September 2026 delivered an exceptionally active finish to the traditional summer selling season across Truckee’s premier golf and ski communities. Twenty-three properties closed during the month, generating more than $102 million in total transaction volume, with activity extending across every luxury community tracked in this report.
Perhaps most notable was the breadth of the market. Martis Camp once again commanded the highest price points, including two transactions above $13 million, but September’s strength extended well beyond the ultra-luxury segment. Northstar Homes recorded seven sales, Schaffer’s Mill produced five, and both Gray’s Crossing and Mountainside posted meaningful transactions. Buyers were active across a remarkably wide spectrum of luxury ownership opportunities.
September also reinforced a theme that has defined much of 2026: demand remains strong, but pricing discipline matters. Several properties sold almost immediately, including multiple transactions handled off market, while others required significant time and price adjustments before securing a buyer. As we transition from summer into the increasingly important pre-ski-season market, buyers continue demonstrating a willingness to act decisively but largely when quality, lifestyle, and perceived value align.
Martis Camp
Martis Camp recorded five substantial sales during September, generating an extraordinary $45 million in total transaction volume. The community posted a median sold price of $6.3 million and median pricing approaching $1,800 per square foot, once again reinforcing its position at the very top of the Truckee–Tahoe luxury market.
The month was highlighted by two transactions above $13 million. 8133 Valhalla Drive closed at $14.35 million after just eight days on market, while 10820 Cairncroft Lane sold for $13.1 million off market. At a more approachable, at least by Martis Camp standards, price point, 8625 Huntington Court sold for $5.5 million after only six days and slightly above its asking price.
The contrast came from 10936 Olana Drive, which required 78 days on market and ultimately closed at $5.75 million after originally asking $6.5 million. That spread in outcomes continues to illustrate an important distinction within Martis Camp: extraordinary wealth and demand remain present, but buyers are still evaluating individual properties carefully. The community commands an undeniable premium, yet even here, pricing, architecture, setting, and condition continue influencing how quickly buyers respond.
Lahontan
Lahontan recorded one substantial closing during September, with 10250 Dick Barter selling for $6.7 million.
The transaction is particularly interesting because the property spent 334 days on market and originally entered the market at $7.5 million before ultimately closing nearly $800,000 below that initial position. For a community that has carried elevated inventory throughout much of 2026, the sale provides another clear illustration of the pricing dynamics we have been watching throughout the summer.
Lahontan remains one of Truckee’s premier private club communities, and buyers clearly remain willing to transact at significant price points. However, they have also demonstrated considerable patience when seller expectations exceed their perception of value. September’s sale reinforces that demand remains present, but in a market where buyers have meaningful choice, pricing strategy has become increasingly important.
Schaffer’s Mill
Schaffer’s Mill delivered one of its strongest months of the year with five closed sales ranging from approximately $1.67 million to $6 million. The community posted a median sold price of approximately $2.51 million and median pricing near $914 per square foot.
The breadth of the transactions is particularly notable. Two Modane Place residences sold for $2.375 million and $2.51 million, with the latter closing off market. Meanwhile, newly constructed 9400 Heartwood Drive closed at $4.5 million after just four days, demonstrating the premium buyers continue placing on turnkey, contemporary inventory.
At the very top of the community, 9304 Nine Bark Road closed for $6 million after 71 days on market. The property had been offered at $6.995 million, providing another example of buyers remaining engaged at increasingly sophisticated price points while still demanding value. Schaffer’s Mill continues evolving beyond its traditional middle-luxury positioning, with newer high-end construction increasingly pushing the upper boundaries of pricing within the community.
*Data comprises single family homes and townhomes.
Gray’s Crossing
Gray’s Crossing recorded two substantial sales during September, both exceeding $3.2 million. The community posted a median sold price of approximately $3.23 million and median pricing near $953 per square foot.
The most compelling transaction was 11111 Henness Road, a newly constructed home that sold for $3.2 million off market. Meanwhile, 10952 Ryley Court closed for approximately $3.26 million after 54 days, below its $3.495 million asking price.
