Incline Village Real Estate Blog 11/11/18
With the stock market volatility continuing to headline the news almost every day, the Incline Village real estate market is a relative oasis of stability in an ever-changing world. Sales continued along at a nice pace with 8 properties going into escrow and 7 places closing escrow on the Incline Village MLS last week.
Surprisingly there were 10 new listings which is a very large number for this time of year. It’s possible that some sellers are sensing that prices will not rise much further in the near future. As a result, property owners who have seen a significant increase in the value of their place the past several years might consider this a good time to cash out.
The median price of a single-family home in Incline Village and Crystal Bay has jumped to a new historical high above $1.4 million in 2018. While the median price is not necessarily an indication of overall price trends, it does tell us that buyers are willing to spend good sums of money to get their dream home at Lake Tahoe.
But even with higher prices in all market sectors, bargain hunters can still find good values if they are patient. Budget conscious buyers looking for a 3 bedroom property in a nice woodsy setting will want to check out 745 Crosby Court – #91 Incline Crest. This charming mountain cabin features 3 bedrooms, 2 full baths and 1120 ft.² of living space. Upgrades include slab granite counters in the kitchen, stainless steel appliances, new windows and custom cabinets with soft closing drawers. The asking price for this cozy little piece of Incline Village real estate is $470,000.
If a two-car garage is on your wish list but you don’t want to spend $1 million, then the single-family home at 999 Dorcey Dr. may be to your liking. Offered at $725,000 this is a 3 bedroom, 2 bath, nearly 1400 square-foot house in a lovely forest setting. Situated on just over 1/4 acre this mountain style home oozes with Tahoe charm. While this home is situated at a relatively high elevation, it does put you in close proximity to some hiking trails that provide quick access up to the ridgeline and the TRT.
Buyers of Incline Village real estate will want to keep a close eye on the market during the next several weeks. This is the time of year when we frequently see significant price reductions for properties that have been sitting on the market for several months. Sometimes sellers throw in the towel as we get closer to the holiday season. The best deals tend to get snapped up quickly so it helps to remain vigilant in your property search.
On this Veterans Day we would like to offer our sincere thanks to all the men and women who have served our country throughout history. Regardless of political affiliation, we can all stand united in the support of those who risk their lives to ensure our freedom and sovereignty.