Incline Village Real Estate News
It has been a very interesting start to 2019 for Incline Village real estate sales. Inventory levels have remained extraordinarily low while sales activity has continued along at a steady pace. While overall unit sales are approximately 25% below the same time last year this number is deceiving. We had a monstrous winter in 2018 – 19 vs. an extreme drought the year before. The numerous road closures and deep snowpack put a lid on showing activity, especially for houses.
In general, both showing and sales activity remains strong this spring across all price ranges. The single-family homes in escrow range from $600,000 all the way up to $7.5 million. With only 11 houses with asking prices under $1 million many buyers are getting priced out of the market. Condo prices continue to trend up. There are only 2 condos currently listed for sale on the Incline Village MLS with asking prices under $400,000.
New Listings Price Changes In Escrow Closed Escrow One anomaly is the extreme difference between the median sale price for the past 6 months and the median asking price of houses currently for sale. Over the past 6 months the median sale price for single-family homes was $1.25 million. But the median asking price of houses currently on the market is over $3 million. This means there is an extreme shortage of lower to moderately priced inventory in our market. If you own a property with a fair market value of $1.5 million or less that sector is still a seller’s market.
There is one new listing on the Incline Village real estate market that catches our attention. Low elevation condos in a private setting are hard to find. That makes 136 Juanita Dr – #26 Coeur du Lac a very interesting place for buyers to consider. Private woodsy setting just a couple of blocks from the beach. Makes a super vacation rental!
This three-bedroom, 2 bath condo boasts 1200 ft.² of living space in a two-story townhouse style. Master suite on the entry level along with living, kitchen and dining areas. 2 guest bedrooms and a bathroom upstairs. Offered furnished at $579,000 Click Here to See a Virtual Tour
On a personal note: Don is leaving on a six-week trip to Europe beginning May 14. During his absence Sabrina and Cole are available to assist with all of your Incline Village real estate needs.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 5/12/19
Houses Condos PUDs
For Sale 81 35 6
Under $1 million 11 28 5
Median Price For Sale $3,020,000 $579,000 $558,000
YTD Sales 2019 39 48 19
YTD Sales 2018 56 59 19
New Listings 11
In Escrow 9
Closed Escrow 8
Range in Escrow $389,000 – $2,600,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of May 12, 2019