Those transactions represent a notable step upward for Gray’s Crossing and further demonstrate the evolution of the community’s housing stock. As newer, increasingly sophisticated homes enter the market, Gray’s Crossing is beginning to compete at price points that would have been unusual only a few years ago. Its combination of newer construction, golf, larger homesites, and proximity to downtown Truckee continues creating a compelling alternative to the region’s more expensive private club communities.
*Data comprises single family homes and townhomes.
Old Greenwood
Old Greenwood recorded one closing during September, with a three-bedroom Villa at 12490 Villa Court selling for $1.4 million after 63 days on market.
The property ultimately closed below its $1.475 million asking price, reflecting the measured negotiating environment that continues to characterize much of the broader luxury market. While transaction activity within Old Greenwood has fluctuated considerably month-to-month, September’s sale follows three closings in July and a quiet August, illustrating just how episodic activity can be within smaller communities.
Old Greenwood continues offering an attractive combination of championship golf, Tahoe Mountain Club amenities, and convenient access to both Northstar and downtown Truckee. For buyers specifically targeting smaller luxury communities such as Old Greenwood, beginning the conversation early remains especially important, as compelling properties and potential off-market opportunities do not always become broadly available.
*Data comprises single family homes, villas, and townhomes.
Northstar Homes
Northstar Homes experienced an exceptionally active September with seven closed sales, easily making it the most active community of the month by transaction count. Sales ranged from approximately $1.17 million to $4.35 million, with a median sold price just over $2 million.
The diversity of the transactions is perhaps the most interesting story. At the lower end, 600 White Fir closed at $1.171 million, while 1623 Deer Path attracted a buyer after only three days and ultimately sold for $1.6 million, more than $100,000 above asking price. 712 Conifer also closed off market at its full $1.9 million askng price.
Demand extended well into the upper end of Northstar as well. Two Overlook Place properties closed at $4.135 million and $4.35 million, demonstrating continued appetite for larger, higher-quality homes within the community. With winter approaching, September’s activity provides a timely reminder that ski-centric real estate operates on its own seasonal calendar. Buyers looking to secure a Northstar property before ski season often become increasingly motivated during the fall, making timing particularly important for both buyers and sellers.
*Data comprises both Big Springs and Vintage Northstar single family homes.
Northstar Village
Northstar Village recorded one condominium sale during September, with Big Horn 512 closing at $1.97 million after 112 days on market.
The three-bedroom residence originally entered the market at $2.2 million before ultimately finding its buyer at roughly 10% below that position. Similar to several Village transactions we have tracked throughout 2026, the sale illustrates that buyers remain highly conscious of pricing, ownership costs, and competing resort inventory.
Yet the fundamental appeal of Northstar Village remains unchanged. True walk-to-ski convenience, turnkey ownership, restaurants and amenities immediately outside the front door, and direct access to Northstar California Resort create a lifestyle proposition that is excedingly difficult to reproduce. As ski season approaches, timing becomes even more important within the Village, where buyer attention can shift considerably with the seasons.
Mountainside
Mountainside recorded one particularly notable transaction during September, with a four-bedroom Ritz-Carlton Residence closing at $6 million after 32 days on market.
The property sold at its full asking price and achieved approximately $2,539 per square foot—the highest price per square foot of any transaction across the luxury communities tracked during September. That result speaks to the premium buyers are willing to place on true ski-in/ski-out access, turnkey ownership, and the service-oriented lifestyle associated with the Ritz-Carlton.
Mountainside remains one of Northstar’s most specialized luxury segments, and its relatively small size means individual monthly sales can vary considerably. For buyers focused on Mountainside and other limited-inventory communities, early engagement is particularly important. Some of the most compelling opportunities can emerge privately or with limited market exposure, making access to both listed and potential off-market inventory especially valuable.
*Data comprises all Mountainside neighborhoods, including M25 single family homes.
