Year End, 2016 Northstar Big Springs Market OverviewTeddy Runge, February 3, 2017 in Market Overview, Northstar, Real Estate, Tahoe-Truckee, Trends, Year End
The year started with the resort community at Northstar being blessed with over 74” of new snow in the 7 days. Amazing ski conditions and welcoming snowfall has allowed for ideal winter activities all throughout the resort.
Aside from all the fun and wintertime happenings, the real estate market also ended the year with a bang. Northstar’s transaction volume totaled over $105,000,000 from January through December. This was an astonishing 126 percent increase from a year ago. And, the sales activity was not limited to any one particular area of the resort either. Several transactions were found in the new high-end development at Mountainside all the way down to the legendary condos surrounding the village.
As condo and single-family homes traded steadily it was the Big Springs neighborhood that caught my attention from the past year. Big Spring at Northstar is known for luxury homes, big views, and depending on what street, awesome ski access. According to our multiple listing services, Big Springs accounted for $20,570,000 of Northstar’s total transaction volume and eight sales averaging over $2,500,000 per transaction. There were multiple sales in this area above $3 million dollars in one year for the first time since MLS started recording data.
This was a rebound year for Big Springs largely driven by the flourishing economic demographics of Northern California, but also the conveniences only found being within the resort. Benefits include:
- Wintertime access to the Nordic trails, slopes, and ice rink
- Summertime trail access to mountain hiking and biking
- Direct shuttle services from door to Village
- Eliminate traffic lines to and from Northstar on Hwy 267
- Quick access to restaurants, entertainment, and shopping
- Reasonably inexpensive home owner dues $1,100 per year
Looking ahead to 2017, so far we have been blessed with frequent winter storms; ski resorts are thriving and robust crowds are visiting the region. Recent conditions and good inventory has created buying opportunities quickly realized through a stream of premium sales to Mountainside, Big Springs and the Village at Northstar at the outset of the New Year. In the coming months look for an update on the resort sales until then enjoy the winter adventures and be safe.