Capacity Conundrum at The Club

Lahontan, the Granddaddy of Truckee's gated communities, briefly experimented with freezing its social memberships, and has since adopted a new policy to handle the Covid-era demand. By 2021, amid Covid shutdowns, a social club membership at just $8,450/year with a $10k initiation fee was looking like such a bargain that many Lahontan owners decided to jump on board. 

The social membership includes use of the pools, a beautiful fitness center overlooking the golf course, and dining in style at the Lodge with a beautiful outdoor patio .  With everyone working from home, and many destinations shuttered due to Covid, Lahontan was looking like the place to be for those who owned vacation homes -- or even just dirt -- behind the gate.

Price Increases? Who cares ... 

The initiation fee doubled to $20,000 in May of 2020, but that didn't stem the tide. Faced with Covid capacity restrictions, Club GM Jeff Cobain decided in 2021  to issue a moratorium on social memberships, a decision that was made "in the best interest of the Club and its members." (read more)

Lahontan Homes for Sale

Why Buy a House if You're on a wait list to Use the Pool?

The moratorium meant that folks who were buying a home in Lahontan would not automatically be eligible to use the swimming pools or the fitness center, or even have a drink at the Clubhouse unless they bought a golf course membership, which were selling on the open market for close to $200k initiation fee back then (By November 2022, the least expensive one for sale was at $160,000 click here to learn how golf course memberships work in Lahontan).  If you're not a golfer, that's kinda steep ... 

Bottom line: the full moratorium was a short-lived experiment. The Club at Lahontan has since lifted the social membership moratorium for homeowners.. If you own a home in Lahontan, you're eligible to purchase a social membership (2022 rates for a social membership are $40,000 for initiation, which is non-refundable, and $9,350/year in dues).

Lahontan Home Sales Soared

In 2020, Lahontan home sales soared, with almost $100 million in sales and a median sales price of more than $2.8 million (a number that hasn't been seen in Lahontan since 2005, when the community was a novelty of gated living in Truckee.)  That 1st year of Covid crackdowns, 35 homes changed hands, and land for sale flew off the shelves, with 58 lots sold for a total volume of more than $23 million, an unprecedented number.

The trend continued in 2021 with the median homes sales price in Lahontan shooting up to $3.8 million with more than $80 million in total sales volume. By the 3rd Quarter of 2022, the median sales price had slid slightly -- down to $3.5 million -- but 25 homes had sold for a total sales volume of more than $83 million.

Lahontan Homes Sold

Preference for Rural Landscapes

In Lahontan, as in other Martis Valley communities, 2020-21 sales were largely driven by well-heeled buyers seeking an escape from the confines of Covid in urban areas. The phenomenon is driving a shift in priorities that might well have a lasting impact on the landscape in Truckee and Tahoe as more affluent buyers are able to work from home, and semi-private jet services like SurfAir expand to service the longer-distance commuter. (Hey, if it takes an hour to get to the Silicon Valley from the East Bay, or an hour to get there from Tahoe, where would you rather live?)

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Lahontan Home Sold Video

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