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

4 Properties Found. Page 1 of 1.
Photo of Listing #20202021
New Listing

11521 Bottcher Loop, Truckee

$1,650,000 - 5 Beds, 4 Baths, 3,273 Sf

MLS® # 20202021

Tahoe Mountain RealtyTahoe Sierra MLS Logo
Photo of Listing #20201935

11312 China Camp Road, Truckee

$1,250,000 - 3 Beds, 2 Baths, 1,707 Sf

MLS® # 20201935

Sierra Sotheby's Int Rlty TK2Tahoe Sierra MLS Logo
Photo of Listing #20201894

10173 Annies Loop C4, Truckee

$929,000 - 3 Beds, 4 Baths, 2,194 Sf

MLS® # 20201894

Tahoe Mountain RealtyTahoe Sierra MLS Logo
Photo of Listing #20201880

10201 Annies Loop B4, Truckee

$865,000 - 3 Beds, 4 Baths, 2,173 Sf

MLS® # 20201880

Tahoe Mountain RealtyTahoe Sierra MLS Logo

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Listing information last updated on August 4th, 2020 at 5:54am CDT.

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