Squaw Valley 2016 Market Overview
Squaw Valley has been significantly impacted by two factors over the last two years that I believe have been the major driver of the increase in sales for 2016. First of all last ski season was a good one. With the start 2017 is off to for snow this will be another great ski season and real estate year for Squaw Valley. The second factor is overall the sellers in the Squaw market seem to have become more realistic with their listing prices and are now more aligned with buyer’s perception of values in the market. The overall market improvement hasn’t hurt either but I do believe the two aforementioned points are the impetus for the sales increase in 2016 over 2015.
Some might say the Squaw Village development idea is helping real estate sales but that can actually be argued either way. I don’t think that is a clear factor.
Below is a comparison of 2016 sales to 2015 for Squaw Valley homes and condos.
2015 Squaw Home Sales` 11
$14 Million Total Sales Volume
$1,350,000 Median Price
$1,277,000 Average Price
2016 Squaw Home Sales 35
$38 Million Total Sales Volume
$1,125,000 Median Price
$1,529,000 Average Price
2015 Squaw Condo Sales 35
$18 Million Total Sales Volume
$450,000 Median Price
$515,000 Average Price
2016 Squaw Condo Sales 60
$25 Million Total Sales
$374,000 Median Price
$416,000 Average Price
In doing a basic comparison of Squaw vs Northstar sales for 2016 two items jumped out as interesting.
- The condo sales for Squaw compared to Northstar were identical in 2016 with 60 sales in each community. The Northstar average condo sale is over $300,000higher due to the much higher end properties available making for $44 million in sales in Northstar vs Squaw’s $25 million.
- There are far more studio and 1-bedroom condo sales in Squaw vs Northstar. 26 sales in Squaw in 2016 were studio or 1-bedrooms. 7 sales in Northstar in 2016 were studio or 1-bedrooms. In Squaw currently there are six condos in escrow vs 2 in Northstar. Four of those six condos are either studios or 1-bedrooms. I believe the reason for this is that families are more drawn to Northstar and then bigger condos and the more aggressive skiers without kids are attracted to Squaw.
Doug Flynn
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