Incline Village Real Estate Blog 11/4/18
The Incline Village real estate market took a little bit of a breather last week. Whether it’s the upcoming election or stock market volatility, buyers pulled back to a more seasonal norm. We saw 5 properties going into escrow on the Incline Village MLS. Title companies were busy handling 13 closings and there were 8 new listings to go along with 8 price changes.
It’s somewhat surprising to see 8 new listings at this time of year along with a handful of properties coming back on the market with either a new listing agent or some other change. November is a time when we generally see no more than a few new listings each week and more properties being withdrawn or allowed to expire. With 8 listings expiring from the Incline Village real estate scene that pretty much offsets the new listing inventory. The inventory of condos is down by 50% vs. the same time just 3 years ago. Pickings are slim and condos in good locations at reasonable prices are getting snapped up fairly quickly.
Speaking of condos, there are 2 new listings on the Incline Village real estate scene that are worth checking out. #231 McCloud is located on the Incline Way side of the complex just a short hop down the street to the Recreation Center. This two-bedroom, 2 bath, 1111 square-foot upper unit looks to be mostly original and is offered at $585,000. You also get a one car detached garage along with a nice low elevation location just a few minutes from the beach.
If you have a little less money to spend and would like to have both of vacation getaway and get some rental income then consider 120 Country Club Dr. – #14. This is a mixed-use development where the lower unit is a commercial space and the upper unit a two-bedroom, one bath condo for residential purposes. There is currently a tenant in the upper unit paying $1500 per month rent with a lease that runs until May 2019. You’ll need to give at least 24 hours advance notice to check out the upper part of the condo. Some folks like to rent out the commercial space below and keep the upper unit as their Tahoe getaway. Super location across the street from the Hyatt and just 2 blocks from the beach. The asking price for this low elevation gem is $529,000.
Anyone shopping for Incline Village real estate might want to make a trip up during the coming week. The weather is absolutely fantastic with daytime temperatures in the high 50s to low 60s along with abundant sunshine. You won’t find any crowds, so dining out is really a pleasure this time of year. Come up and enjoy the beautiful weather before the snow flies!