It was a beautiful week to be checking out the Incline Village real estate market. Lake Tahoe is enjoying mostly sunny skies with the occasional passing thunder shower. Daytime temperatures are very pleasant not scorching like a couple of weeks ago. Smoke from the fires in the Sierras has not been encroaching. So, this is as good as it gets as we move into the 2nd week of August.
There was a reasonably good amount of action on the Incline Village real estate scene last week. The Incline Village MLS brings us 9 new listings, 16 price reductions, 7 properties going into escrow and 5 places closing escrow. Buyer activity continues relatively strong. But it’s not the feeding frenzy of the past 2.5 years.
Nationwide, summer vacation rentals are a tad bit slower than the past 2 years. Many affluent people who traveled domestically in 2020 and 2021 are going overseas this summer. The increased prices for gasoline and lodging have lured many middle income citizens into taking a staycation. It’s nice to see the price of petrol at the pump dropping the past several weeks. But it’s still far higher than it should be thanks to the market manipulation earlier this year by the oil companies and professional traders. If there really was a shortage of oil and gasoline at the pump you would be seeing long lines of cars like in the 1970s during the 1st OPEC oil shock. But I digress…
There is one very intriguing new Lakefront condo for sale that we want to focus on. This piece of Incline Village real estate has a spectacular panoramic Lakeview. It’s definitely worth checking out 525 Lakeshore – #48 Crystal Shores West. The asking price of $3.3 million works out to nearly $2000 per square foot for this 1700 ft.² property.
Inside you will find 3 bedrooms and 3 full baths. 1 of the bedrooms is an interior bunk room which is a great place for kids to hang out and make all the noise they want. The view of Lake Tahoe from the condo is truly stunning. And the location is fabulous just a stone’s throw from the marina and private beach. Nice interior that is getting some finishing touches. Absolutely worth a look if you have been waiting for a Lakefront condo with a truly awesome view! If you'd like to schedule a tour, just reach out and we will make it happen.