//Old Greenwood Market Update | Q1 2018

Old Greenwood Market Update | Q1 2018

The Old Greenwood community showcased 3 strong residential sales over the 1st quarter of 2018, including two custom home sales exceeding $2 million. These custom home sales mark new heights and support rising values for the community. Low inventory within the regional market has imposed urgency on buyers, while giving sellers the leverage to increase price. This trend holds true for the region and bleeds heavily into the resort segment — Old Greenwood included. Steady sales over the past 4-5 years have offered more defined data to confidently evaluate the upward trend in pricing.

Buyers are still trending towards finished construction, however there is currently one pending homesite sale in Old Greenwood. 2017 posted 2 homesite sales.  These sales numbers are in balance with a healthy market considering the communities lack of vacant homesites.

Despite the market trend for new construction, both Q1 custom home sales were homes that are 10+ years old. The lack of new speculative construction within the community is still an opportunity the market awaits. I expect to see a new wave of listing come to market in late spring and continue the upward trend in pricing.

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Old Greenwood
Old Greenwood is a premier four-season resort community in North Lake Tahoe and home of Jack Nicklaus Signature Golf. Here you’ll discover mountain living at its finest with a selection of beautiful custom-built Estate Homes and elegant Villas and luxury Fractional Residences. Nestled near the historic town of Truckee on 600 acres of towering pines and blue-sage covered hills, Old Greenwood is the place you’ll long to be on a summer afternoon or winter evening. All year round, let the call of the outdoors beckon you to enjoy the incredible lifestyle that can only be found in beautiful Lake Tahoe, California. Learn More About Old Greenwood

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