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Incline Village Real Estate Update 2/24/19

It’s that time of year when the Incline Village real estate market takes an occasional breather.  There were just 2 new listings, one price change, 4 properties going into escrow and 6 places closing escrow during the past week.  We are continuing to see good activity in the luxury home market as evidenced by the number of transactions in excess of $2 million.  A beautiful home of just under 9,000 sq. ft. on Estates Drive recently closed escrow at $4.7 million.

The stock market has rebounded dramatically in the past 8 weeks.  This helps provide confidence for buyers of all stripes.  As a result, we anticipate that Incline Village real estate sales will remain strong in the foreseeable future.  One of our bellwether indicators is the McCloud condo complex.  Prices there have exceeded the old peak that was achieved prior to the Great Recession and continue to creep higher.

New Listings Price Changes In Escrow Closed Escrow

Regular readers of this column will remember that in last week’s article we talked about a bargain priced condo at 870 Southwood.  That property went into escrow but there is another cute condo just listed at 807 Alder Ave. – #79 Woodstock that is worth a look.  This is an updated one bedroom, one bath, 667 square-foot place right in the heart of town.  You are close to all of the shops, restaurants, post office and you can walk down to the beach in about 15 minutes.

Enjoy the cozy pellet stove along with one level living that comes with a remodeled bathroom, nice kitchen and new flooring.  The HOA dues are only $300 a month which is very reasonable by Incline Village real estate standards.  This charming condo is offered at only $267,000.

Skiers and snowboarders are delighted to see a much better snowpack than we had before Christmas.  All of the great terrain at the Lake Tahoe ski resorts is open and it looks like ski season will continue well into the spring, if not summer.  Another round of storms is on the way which will freshen up the slopes even more.

Please be extremely careful when driving around the Lake Tahoe basin this winter.  The sun is still at a relatively low angle and many roads are in shadow a good portion of the day.  You’ll need to watch out for icy spots and be especially cautious early in the morning and near sunset.

Weekly Real Estate Update

Statistics gathered from the Incline Village MLS on 2/24/19

Houses                Condos                     PUDs

For Sale                                         81                          33                          14

Under $1 million                           14                          24                          10

Median Price For Sale          $1,995,000            $640,000                  $648,000

YTD Sales 2019                           13                           20                           4

YTD Sales 2018                           15                           15                           6

New Listings                                 4         

In Escrow                                      7

Closed Escrow                              3

Range in Escrow        $460,000 – $4,695,000

These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of February 24, 2019

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