Gray’s Crossing – A Year In Review

Greetings –

Gray’s Crossing is located on the North end of the Martis Valley and offers peaceful seclusion from crowds and traffic, without the feeling of isolation. Gray’s is a short 1.5 miles from Downtown Truckee with its vibrant shops and restaurants, appealing to primary residents as well as the second vacation home owners alike. The home owners at Gray’s feel like they belong to a community that is woven into the fabric of Truckee with a nearby middle school, as well as a brand new recreation facility and world class aquatics center managed by Truckee-Donner Recreation & Park District right next door. With the affordable amenities, close proximity to downtown Truckee, numerous ski areas and some of the best lake recreation you will find anywhere, it is no wonder that this community is thriving with a mixed population of primary residents and 2nd home vacation residents who love the small town charm of Truckee and close knit community feel of Gray’s Crossing.

I had big expectations for the community of Gray’s Crossing in 2016, and it didn’t disappoint. With 111 homesites sold in the last 3 years, it was only a matter of time before the community had some exceptional custom homes for sale. In 2016, Gray’s Crossing has nearly tripled the number of homes sold with 18 closed at an average price of $1,319,000 at a total sales volume of $23,748,000. This is an increase of 264% in sales volume when compared to 2015 which saw 7 sales at an average price of $1,285,000 for a total volume of $8,995,000. It is interesting to note that 7 of the sales in 2016 were over the price of $1.4M when compared to only one sale in 2015 above $1.4M. Of the 18 sold, the high sales price was $1,735,000, which is nearly $300K or 17% higher than the high mark of $1,445,000 in 2015. The average list price of the 4 homes currently pending sale is $1,451,750.

I look forward to an exciting 2017 in Gray’s with many new custom homes on the horizon. Gray’s Crossing is made up of 5 communities totaling 377 homesites set on 750 acres with over 700 acres of open space and trail network. There are currently 100 homes completed with another 37 under construction. I believe that we will see 1/3 of these homes come on the market for sale as custom spec builds with the rest being primary and secondary home owners building to suit. This sets a great foundation for Gray’s with over 2/3 of the new construction being built custom for end users. As those users have friends and family visit there are some good options for them to purchase with immediate gratification to move in and enjoy. The design-build process is very rewarding for those who choose to engage, but can also be very time consuming.

With that in mind there is a great new development in Gray’s Crossing with the Fairway Townhomes. The first triplex is completed along with a furnished model and is on the MLS available to purchase.

Fairway Townhomes at Gray’s Crossing:
Gallagher Construction is a local developer that is completing the vision for The Fairway Townhomes with 12 new residences to flank the five existing townhomes that have sat alone for nearly a decade. Gallagher Construction has been a staple in high end custom home building throughout the Tahoe-Truckee area and is very excited to deliver the opportunity for home ownership under the $1M mark in a highly desirable resort community. The first three townhomes are priced at $795K, $675K and $875K for 3 en-suite bedrooms and powder bath ranging from 1,942 sq. ft. up to 2,227 sq. ft. The mix of materials inside and out offer a perfect blend of modern finishes along with warm mountain accents. I hope you are able to stop by and see the furnished model which will be open daily for showings.

fairway-townhomes_exterior

TAHOE MOUNTAIN REALTY

SHANE JONES
BRE 01890422
M. 530.448.5141| O. 530.550.2021
www.tahoemountainrealty.com

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