Incline Village Real Estate 9/1/19
It was an extraordinary week for the Incline Village real estate market. 13 properties went into escrow along with 16 new listings, 15 price changes and 17 places closing escrow. That’s 61 different events taking place just in Incline Village and Crystal Bay. The beautiful summer weather and lack of smoky skies has contributed to a very strong August overall. Even with stock market volatility taking center stage, buyers are not deterred from purchasing properties at Lake Tahoe.
The properties getting accepted offers last week ranged in price from $399,000 up to nearly $3.5 million. Throughout most of 2019 there has been good sales activity in all price ranges. Even though total unit sales are below 2018, that was an unusually big year. We anticipate that 2019 will finish up as an average to slightly above average year for overall sales by historic standards. There is even the possibility we could creep closer to the 2018 totals if activity remains strong during autumn.
We can’t delve into all the new listings this week as there are just too many to ponder. But there is one moderately low elevation condo that is definitely worth a look. If you missed out on the condo in Brookstone (which went into escrow just a couple of days after it was written about in this blog) you may wish to take a look at 998 Driver – #12. This is a two-bedroom, 2 bath, nearly 1300 square-foot, two-story townhouse style end unit in a small complex near the Championship Golf Course.
This lovely unit has many upgrades including hardwood floors, stainless steel appliances, granite counters and a remodeled master bathroom. Good size bedrooms and well proportioned spaces throughout make for a very livable floor plan. Offered at $529,000. Click Here to See a Virtual Tour
Getting a nice $26,000 price reduction down to $1,299,000 is Sabrina’s listing at 559 Silvertip Dr. Great low elevation location on a lot that is more than 4/10 of an acre. Three-car garage with direct entry to the mud room and kitchen. Plus you’ll find spacious living, kitchen and dining areas on the entry level. You won’t see many examples of Incline Village real estate at low elevation that also have expansion potential to add an entire 3rd floor. So, we recommend anyone shopping in this price range will want to check this one out and think of the possibilities.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 9/1/19
Houses Condos PUDs
For Sale 127 66 19
Under $1 million 15 43 13
Median Price For Sale $1,875,000 $620,000 $720,000
YTD Sales 2019 101 104 41
YTD Sales 2018 123 129 42
New Listings 16
In Escrow 13
Closed Escrow 17
Range in Escrow $399,000 – $3,475,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of September 1, 2019