Incline Village Real Estate Market Update, May 17. 2023
It’s a beautiful and sunny spring week for Lake Tahoe and the Incline Village/Crystal Bay real estate market has picked up steam and you can feel summer/tourist season fast approaching. Everywhere you look, there are bags of pine needles lining the streets, the sound of leaf blowers in your ears and colorful deck furniture pieces popping up like wildflowers in preparation for the season ahead. This week the local real estate market saw 11 New Listings, 4 Pending and 3 closed sales and prices remain relatively steady from where we ended the season in 2023.
1108 Lakeshore came back on the market after taking the winter season off. This property, designed by Faulkner Architects is mid-construction and is listed as a half baked home, ready for a Buyer to complete the build with finished concrete walls and foundations exposed. If you’re looking to build your dream home on Lakeshore Blvd., this is a great opportunity. This creek-side property offers tremendous privacy and borders two Nevada States and US Forest service lots adding to the seclusion and feel of a larger lot.
806 Geraldine, listed at $598/SF is a great buy if you have extended family and/or are looking for a larger home at a great price. This home is moderately remodeled but turnkey finished if you don’t want to perform any upgrades. It has multiple living areas on separate floors and is bordered by US Forest service lots on 2 sides.
I would be remised if I did not point out my newest listing at 501 Lakeshore Blvd., Unit # 38 Lakeshore Terrace. This streamside 3-bedroom, 3-bathroom lakefront condo is all you need to enjoy long summer days on the lake. It’s rare to find a fully remodeled lakefront condo with a deeded buoy, an oversized 2-car garage, and a complex that has a deep water pier, a usable clubhouse, and allows short-term rentals.
Sales are still down this spring compared to a year ago however, I’m optimistic if we keep seeing new listings hit the market, our 2023 numbers will catch up. We continue to have significant buyer demand, rumor has it, 806 Geraldine had 11 showings in the first 24 hours of hitting the MLS.
Luxury Properties at $5M or above continue to go into escrow and we are seeing more options for estate buyers as we get closer to summer.
HERE ARE THE LATEST STATS FROM THE INCLINE VILLAGE REAL ESTATE MARKET