Incline Village Real Estate Blog
Sales of Incline Village real estate were unbelievably strong last week. 18 properties went into escrow ranging in price from $429,000 up to nearly $10 million for a lakefront in Crystal Bay. While sales of freestanding condos are almost identical to last year, unit sales of houses and condos are down about 25%. This was originally attributed to a very lengthy and stormy winter season. Whether overall unit sales will catch up to 2018 (which was an exceptionally big year) remains to be seen. But if we have a few more weeks of 18 properties going into escrow we could potentially exceed 400 unit sales for the year. New Listings Price Changes In Escrow Closed Escrow
There were a total of 9 new listings, 15 price changes and 6 properties closing escrow on the Incline Village real estate scene last week. Generally the price changes outnumber the new listings this time of year and that should continue as we get into autumn.
It was nice to see a couple of condos in the new development on Big Water Drive in Crystal Bay go into escrow. We think this location could turn out to be something really special. There are some recreational opportunities nearby in Crystal Bay that most of the general public does not know about including lake access down some steps on Somers Loop. You will also find spectacular views of Lake Tahoe hiking uphill on the North side of Highway 28.
Checking out the new listings on the Incline Village real estate scene there is one low elevation condo that catches our eye. 811 Southwood Blvd. – #4 Brookstone is a charming 2 bedroom, 1.5 bath, 1144 square-foot two-story townhouse style property. Quiet, well maintained complex just a few blocks from Lakeshore Boulevard going south, and towards the center of town heading north. The asking price of only $399,000 makes this one of the more affordable 2 bedroom units below Highway 28. We recommend anyone who is interested will want to move on this condo quickly before it’s gone. Click Here to See a Virtual Tour
On a personal note, Don just returned from a backpacking trip in the extreme northern part of Yosemite and a section of the Hoover Wilderness. You can check out some of the photos on his Facebook page.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 8/25/19
Houses Condos PUDs
For Sale 123 65 17
Under $1 million 16 41 11
Median Price For Sale $1,798,000 $635,900 $724,000
YTD Sales 2019 92 99 38
YTD Sales 2018 121 122 40
New Listings 9
In Escrow 18
Closed Escrow 6
Range in Escrow $429,000 – $9,998,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of August 25, 2019