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  • Writer's pictureInside Incline

Incline Village Market Update 11.1.2022

It’s another beautiful autumn week for Lake Tahoe and the Incline Village real estate market. While the mornings are rather chilly, we’ve been having abundant sunshine which has made for very pleasant afternoons lately. Everywhere you go you can see squirrels and chipmunks gathering up food to stash away for wintertime.

Our friendly bears are in search of food as they try to gain some weight before the onset of winter and hibernation season. This means residents and visitors alike need to be extra cautious when it comes to food storage and trash disposal. Please do not store trash in your garage. Bears have an incredible sense of smell and every year numerous garages are broken into or damaged while the ursine population searches for food. Over the years we have learned that putting food waste in a plastic bag and stuffing it in the freezer until trash day is a simple solution to avoid unwanted intruders.

Listing and sales activity has slowed down quite a bit recently on the Incline Village real estate scene. There were only 4 new listings, 8 price reductions, 2 properties going into escrow and 3 places closing escrow on the Incline Village MLS last week. Condo sales were down sharply in the month of October compared to one year ago. Only 7 condos changed hands to new owners as of October 30 compared to 19 condo sales for the same timeframe in 2021. Year to date there have been 114 sales of condos versus 178 sales last year.

Our top pick this week is not a new listing but a price reduction for the condo located at 929 Northwood Blvd. – #129 Third Creek. This 3 bedroom, 3 bath, 1787 square-foot end unit is situated in a very nice location near the creek on the gated side of the complex. The property features one of the most desirable floor plans in the complex with a bedroom, bathroom, living, kitchen and dining areas on the entry-level. Upstairs you will find 2 master suites. The one car attached garage is a nice feature especially when the snow flies.

The new asking price of $1,675,000 is a reduction of $225,000 from the original offering number of $1.9 million. Based on the dollars per square foot for recent sales in the 3rd Creek complex the new asking price should be very attractive to buyers of Incline Village real estate. 3rd Creek is one of our favorite condo complexes because it has a great location in the center of town and excellent amenities! These amenities include a swimming pool, outdoor spa, tennis court, clubhouse with gym, men’s and ladies’ locker rooms and separate saunas. The beautiful landscaping and well-maintained grounds make this complex a most enjoyable place to live at Lake Tahoe.

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