Incline Village Real Estate Market Report: October 11th
Buyers looking at Incline Village real estate were out in full force last week. It was another strong showing with 18 properties going into escrow, along with 24 places closing escrow. Throw in 11 new listings and you get to an inventory that is still below 80 total residential properties for sale in our community.
New Listings Price Changes In Escrow Closed Escrow
The Incline Village real estate inventory has been in a constant state of decline since late spring. With more and more people choosing to work from home, lots of folks are departing the big West Coast cities for the pleasant environs of Lake Tahoe. Secondary beneficiaries are Reno, Minden, Gardnerville and other areas in northern Nevada. Historically, the Reno area has been characterized by boom and bust cycles. Just maybe this time, it won’t be a big bust because the high-tech industry is more sustainable than gambling or mining. Only time will tell…
There is one new listing on the Incline Village real estate scene that is special for both the fabulous remodeling and the price. Offered at $929,000 is a stunning three bedroom, two bath, 1512 ft.² two-story townhouse style condo at 929 Northwood Blvd. – #113 Third Creek. This is one property that has to be seen in person to truly appreciate the gorgeous and unique remodeling that makes it unlike any other condo in the complex.
You’ll find a nice big great room, slab granite counters, stainless steel appliances, professional kitchen, elegant flooring and too many other upgrades to enumerate. The office / den area is a very nice feature! - Click Here to See a Virtual Tour -
In the past few months the state of Nevada has made enough progress in the battle against the coronavirus that the Governor lifted the restriction on holding open houses (subject to some regulations) effective October 1st. If everyone follows the new rules it will be easier for buyers to view properties and make informed decisions. Below is an excerpt from the directive issued by Governor Sisolak’s office:
“The Governor announced a plan to commence all in- person showings and open houses of single family and multi-family residences currently occupied and on the market for sale, effective at 12:01 a.m. on October 1, subject to the following limitations:
1. Showings and open houses of properties may not take place with the occupant present.
2. Showings of properties are limited to one prospective buyer and one real estate professional for both the seller and prospective buyer at a time. For the purposes of this provision, “a prospective buyer” includes the buyer and the buyer’s spouse, domestic partner, business partner, or family members.
3. Sellers conducting an open house are responsible for ensuring that there will not be more than one prospective buyer viewing a property at any given time. This may require having an individual present to properly meter prospective buyers entering an open house.
4. Sellers are encouraged to utilize appointments for in-person showings and open houses to the greatest extent practicable.
5. Real estate professionals are encouraged to utilize three-dimensional interactive property scans, virtual tours, and virtual staging to the greatest extent possible.
6. Real estate professionals are encouraged to avoid in-person transactions and services to the greatest extent practicable.
7. Real estate professionals must require all participants at in-person showings and open houses to wear face coverings at all times pursuant to Directive 024 and must follow CDC guidelines for in-person showings and open houses.
Some additional guidelines recommended by the CDC and Nevada REALTORS® are as follows:
• All visitors maintain 6ft;
• Real estate professionals have available gloves and hand sanitizer for use and remind clients to not touch surfaces when viewing property as well as wipe down surfaces as frequently as possible.”
Ironically, these rules are very similar to the proposal that we made in one of our weekly columns back in the Springtime. But, that’s water under the bridge. If we all follow the new open house rules and act responsibly it will make it easier for buyers and sellers to work with their agents to safely show and sell properties.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 10/11/2020
Houses Condos PUDs
For Sale 50 17 11
Under $1 million 3 12 8
Median Price For Sale $2,984,000 $774,999 $929,500
YTD Sales 2020 204 188 64
YTD Sales 2019 132 134 45
New Listings 11
In Escrow 18
Closed Escrow 24
Range in Escrow $377,000 - $4,500,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of October 11, 2020