Mother Nature is trying to tell us that winter is around the corner. But the Incline Village real estate market still thinks it’s summer with 14 properties going into escrow last week. We’re finally starting to see a slowdown with new listings. Just 6 places came on the Incline Village MLS, along with 5 price reductions and 4 properties closing escrow. The total number of properties for sale is around 190 which represents less than a 6 month supply.
However, just looking at the overall inventory number doesn’t really tell us the state of the market. We only have about a 3 month supply of condos currently listed for sale. Condo activity has been exceptionally strong all year. Prices have moved up significantly in almost every complex. But we are still at least 10 to 15% below the peak achieved prior to the Great Recession.
There are a couple of intriguing new listings on the Incline Village real estate scene. Condo shoppers on a budget will want to check out 861 Southwood Blvd. – #1 High Sierra. According to one of my local sources this was the developer’s unit in the complex. So it has a real staircase with a normal ceiling taking you down to the attached one car garage. Inside you’ll find 3 bedrooms, 2.5 baths and 1368 ft.² of living space. The unit has been partially remodeled and gets really good sunlight since it faces West and South. The asking price is $385,000.
Low elevation home buyers have something nice to look at. The single-family home at 559 Silvertip sits on a large lot of over 4/10 of an acre. U S Forest Service land to the Southeast protects you against any future development in that direction. The level entry brings you into a large great room and spacious kitchen. There is even a little bit of a mountain view. Downstairs you’ll find 3 bedrooms and 2 full baths. The master has been nicely remodeled! Under the house is a huge storage area which could be developed into a 3rd full floor. Nearly level backyard makes a great space for kids to play. And you get a spacious three-car attached garage. Offered at $1,425,000.
It looks like we might have a couple of stormy days in the middle of the week. So far we don’t have any snow on the ground below 8000 feet so it’s easy to drive around the Lake. The ski resorts are slowly ramping up with limited operations at Mt. Rose. That could change later in the week if we get some significant accumulations and the resorts keep blowing snow.
The weekend before Thanksgiving could be a great time to come up to look at Incline Village real estate. The weather should be nice and it won’t be crowded. If you are traveling to the Sierras over the upcoming Thanksgiving holiday please make sure that you are fully prepared for winter conditions when driving over the passes. This means having extra food water and warm clothing in your car. You never know when the highways might be temporarily shut due to storms or accidents. So, it is always best to be prepared for unexpected delays when when we experience wintertime conditions in the mountains.