Incline Village Real Estate Blog 1/27/19
We had another nice week of solid activity on the Incline Village real estate scene. Sunny skies prevailed and made it a lot easier to show property than the week before. This resulted in 6 properties going into escrow on the Incline Village MLS. With only 2 new listings, inventory levels made a slight move downward. There were also 6 price changes along with 9 places closing escrow.
Of particular note, was the astonishing level of activity in the McCloud complex. 3 condos in McCloud went into escrow in just the past week. This includes #172 which is a 3 bedroom unit offered at $840,000. McCloud has always been a popular development due to its proximity to the Lake. These properties have also performed well as vacation rentals over the years. There are only 2 McCloud condos currently for sale as inventory levels remain low in all property categories.
Speaking of inventory levels, as of this writing there are 132 houses, condos and freestanding condos for sale on the Incline Village real estate market (per the MLS). That is extraordinarily low even by historical standards. The lowest condo inventory this author remembers was when there were only 33 units for sale at the peak of the pre-recession real estate boom. As of today, there are only 38 condos listed for sale on the Incline Village MLS. The median asking price is $640,000 which ironically is not far from where the 2 bedroom McCloud condos have been selling lately.
Checking out the new listings, lakeview lovers will want to explore the panoramic Lakeview home at 360 Gonowabie Rd in Crystal Bay. This 4 bedroom, 4 bath 2260 square-foot property has been extensively remodeled. Enjoy beautiful sunsets and gorgeous Lakeviews from multiple decks. Offered at $1,698,000.
If you are coming up to look at Incline Village real estate (or properties anywhere at Lake Tahoe for that matter) the roads for the most part are clear and dry this week. However, icy spots can linger in shady areas this time of year so please exercise caution especially around curves.