Gray’s Crossing Real Estate Year-End 2019 Market Report

Gray’s Crossing Real Estate Delivers the Best Value in Truckee

Gray’s Crossing Real Estate Year-End 2019 Market Report: 2019 was a record-breaking year for Gray’s Crossing real estate sales as supply and demand were in equilibrium. Buyers took advantage of a multitude of new construction offerings helping push total sales volume up 44%! Buyers see the value that Gray’s Crossing offers as you can get a new construction golf course home for significantly less than homes in competing golf course neighborhoods. In 2019 we saw a notable shift from traditional lodge-style mountain architecture to the modern side of styling. This has been well received and helped bolster sales of these new construction modern mountain homes. New construction sales were up 40% which helped push the average price per square foot up 4% to $488.28. There were 8 sales over $500 per sqft which shows that buyers are willing to pay a premium for new construction modern mountain homes. To put things in perspective, older lodge style homes sold for an average price per square foot of $397.79 which is 20% below the average price per sqft ($495.82) for modern mountain homes.

Gray’s Crossing Real Estate Market Report Year End 2019 Highlights

Median home price is up 14% to $1,575,000
High sale price: $1,925,000
There were 8 sales over $500 per sqft which is up 25%
Average price per square foot is up 4% to $488.28

The Gray’s Real Estate Market is off to a Great Start in 2020

Demand for Gray’s Crossing real estate remains strong going into 2020 and I anticipate a strong year of sales, especially for new/newer construction homes. As I write this, we have seen 2 sales in January and we currently have 1 home in escrow that will close at the end of February. While these numbers might not seem exciting, consider that in 2019 (a record year) we did not see our first closing in Gray’s until April, which means that we are well-positioned for a stellar year of sales.

Currently, there are 12 homes for sale in Gray’s with an average price of $1,626,000. This is a good amount of inventory for this time of the year. But with the mild winter, I expect to see more homes go pending in the coming months and historically Gray’s Crossing selling season doesn’t ramp up until April/May, so we should be in a good position for another strong year of sales.

Year over Year Gray’s Crossing Real Estate Market Conditions and Value Trends

2019 Statistics

26 Single Family Home Sales Up 38%
New Construction Sales: 15 Up 40%
Avg. Marketing Time: 81 Days Up 14%
Avg. List to Sold Discount: 1% Down 50%
Total Sales Volume: $39M Up 44%
Average Price: $1.49M Up 7%
Median Price: $1.57M Up 14%
Average Price Per SqFt: $488.28 Up 4%
Sales over $500 Per SqFt: 8 Up 25%
High Sale Price: $1.92M Up 10%
Low Sale Price: $920K Up 5%
Sales over $1.6M: 13 Up 77%

2018 Statistics

16 Single Family Home Sales
New Construction Sales: 9
Avg. Marketing Time: 70 Days
Avg. List to Sold Discount: 2%
Total Sales Volume: $22M
Average Price: $1.38M
Median Price: $1.35M
Average Price Per SqFt: $467.38
Sales over $500 Per SqFt: 6
High Sale Price: $1.73M
Low Sale Price: $870K
Sales over $1.6M: 3

Gray’s Crossing Real Estate Year End Market Report Sales Chart