Incline Village Real Estate: August 24 Market Update
For the first time this year those of us connected to the Incline Village real estate market have seen smoke from wildfires return to the Lake Tahoe basin. Fortunately, the first half of the summer was absolutely gorgeous. Our thoughts go out to all of the firefighters, smoke jumpers and support people who are battling blazes across the western United States.
It was another big week for the Incline Village real estate scene. 19 properties went into escrow and 20 properties closed escrow. With only 11 new listings the inventory has now declined to only 77 residential properties for sale on the Incline Village MLS. There were 11 new listings last week including a stunning lakefront estate priced at $44 million.
There is one very special new listing on the Incline Village real estate update for this week. 556 Lucille Dr. is a very nicely remodeled three bedroom, two bath, 1664 square-foot home on a good-sized lot of just over 4/10 of one. The tastefully redone interior features high quality materials including slab granite counters, stainless steel appliances and a host of other upgrades too numerous to mention. Nice location in a quiet residential neighborhood not far from the center of town. Easy access to the Mount Rose Highway. Offered at $1,249,000
At the present time there are only two single-family homes in Incline Village and Crystal Bay priced under $1 million. We knew it was only a matter of time before single-family homes under $1 million went the way of the dinosaur. While that might not happen in 2020 that day of reckoning is getting closer.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 8/23/2020
Houses Condos PUDs
For Sale 54 20 3
Under $1 million 2 11 1
Median Price For Sale $3,360,000 $925,000 $1,198,000
YTD Sales 2020 139 131 43
YTD Sales 2019 93 100 39
New Listings 11
In Escrow 19
Closed Escrow 20
Range in Escrow $549,000 - $7,480,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of August 23, 2020