As the summer days begin to fade and we prepare for the cooler months ahead, I'm reminded of just how essential it is to prioritize fun in our lives. Fun isn’t just a break from the grind—it’s a powerful way to recharge and keep our minds and bodies balanced. Whether it's enjoying a lakeside barbecue or hiking in the Tahoe mountains, taking time to relax and play helps release those feel-good endorphins we all need. And let’s not forget the connections we build during these moments—some of the best memories are made when we’re laughing and enjoying life with the people we love most.
So the next time you’re tempted to skip out on some downtime, remember that fun is just as important as any other part of your wellness routine. It's not merely a luxury but a key ingredient to a happy and healthy life.
Real Estate Market Update
Turning our focus to the real estate market, things are still heating up despite the season winding down. Price decreases continue to pop up across the board, keeping buyers on their toes. Here's a snapshot of what’s happening in Incline Village and Crystal Bay.
The real estate market remains active, with a steady influx of price decreases. In Incline Village and Crystal Bay, we observed an uptick of luxury listings hit the market with 9 new listings, 9 pending sales, 25 price adjustments, and 8 successful closings.
Notably, two McCloud units closed at quite different price points. The first, an updated 2-bedroom, 2-bath upper unit, sold for $975,000. Meanwhile, a remodeled lower unit with the same layout and a prime setting closed for $1,285,000. Both sales were cash deals, as McCloud continues to face challenges with insurance issues and assessments.
On the other side of town, Mountain Shadows properties keep hitting the market at increasingly lower price points. Just this week, a 3-bedroom, 2.5-bath unit was listed for $589,500. Like McCloud, Mountain Shadows is battling significant insurance woes, hefty assessments, and rising monthly dues. These pressures are continuing to push prices down, and unfortunately, it looks like these issues may persist for the foreseeable future.
And for those who have been holding out for something special, a rare two-bedroom end unit in Crystal Towers just hit the market. This unique property comes with access to a private HOA pier, a deeded buoy, a lakefront heated pool, and assigned covered parking. The 10-unit building is gated with an elevator that takes you right to your door, making it both luxurious and convenient. Floor-to-ceiling windows capture breathtaking views of the lake, mountains, and those iconic Tahoe sunsets.
As we move through the remainder of August, let’s continue to make time for fun while keeping an eye on the ever-changing real estate landscape. Here's to embracing the last stretch of summer and all the possibilities ahead!
Real estate statistics for Incline Village & Crystal Bay - 08/15/2024
House | Condos | PUDs | |
For Sale | 83 | 78 | 16 |
Under $1 million | 0 | 45 | 5 |
Median Price For Sale | 67 | 56 | 13 |
YTD Sales 2024 | 67 | 56 | 13 |
YTD Sales 2023 | 42 | 51 | 16 |
YTD Sales 2022 | 77 | 80 | 16 |
New Listings | 9 | ||
Price Reductions | 25 | ||
In Escrow | 9 | ||
Closed Escrow | 8 | ||
Range in Escrow | $759,000 - $3,699,000 |
Please keep in mind that these numbers are based on data from the Incline Village Board of REALTORS® or its Multiple Listing Service as of 8/15/2024.
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