Incline Village Real Estate Blog 1/8/19
With 2018 in the rearview mirror it’s time to turn our attention to the year ahead for the Incline Village real estate market. Inventory levels are extremely low with around 150 houses, condos and freestanding condos currently for sale. Considering there were over 430 sales in 2018 this means we have a little bit more than a four-month supply overall. Looking deeper into the statistics, we have a roughly 6 month supply of single-family homes and less than a 3 month supply of condos.
What this means for buyers is there are not a lot of places to choose from as we begin the new year. Any new listings on the Incline Village real estate scene will be snapped up quickly if they are priced right and have good attributes. Buyers will need to be nimble in 2019 and not suffer from paralysis by analysis. Condo shoppers would be well advised to familiarize themselves with the variety of floor plans and locations within the complexes they like. That way when a property comes on the market you will have a relatively good idea as to whether or not it will be worth a trip up to Tahoe to take a look.
Speaking of new condo listings, 989 Tahoe Blvd. – #17 Racquet Club is worth taking a peek at further. This 1649 sq. ft. end unit is situated in one of the best locations in the entire complex. It’s located next to a year-round creek and overlooks a nice big chunk of open space. This three-bedroom, 2 bath, townhouse style property boasts the largest floor plan in the Racquet Club. According to the listing agent the seller has already found another property and would like to make a deal for this unit. It’s getting more difficult to find a low elevation property with 3 bedrooms in this price range. Offered at $429,000.
Overall the Incline Village real estate market is off to a good start for 2019. During the 1st week there were 9 new listings, 5 price adjustments, 5 properties went into escrow and 7 places closed escrow. While the closed escrows are transactions that went under contract in 2018, seeing 5 properties go into escrow during the dead of winter is a nice sign.
We anticipate that ski conditions will improve dramatically this week. In the past couple of days all of the Lake Tahoe ski resorts got anywhere from 1.5 to 3 feet of new snow. There are at least one or 2 more storms coming in so be prepared for winter driving conditions if you are coming up to Tahoe this week. Check the highway conditions before you start out especially since there have already been closures on Interstate 80 from time to time due to intense periods of storminess.
On a personal note, Don’s condo in Moab had an excellent 1st year as a vacation rental in 2018. The property is already booked up for much of the prime time in April and May. If you are thinking of visiting Arches and Canyonlands National Parks, this three-bedroom, 2.5 bath, nearly 1600 square-foot condo with an oversized two-car garage makes a great home base. Click Here to See the Condo in Moab