The luxury segment of the Truckee real estate market remained active in February 2026, with high-end buyers continuing to target lifestyle-driven communities known for golf, ski access, and private club amenities. While the broader Truckee–Tahoe market experienced seasonal moderation typical of mid-winter, the luxury tier demonstrated consistent demand for well-positioned homes, particularly those offering newer construction, modern mountain design, and proximity to resort amenities. February’s transactions across several of Truckee’s premier communities highlight an important trend that has been developing over the past several months: buyers remain selective, but when the right property hits the market, it moves quickly. Median days on market across these luxury sales remained relatively low, reinforcing the idea that demand remains healthy despite broader economic uncertainty and interest rate fluctuations.
Martis Camp
Martis Camp once again led the luxury segment in February with two notable home sales, including a median closing price of approximately $8.22M, reaffirming the community’s position as the premier luxury market in the Truckee–Tahoe region. Both homes sold extremely quickly, with a median of just five days on market and one selling immediately, a pattern that mirrors what we’ve seen in recent months where high-quality homes in Martis Camp attract immediate interest. The median price per square foot approached $1,950, highlighting the continued premium buyers are willing to pay for newer construction and access to Martis Camp’s private club amenities. While overall transaction volume fluctuates month-to-month due to the limited inventory in this ultra-luxury community, February’s activity reinforces a consistent theme: when inventory becomes available in Martis Camp, the buyer pool remains deep and decisive.
Lahontan
Although no homes closed in Lahontan during February, this type of pause is not unusual for one of Truckee’s most exclusive private club communities, where inventory remains extremely limited and sales often cluster around specific listing cycles. Over the past several months, Lahontan has continued to demonstrate strong pricing resilience, particularly for homes positioned along the Tom Weiskopf-designed golf course or those featuring updated mountain-modern renovations. Buyers continue to view Lahontan as one of the most refined and architecturally distinctive neighborhoods in Truckee, offering a quieter and more established alternative to some of Tahoe’s newer luxury developments. As inventory historically begins to return in the spring months, Lahontan will likely see renewed activity from buyers seeking the community’s unique blend of privacy, mature landscaping, and world-class club amenities.
Schaffer's Mill
The Schaffer’s Mill luxury market recorded three sales in February, with a median sale price of approximately $2.70M and a median $981 per square foot, placing the community firmly in the upper tier of Truckee’s resort real estate offerings. Homes spent roughly 26 days on market, suggesting a healthy but measured pace of buyer activity compared to the near-instant transactions seen in Martis Camp. Over the past several months, Schaffer’s Mill has maintained one of the most balanced luxury markets in Truckee, offering a blend of new construction and resale opportunities that appeal to both second-home buyers and investors alike. February’s transactions reinforce the ongoing trend: buyers remain attracted to the community’s golf course setting, walkability to amenities, and nexus to Northstar, all while still finding relative value compared to Tahoe’s ultra-luxury enclaves.
*Data comprises single family homes and townhomes.
Gray's Crossing
February recorded one luxury home sale in Gray’s Crossing, closing at $3.8M, a price point that highlights the growing appeal of this community within Truckee’s upper-tier market. While single-sale months are not unusual given the relatively limited inventory in the neighborhood, the transaction reflects a broader trend that has been building over the past year: buyers increasingly view Gray’s Crossing as an attractive alternative to the region’s highest-priced communities, particularly when newer construction and golf course settings are available. Homes in this community often appeal to buyers seeking a quieter residential feel while still benefiting from close proximity to downtown Truckee and the recreational amenities that define the Tahoe lifestyle.
*Data comprises single family homes and townhomes.
Old Greenwood
While Old Greenwood did not record any sales in February, the community has remained firmly on the radar of luxury buyers over the past year thanks to its resort-style amenities and Jack Nicklaus Signature Golf Course. Historically, transaction activity in Old Greenwood tends to fluctuate month-to-month due to the relatively overall small size of the community, but when properties do come to market they often attract strong interest from second-home buyers seeking the convenience of the Tahoe Mountain Club lifestyle. In recent months, the community has continued to benefit from demand driven by its family-friendly amenities, shuttle to Northstar, and easy access to downtown Truckee, making it one of the region’s most compelling lifestyle-oriented neighborhoods.
*Data comprises single family homes, villas, and townhomes.
Northstar Homes
The Northstar Homes market saw three closed sales in February, with a median sale price of $2.25M and approximately $806 per square foot. These properties spent a median of 16 days on market, indicating relatively strong buyer demand within the Northstar ecosystem. Compared to newer luxury communities, Northstar homes often offer larger lots and established mountain architecture, which continues to attract buyers seeking classic Tahoe character combined with convenient access to skiing, dining, and village amenities at Northstar. Over the past several months, Northstar has consistently demonstrated steady transaction volume, reflecting its role as one of Truckee’s most recognizable destination communities. Access to the exceptional amenities through the Northstar Property Owners Association (NPOA) remains one of the best values in the region at $1,700 a year.
*Data comprises both Big Springs and Vintage Northstar single family homes.
