9001 Northstar Drive - OVP 501 Gondola Building

Winter Is Coming

Matty McInnis Matty McInnis, November 14, 2018 in Activities & Recreation, Northstar, Opening Day, Real Estate, Tahoe/Truckee, Winter, Winter in Tahoe

Yesterday, Northstar, CA. officially announced that the lifts will spin on Friday as snowmaking, grooming teams and mountain operations have been working hard to deliver the best possible product for you! Lifts open at 8:30…I’ll see you in line!

Matty_Cru NorthStar

And while maybe still a bit too early to distinguish, indications of a much needed change in the weather could compliment your Turkey dinners for all those planning on enjoying Thanksgiving up here in Tahoe. Have a look at the latest extended forecast as i’ll continue to keep you updated.

Real Estate
while inventory has crept back up to approximately 4.8 month’s supply for the region, most notable transactions for the week were two spectacular Lakefronts next door to eachother going into contract, 2340 Sunnyside Lane and 2360 Sunnyside Lane.

Matty_Sunnyside

Rumors around the water cooler suggest the buyers are in fact the same person and also perhaps a well known industry leader in the Northern California area. more details to come soon.

Overshadowed by these monsterous lakefront transactions, our core Truckee communities continue to plug away this month as Martis Camp recently recorded 7095 Villandry Circle for $7M, Lahontan with 7770 Lahontan Drive at just over the $3M mark, while Gray’s Crossing and Old Greenwood both posted sales for $1.3M and $1.1M respectively.

While perhaps still early in the month to tell, I am noticing more normalized trends as November is trailing 2017 transaction volume MTD by 25% with 54 closed deals to 72 PY. Meanwhile, as demand for good inventory still remains and sellers still holding the cards slightly in their favor, median days on market has decreased by 33% to just 39 days and median price is still up by about 23% to PY.

Savvy buyers that have been watching properties closely all summer are now acting, looking to solidify their holiday plans, grabbing Black Friday deals from sellers at the end of their listing cycles, while perhaps also recognizing that interest rates may continue to climb and now may be the most opportune time to buy.

See you in the lift lines,
-Matty