It’s been a remarkable year for the Incline Village real estate market! The inventory of houses, condos and freestanding condos available for sale continues to drop week after week. We once again hit another record low with only 70 properties currently available for sale on the Incline Village MLS.
27 properties went into escrow last week on the Incline Village real estate seen continuing the amazing level of sales activity and we have seen in 2020. Every price range got in on the action with accepted offers ranging from $528,000 all the way up to $44 million for a luxury lakefront home. Surprisingly, there were 14 new listings which is a lot for this time of year. Throw in 22 closed escrows and you can see it was another crazy busy week for the title companies
Buyers looking for a condo in a nice setting will want to check out 941 Miner’s Ridge #2. Offered at $749,000, this is a three bedroom, 2.5 bath, 1700+ square-foot condo overlooking Third Creek and the forest. This well-maintained two-story townhouse style unit has lots of natural light. The location is just far enough below the Mount Rose Highway that you won’t hear road noise but still have easy access to everything in the area. Click Here to See a Virtual Tour
We have seen a dramatic drop in the inventory of houses, condos and freestanding condos for sale on the Nevada side of North Lake Tahoe. At the present time there are only 70 residential properties for sale in Incline Village and Crystal Bay. The historical norm is closer to having somewhere between 250 and 350 or so properties for sale during this time of year.
Considering the fact that there are well over 300 real estate agents practicing in our community that means there are approximately four agents for every listing. This is rather extraordinary especially when you consider that the inventory continues to decline week after week. The ability for brokers to hold “pocket listings” has been affected by new rules and regulations. As a result when properties hit the MLS there tends to be a flurry of activity rather quickly.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 8/30/2020
Houses Condos PUDs
For Sale 47 22 1
Under $1 million 1 15 1
Median Price For Sale $3,360,000 $775,000 $849,000
YTD Sales 2020 147 139 46
YTD Sales 2019 101 106 42
New Listings 14
In Escrow 27
Closed Escrow 22
Range in Escrow $528,000 - $44,000,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of August 30, 2020