We would like to begin this week’s blog entry by apologizing to our readers. During the past couple of months we have been working on a rebuild of the InsideIncline.com website. Unfortunately, the website developer did not follow our instructions and prematurely published the new version before it was completely ready.
We understand this has caused some angst amongst our readers who have not been able to enjoy the weekly blog postings. So, we have reverted back to the old website format for the time being. If you ever notice a week without a blog post or encounter any difficulties with our site please let us know immediately. It’s our mission to provide regular updates and current information on the Incline Village real estate market at least once a week and more frequently if possible.
Some recent precipitation has helped to improve ski conditions at Lake Tahoe. But the Incline Village real estate scene can’t get much better than the start we’ve had in 2018. 14 properties went into escrow last week which is a staggering number this time of year. However, it’s just keeping pace with a winter season that has seen extraordinarily strong sales on the Nevada side of North Lake Tahoe.
Every sector of the Incline Village real estate market got in on the action last week. The properties getting accepted offers ranged in price from $259,000 all the way up to nearly $3.7 million. Normally we would expect condos to dominate weekly sales this time of year. But exactly half of the properties going into escrow were single-family homes. We surmise the lack of snow on the ground makes it much easier for buyers to fully evaluate the properties they are purchasing.
The Incline Village MLS also brings us 8 new listings, 4 price changes and 9 properties going into escrow. We are starting to see some sellers push price points a bit higher than we would anticipate. But with such a strong market you can hardly blame anyone who is reaching for the stars. The incredibly strong economy in northern California is helping to propel Incline Village real estate prices closer to the prerecession peak. But we’re not there yet which means there is likely room to run in the foreseeable future.
There is one new listing that catches our eye and merits a closer look. The very nicely remodeled home at 524 Spencer Way features 4 bedrooms, 3 full bathrooms and nearly 2200 ft.² of living space. The spacious great room is perfect for entertaining family and friends in a lovely woodsy setting. You’ll find filtered lake views and nice views of the mountains while enjoying this .461 acre lot in the Ponderosa subdivision. The property also has a very good vacation rental history. We think the asking price of $998,000 will likely attract a significant amount of attention.