Incline Village Real Estate Blog 1/20/19
It’s been a wild week for the weather in the Lake Tahoe basin. Several snowstorms ripped through the area depositing many feet of snow at the highest elevations. At Lake level we experienced mostly snow with a little bit of rain thrown in occasionally. Activity on the Incline Village real estate market slowed down a little bit. This is to be expected when we get huge storms and road conditions are not conducive to travel.
Even with Mother Nature unleashing her fury it was still a decent week for Incline Village real estate sales. Four properties went into escrow ranging in price from $454,500 up to nearly $5.5 million. There were 5 closed escrows to go along with 4 new listings and 3 price changes. Inventory levels remain extremely low and we anticipate it will stay that way until springtime. If you are thinking of selling in 2019 you might want to consider putting your property on the market early in the year. With so little competition you will likely get a lot of showings and be in a better bargaining position than later in the year.
Condo buyers looking for a nice low elevation property will want to check out 875 Southwood Blvd. – #2 L’Ermitage. This two-story townhouse style condo features 3 bedrooms, 2.5 baths and 1600 ft.² of living space. You also get a one car detached garage. Nice spacious rooms and a good size great room make this a wonderful place to entertain family and friends. The property has been partially updated and is being offered unfurnished at $699,000. Click Here to See a Virtual Tour
So far the federal government shutdown has not seemed to have an impact on Incline Village real estate sales. Residential lenders have not been affected as both Fannie Mae and Freddie Mac are not impacted by the shutdown. The bigger issue on the horizon is the level of uncertainty surrounding federal government operations along with the issues involving international trade and tariffs. Hopefully all of these matters will be resolved in the near future and we can look forward to another good year for the Lake Tahoe real estate market.
Don on top of Mt. Baldy above Incline Village