Lahontan Home Values Stay Strong

Despite rising interest rates and a volatile economy, homes at the Lahontan Golf & Country Club held their value this year, finishing 2023 on par with the record prices we saw the year before.

With just 13 homes changing hands all year (and one more new home that closed Jan 2 at almost $1,230/sf), the volume of sales in Lahontan is just two-thirds of what it was last year. But the median sales price is holding steady at close to $4 million, bolstered in part by the sales of brand new homes fetching upwards of $1,100/square foot (SF).

The Lahontan Tradition

Lahontan is the oldest of Truckee's gated golf course communities. Having been developed in the late-1990s, it was a success story soon to be replicated at neighboring Martis Camp, and later, Schaffer's Mill -- the trio of gated golf course communities that today comprise the scenic Martis Valley.

Buyers who shop in the Martis Valley tend to tour all three communities, ultimately selecting the vibe and price point that suits their lifestyle and their investment goals.

Yet even at a median price point of close to $4 million, Lahontan remains somewhat of a bargain over neighboring Martis Camp, where lots are larger, amenities are off the charts, and prices are roughly double for similarly sized homes.

Historically, Lahontan homes embraced a Craftsman aesthetic where the design elements of Greene & Greene met Big Lodge framing. (Some of those older Craftsman-style homes represent a bargain in today's market, selling in the range of $700-$800/SF, which is less than it would cost to build there in today's market). But as buyers began to show a preference for more modern architecture, the look of new Lahontan homes followed suit.

Lahontan Contemporary Homes

Uber-contemporary homes are still more of a niche sell in Lahontan than in other neighborhoods like Martis Camp. The majority of Lahontan buyers continue to show strong preference for more contemporary homes featuring trimless windows and bold patinas on cabinets paired with french oak floors and rustic wood accents. The home that fetched the highest price per square foot in Lahontan this year -- with its shiplap walls and knotty wood ceiling wrap suggests that buyers still have a taste for some farmhouse chic flair.

Built by Heslin Construction, this home with views of Northstar, got its asking price of $5,725,000 (almost $1,230/SF)

And that sale might soon be eclipsed by new construction on Lahontan Drive priced at $1,253/SF. This contemporary home with waterfall granite in the kitchen, floating cabinets and french oak flooring, had an accepted offer the 1st week of December (asking $4,995,000).,

Lahontan New Home sale This new construction on Lahontan Drive has an accepted offer in early December

Despite the slow pace of sales, Lahontan homes closed on average within 95 percent of asking price, a strong indication that, while there are some deals to be had, Lahontan homes are holding the line on value.

While it's impossible to predict with any certainty what will happen 2024, my hunch is that Lahontan will continue to see strong demand because the community has a long track record of success, and it continues to appeal to those looking for the exclusive lifestyle at a price point within reach of today's Luxury Buyers.

Here's a rundown of 2023 sales:

Lahontan 2023 Home Sales

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