Coronavirus and the Gray's Crossing Real Estate Market

Posted by Jackie Ginley on Wednesday, April 8th, 2020 at 4:06pm.

Price Reductions Present Buyer Opportunities

Gray's Crossing Golf Course Homes

Gray’s Crossing, a newer golf course community of some 450 homes near downtown Truckee, saw 4 homes sell in the first quarter of 2020, a nice rebound from the first three months of 2019, when there were no sales. All of this year’s sales are homes that had gone into contract by late February or earlier, well before Tahoe and the rest of California was shuttered.

The median sales price this year so far is $1.3 million, but that figure could jump if two of the homes currently in contract close for close to their asking prices. One went under contract on March 14, the day before Tahoe’s ski resorts were shut down. The other – a stunning new home on the golf course at $1.9 million - had an accepted offer on April 2 (proof that while the market has slowed in parts of Tahoe, it is not dead).

Grays Crossing Homes for Sale

Gray’s Crossing is a very walkable neighborhood of mostly newer contemporary homes on largely level lots.  But it got is start just before the recession, and the road to recovery was a bumpy ride. 

Going back as far as 2005, just before the Truckee market hit its pre-recession highs, lots in Gray’s were selling briskly and fetching prices north of $400k. By 2011, bargain hunters could pick up some of those same properties for a quarter of the price, and the median price of a lot at Gray’s sank to just $35k. 

Home sale prices at Gray’s Crossing climbed steadily, with last year’s median sales price of almost $1.6 million approaching pre-recession pricing.  In early April there were seven homes for sale at Gray’s ranging in price from $1,899,000 for a brand new 3,351 square foot mountain modern home on a cul de sac to $1,275,000 for a contemporary 2,585 square foot home built in 2016.

The majority have been reduced in price, representing an opportunity for buyers ready to move before the market picks up steam again.

Please call or text me if you would like a FaceTime or virtual walk-through of these homes!   

~ Jackie, 775-391-9443

Residential in Truckee & more... over $50,000

9 Properties Found. Page 1 of 1.
Photo of Listing #20200657

11478 Henness Road, Truckee

$2,770,000 - 4 Beds, 5 Baths, 4,009 Sf

MLS® # 20200657

Tahoe Mountain RealtyTahoe Sierra MLS Logo
Photo of Listing #20200981

10820 Ghirard Court, Truckee

$2,500,000 - 4 Beds, 5 Baths, 3,582 Sf

MLS® # 20200981

Tahoe Truckee Homes IncTahoe Sierra MLS Logo
Photo of Listing #20201041

11526 Henness Road, Truckee

$1,975,000 - 4 Beds, 4 Baths, 3,223 Sf

MLS® # 20201041

Tahoe Mountain RealtyTahoe Sierra MLS Logo
Photo of Listing #20200271

11760 Ghirard Road, Truckee

$1,899,000 - 4 Beds, 4 Baths, 3,351 Sf

MLS® # 20200271

Carr Long Real EstateTahoe Sierra MLS Logo
Photo of Listing #20193083

11874 Coburn Drive, Truckee

$1,645,000 - 5 Beds, 5 Baths, 3,854 Sf

MLS® # 20193083

Engel & Volkers Truckee 1Tahoe Sierra MLS Logo
Photo of Listing #20192492

11664 Kelley Drive, Truckee

$1,449,000 - 4 Beds, 4 Baths, 2,971 Sf

MLS® # 20192492

Tahoe Mountain RealtyTahoe Sierra MLS Logo
Photo of Listing #20192334

11090 Henness Road, Truckee

$1,275,000 - 4 Beds, 4 Baths, 2,585 Sf

MLS® # 20192334

Sierra Sotheby's Int Rlty TK2Tahoe Sierra MLS Logo
Photo of Listing #20193201

10229 Annies Loop A7, Truckee

$960,000 - 3 Beds, 4 Baths, 2,227 Sf

MLS® # 20193201

Carr Long Real EstateTahoe Sierra MLS Logo
Photo of Listing #20190415

10247 Annies Loop A3, Truckee

$819,000 - 3 Beds, 4 Baths, 2,227 Sf

MLS® # 20190415

Tahoe Mountain RealtyTahoe Sierra MLS Logo

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Listing information last updated on June 2nd, 2020 at 9:09am CDT.

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