Incline Village Real Estate Market Update, June 6. 2023
The recent weekend graced us with ideal weather conditions—crystal clear skies, pleasant warmth—and a bustling real estate market, signaling the arrival of summer. The atmosphere is abuzz with excitement as the Incline Library hosts its weekly farmer's market every Thursday, and Music on the Beach on Friday captivates locals and visitors alike. Whether people were soaking up the sun at the beach or enjoying a leisurely boat ride, it seemed that real estate was on everyone's mind, evident from the significant increase in property viewings across various price ranges. As graduation ceremonies take place in the coming weeks and summer tourists begin to flock to the area, the real estate market is poised to gather even more momentum.
A new listing 930 Fairway Park Drive, Unit # 22 Cedarcrest is the best buy in town right now if you’re looking for a free-standing unit, 3 bedrooms, 2 bathrooms, single-level living, and a 2 car garage under $1M. I’ve always loved this complex. It’s low elevation, tucked into the championship golf course neighborhood, near The Chateau and half of this complex sits on the green. These units have an “A-Frame” feel with beamed ceilings throughout. This unit is partially remodeled, and the HOA fees are $575/month. The HOA coverage is comprehensive including water, sewer, trash fees, structural insurance, common area insurance, snow removal, and landscaping. Buyers are not shying away from higher-priced properties so far. We saw two properties in the $5M+ range go into escrow and a new build at 955 Driver Way closed escrow at $9,200,000.
As I gaze upon the majestic beauty of Lake Tahoe, I can't help but notice the ever-increasing water levels that seem to fill it with each passing glance. Additionally, the mountains are still adorned with lingering snow waiting to melt. While this means that our beloved beaches might experience some shrinkage in the upcoming summer months, it also indicates that the lake's waters will be refreshingly cool this year, even chillier than the previous season. On a positive note, we can take solace in the fact that we're placing our bets on a relatively mild fire season or, better yet, the possibility of no fires at all in the Tahoe basin this year. With these natural blessings on our side, the stage is set for a truly remarkable summer at Lake Tahoe.
HERE ARE THE LATEST STATS FROM THE INCLINE VILLAGE &
CRYSTAL BAY REAL ESTATE MARKET