Year End, 2016 Alpine Meadows Market OverviewJeff Brown, January 24, 2017 in Alpine Meadow, Market Overview, Real Estate, Trends, Year End
Like most communities in the Tahoe Truckee region, Alpine Meadows real estate experienced a very strong 2016.
31 residential sales equal the strongest number since 2011 and within one sale of being the greatest quantity on record. The common denominator between 2011 and 2016 is plentiful snow delivering the necessary ingredient for loyal consumers to visit.
Values in Alpine Meadows have been on an ascent proportionate to the overall market with 3% gains over the past 12 months and similar improvement annually since 2013.
The Alpine Meadows consumer is exceedingly loyal and drawn to the authentic connection to nature whether a superior mountain for winter sports or world-class trails and vast wilderness for summer exploration. As diverse as these recreation options, the Alpine Meadows consumer spans a similar economic range.
The highest priced sales are often 3 times greater than median price and regularly reach near $2,000,000. In 2016, Alpine Meadows posted 5 sales greater than $1,000,000 equaling the highest number of luxury sales in any given year. Demonstrating an appetite for new product, the only transactions in 2016 involving product built after the millennium saw premiums $200 – $300 per square foot greater than dated product. Among current inventory, two exceptional products are offering a new level of luxury for Alpine Meadows:
With snowfall already approaching annual totals, demand for Alpine Meadows is likely to grow throughout 2017. With inventory limited to just 3 month’s supply, upward pressure on pricing is likely.
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