Incline Village and Crystal Bay Real Estate Market Update, 9.12.2023
Greetings, fellow Tahoe enthusiasts! As we step into September, the Lake Tahoe region continues to bless us with fantastic weather, perfect for outdoor activities like hiking, biking, paddleboarding, and even a bit of late-season wakeboarding. The town has taken on a quieter vibe, with the promise of winter and the holidays just around the corner. It's a magical time in our beloved Incline Village and Crystal Bay.
Now, let's dive into the real estate scene. Over the past week, we've seen a slight slowdown in the market, but don't let that fool you; it's still as dynamic as ever. In the past week, the real estate market has seen a slight slowdown with 6 new listings, 15 price reductions, 4 contingent listings, and 7 successful sales.
One property that's captured our attention is 981 4th Green Drive, situated right on the Championship Golf Course. This listing made quite an entrance, boasting a premium price tag that we've typically associated with new build homes and panoramic lakeview properties. Originally acquired in 2007 for $2,540,000, after spending a whopping 477 days on the market, it's now up for grabs at $7,950,000 or approximately $1,370 per square foot. This home is a marvel of architecture, although its current setting and aesthetics may be a subject of debate compared to other homes in this price range. The market's verdict will ultimately tell us its true value upon sale.
Meanwhile, 561 Fairview has a story of its own. Initially listed at a lofty $9,600,000, it finally found its match and closed escrow at $7,000,000, which equates to around $1,494 per square foot. This sale came after a total of 471 days on the market and a complete cosmetic overhaul. Interestingly, this property last changed hands in November 2020 for $4,000,000, highlighting the ever-fluctuating nature of the real estate market.
As we move deeper into September, we'll be here to keep you updated on the vibrant real estate market in Incline Village and Crystal Bay. Whether you're seeking your dream home or just curious about the latest market trends, we've got you covered. Stay tuned for more local updates, property highlights, and insider insights!
HERE ARE THE LATEST STATS FROM THE INCLINE VILLAGE & CRYSTAL BAY REAL ESTATE MARKET