Lahontan Homesite Activity
Posted today were three new homesite sales from the luxury community of Lahontan. Two of the three sales mark the two most expensive Lahontan homesites sales of the year at $815,000 and $725,000. The average of these three sales was $571,000. While Lahontan has recently been overshadowed by the Goliath of Martis Camp, these comp sales show Lahontan resurfacing as a prime luxury homesite player with a new and different personality.
In recent years it has become apparent that Lahontan is the most under-valued community in the area. Of the 151 most recent Lahontan homesite sales, dating back to 2010, only one had surpassed $400K, and 80% sold under $200,000. Dating back to 2011, Martis Camp is yet to post a homesite sale under $300,000 and 86% have sold over $500,000.
As more and more buyers continue to appreciate the value in Lahontan, I believe we will see the values start to rise. Lahontan has revamped their club atmosphere and a recent multi-million dollar amenity upgrade shows a strong thriving community. Lahontan is no longer the old ford pickup but more the restored Mustang with heavy horsepower.