Incline Village Real Estate Market Update: October 19. 2020
The beautiful autumn weather continues to attract buyers looking at Incline Village real estate. 14 properties went into escrow last week which is very strong for mid October. Toss in seven new listings, three price changes and 14 properties closing escrow to round out a busy week on the Incline Village MLS. The action was across the board last week with properties going under contract ranging from $459,000 all the way up to nearly $7.5 million.
The total number of pieces of Incline Village real estate currently for sale still hovers under 80 properties. As we’ve said before this is extraordinarily low and we see nothing on the horizon that will drive the inventory significantly higher in the next six months or so. Over the long term local businesses that can make it through the pandemic will reap the benefits of a larger year-round population at Lake Tahoe. But, the ups and downs associated with pandemic related issues and the seasonal economy have made this a challenging year for many businesses around the Lake Tahoe basin.
Condo buyers looking for a move in ready property will want to check out Sabrina’s new listing at 333 Ski Way – #277. This two-bedroom, two bath, 1224 square-foot condo features underground parking and is offered at $585,000. Here is what Sabrina has to say about the property:
“This is a great opportunity to own a lock and go, turnkey ski condo, amongst the tree tops in Incline Village. Covered parking garage with elevator access right to your floor, assigned ski locker and ample storage. Enjoy the seasons through the enclosed glass porch, looking out over greenery, trees and enjoy the alpenglow through the walls of windows. Curl up next to the wood burning fireplace and listen to the wood crackle or tackle your to-to list as you sit at the natural wood breakfast bar prior to hitting the slopes. Expanded kitchen built-ins for ample space and storage, new carpet, highest rated padding and paint, and LED lights throughout. Brand new remodeled, walk-in shower in master w/natural stones and wood-grain tile floring. Centrally located and end unit on the 2nd floor, 2 large bedrooms with 2 full bathrooms. in-unit Laundry. Entertain guests or quaint enough to enjoy all to yourself. Comprehensive HOA covers water, sewer, trash, exterior maintenance, snow removal.”
Bargain hunters looking for an entry-level property to get their foot in the door will want to check out 807 Alder Ave #73 Woodstock. This updated lower unit features one bedroom, one bathroom and 667 ft.² of living space. The central location puts you within a few blocks of just about everything in the middle of Incline Village. You’ll find the Village Shopping Center and post office nearby along with one of our favorite shops in town the Village Ski Loft. Priced at only $340,000 we say check it out before it slips away.
Don’t miss next week’s blog as it’s the last one that Don will be writing for quite a while. There will be some interesting information coming your way…
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 10/18/2020
Houses Condos PUDs
For Sale 51 16 10
Under $1 million 2 11 6
Median Price For Sale $2,799,000 $774,999 $929,500
YTD Sales 2020 212 192 65
YTD Sales 2019 136 136 45
New Listings 7
In Escrow 14
Closed Escrow 14
Range in Escrow $459,000 - $7,495,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of October 18, 2020