price of $295,000. If the transaction closes it will be the peak of home-site sales in the neighborhood since 2008.