Ski towns are transforming into a luxurious refuge
The word has gotten out, and flocks of urban residents have taken refuge in remote mountain towns across the country. Tahoe is no exception. Ski towns like Aspen, Vail, Lake Tahoe are seeing high occupation, real estate demand, end countless bidding wars for single-family homes.
“’There is a frenzy of people who want to be here and who
will pay anything to be here,’ says broker Carrie Wells.”
The urban crowd that has migrated to these locations is mostly comprised of people looking to wait-out the pandemic in a location where they can easily recreate outdoors, escaping the confines of smaller spaces in cities and suburbs. And can we really blame them? Grand, open outdoor spaces have been a refuge for visitors and full-time residents alike throughout all of this.
Amie’s Thoughts on the Tahoe Influx:
‘The Lake Tahoe area of California is near multiple ski resorts but has always been just as, if not more, popular as a summer destination. Amie Quirarte, of Tahoe Luxury Properties, said that they currently have 304 single-family properties on the market — a major drop from 427 properties in June of 2019. There have also been 158 sales in the last 30 days, compared to 104 sales in the same period last year. Once the pandemic-induced restriction on short-term rentals was lifted, those soared too.
“Tahoe is really attractive because [temperatures are] in the mid 80s and we have a beautiful lake,” Quirarte said. “You can hike, you can run and you can do so many things outside right now. Being up here is just easy right now, and that’s really attractive for a lot of people. I will be very curious to see what happens when we move into our next season.”
She added that the pandemic has pushed many people with money to make spur-of-the-moment decisions about vacation properties. Many were tired of being cooped up in a city where most things were closed and looked for opportunities to live a quiet and outdoor lifestyle.
That said, Quirarte believes that once the pandemic is under control and businesses open up, the market will change yet again. Initially swayed by the charm of a mountain or lake lifestyle, some people will eventually start to miss big city life and opt to put their homes back on the market or rent them out.
“It’s a very different way of living,” Quirarte told Inman. “I think that people that were seeking that out prior to the pandemic will be the ones that stay, but the people that are looking for a change of scenery based on [the pandemic] will want to move on.”’