Year End, 2016 Mountainside Northstar Market OverviewMatty McInnis, January 25, 2017 in Market Overview, Mountainside at Northstar, Real Estate, Trends
It’s safe to say that 2016 was a great year for the Mountainside community. Strong marketing efforts and exciting new products coupled with the hopes of another great winter positioned 2016 to greatly outperform prior years. Record breaking snowfall in early January has 2017 shaping up to deliver a strong start that continues this momentum.
2016 doubled prior year’s sales activity at Mountainside with 12 total transactions hitting the books compared to just 6 in 2015. Undoubtedly the closing of three Stellar Residences; each breaking the $3M mark, helped to bump the community’s average sales price up 27% from $1.78M to $2.26M. Price per square foot also jumped up 23% to $869.73, inching closer and closer to the elite $1,000 foot mark currently reserved for Martis Camp and Tahoe lakefronts.
In 2015 sales were comprised of two Constellation residences, three Ritz-Carlton Residences and one Trailside Townhome. 2016 sales also logged two Constellation Residences, three Ritz-Carlton Residences but also added two Trailside Townhomes, one Homerun Townhome, three Stellar Residences and one Stellar Townhome.
Most notably from a developer standpoint, Mountainside Partners saw closing of their 16th and final Home Run Townhome for $2.65M. Additionally, the developer unveiled two new homeowner amenities including three 500 square foot, hike-to “glamping” huts called the Rendezvous Cabins, and the newly constructed Yoga Studio set among a beautiful landscape, now offering classes to owners.
In the first week of 2017, market conditions have risen to meet demand for The Stellar Townhomes with transaction activity much like the blizzard conditions outside. The development team feels strongly that they have found the sweet spot in positioning and pricing as three more units are currently in negotiation with several more buyers threatening offers on remaining inventory. With new product breaking ground in the spring, and amazing homesites still available in Mountainside’s ski in ski out gated community named M25, expect to see the Mountainside continue to gain traction as the premier ski in/ski out destination in the country.