The allure of Lake Tahoe has never been questioned but it appears as though “Lake Tahoe” homebuyers have new expectations. New resort communities have exclusive home ownership advantages and are capturing a prime share in the Lake Tahoe luxury market. Now more than ever, attraction to amenities, custom construction, and premier access to recreational activities has led to a majority of the luxury market exploring a diverse “Lake Tahoe” homeowner experience.
While Resorts sales numbers have soared the last two years we see a steady decline in the lakeside sales from 2012. These numbers confirm the market shift towards resort communities. Although total market sales volume is down from 2013, the resort sector is on pace to set new records.
The introduction to new resort communities has certainly played a significant role in the shift of the luxury market. New developments including Mountainside at Northstar and Martis Camp in Truckee have led the resort community charge, confirming the demand in proximity to recreational activities. Lahontan has long been a resort whale but is now sharing the market with new up and coming resort developments.
Mountainside at Northstar is the first all ski-in/ski-out community in California. Vaunting its ski access to and from you back door Mountainside offers condo residences at the Ritz-Carlton, Townhomes in Home Run, and custom homesites in Martis 25. Demand for this resort product has generated positive sales numbers despite market challenges in recent years. Extravagant amenities including the Ritz-Carlton and newly designed Tree House make for a year round luxury mountainside experience. Access to skiing and the Northstar Resort are an indulgence only Mountainside can offer.
Martis Camp is emerging as the most exclusive new private resort club in the area. Membership allows access to a stunning Fazio design championship golf course and vast amenities. The 2177-acre property consists of 671 total homesites. Construction is thriving as Martis Camp. There are currently 139 homes under construction and 68 more in the design review process.
Although Lake Tahoe will always be the backbone to our market, the proximity to the lake is becoming less and less important. The appeal of resort communities with new construction and exclusive access to recreational activities has taken precedence to lake access. Supply is flourishing in resort communities giving buyers custom home building options while lake properties are confined and restrained. Although the Lake community will always have appeal and demand it will be fascinating to see how market dynamic will play out. The inclination of sales numbers combined with astonishing number of construction starts has the resort sector of the market looking very attractive to the majority of Tahoe homebuyers.
Tahoe Mountain Resorts