Incline Village Real Estate: July 27 Market Update
Weekly Incline Village real estate updates are starting to sound like a broken record. 22 properties went into escrow during the past seven days. There were 13 new listings which means another leg downward for the inventory. Throw in seven price reductions plus 22 closed escrows and you’ve got a busy week for everyone connected to our local market.
For the first time in a while, super luxury buyers sat on the sidelines. However, there was a nice broad range of properties going into escrow. Properties getting accepted offers on the Incline Village MLS ranged from a little commercial unit offered at $175,000 all the way up to a nice single-family home priced at $2,750,000. Showing activity continues strong with summer visitors enjoying the recreational opportunities and fabulous weather at Lake Tahoe.
It’s getting more difficult these days to find a three-bedroom condo close to the beach priced under $700,000. So, we highly recommend taking a gander at 123 Juanita Dr. – #57 Forest Pines. Offered at $698,000, this three-bedroom, two bath, fully furnished, 1253 square-foot, two-story townhouse style condo has been nicely remodeled.
On the entry-level you have kitchen, living and dining areas with a fireplace and open beam Cathedral ceiling. Master Suite is on the entry-level which is a real bonus for those who don’t like stairs. Upstairs you have two bedrooms and a full bath.
This HOA features a clubhouse, swimming pool and spa. Nice location in the pine trees and just a couple of hundred yards from the beach. You are close to everything at low elevation including all the shops and restaurants.
Historically, properties in the Forest Pines complex have made great rentals. So, whether you want this as your primary residence, vacation home or an investment property, it’s worth a look before someone else grabs it. We love working with Mike (the listing agent) who knows how to price Incline Village real estate in line with market conditions.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on July 26, 2020
Houses Condos PUDs
For Sale 63 21 9
Under $1 million 7 11 3
Median Price For Sale $3.195,000 $949,000 $1,495,000
YTD Sales 2020 98 95 29
YTD Sales 2019 79 78 29
New Listings 13
In Escrow 22
Closed Escrow 22
Range in Escrow $175,000 - $2,750,000
The statistics contained herein are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of July 26, 2020