Incline Village Real Estate Blog 7/8
it was a beautiful summer week at Lake Tahoe and buyers of Incline Village real estate were out in full force. 11 properties went into escrow ranging in price from $350,000 up to nearly $2.5 million. Lower-priced properties are becoming scarcer with only 16 single-family homes currently on the market with asking prices under $1 million. Our market continues strong but at a healthy pace not the frantic activity we witnessed during the real estate boom during the first part of the 2000s.
The inventory of houses for sale on the Incline Village real estate market is just slightly below last year. However, condo inventory remains extraordinarily low with only 49 properties for sale as of this writing. We have already seen 87 condos close escrow this year which is almost identical with the total year to date in 2017. But at this time last year there were 76 condos listed for sale on the Incline Village MLS which means the comparative inventory has dropped by approximately 34%. This will keep upward pressure on prices for the remainder of this year and quite possibly longer. As long as there are no macroeconomic shocks to the system there is no reason to believe that Incline Village condo prices will be leveling off anytime soon.
There were a total of 16 new listings, 7 price changes and 8 properties closing escrow on the Incline Village real estate scene last week. Condo buyers looking for a lower elevation property will want to check out 929 Northwood Blvd. – #108 Third Creek. This two-bedroom, 2.5 bath, 1500+ square foot two-story townhouse style condo is located on the gated side of the community. Nice floor plan and you get to enjoy all of the wonderful Third Creek amenities including swimming pool, tennis court, outdoor spa, clubhouse, gym, indoor saunas and men’s and ladies locker rooms. Close proximity to shops, restaurants and everything else in the center of Incline. Offered at $678,000. Click Here to See a Virtual Tour
Don recently returned from a nice vacation in Europe where he visited London, Paris, Venice, Lake Garda, Monterosso and Chamonix among other places. The ferry system on Lake Garda in Italy is something that could easily be adapted to Lake Tahoe. While Italy is famous for great food, the ferry systems on the big lakes such as Lake Garda and Lake Como could provide a lesson for us in America when it comes to operating a seasonal ferry system on a big lake with lots of visitors.