Incline Village Real Estate Market Update: September 14. 2020
Looking through the smoke we see another big week for the Incline Village Real Estate market. 24 properties went into escrow along with 16 new listings and 18 closed transactions on the Incline Village MLS. The inventory is still very low with only 77 pieces of Incline Village real estate currently listed for sale.
Normally we don’t see a lot of new listings each week this time of year. However, the pandemic created an unusual situation where many property owners decided to use their house or condo during the warm summer months. Now that Labor Day has passed us by some of these property owners are interested in selling.
It’s important for sellers to realize that the vast majority of buyers at Lake Tahoe have engaged in multiple real estate transactions and are not amateurs. We are seeing many sellers reach for the stars with the initial pricing of their properties. However, reality often sets in fairly quickly when a property is radically overpriced.
Condo shoppers looking for a place that is close to the beach will want to check out 136 Juanita Drive #39 Forest Pines. This is a rare four bedroom, two bath, 1500+ square-foot two-story townhouse style condo. Offered partially furnished at the asking price of $769,000. The complex features a clubhouse, swimming pool and spa. Forest Pines condos have generally made great vacation rentals over the years. But this is also a reminder for everyone who is thinking of doing vacation rentals to make sure that the HOA you are considering still allows them.
For those of you who would like to take a vacation are away from the wildfires and smoke consider a trip to southern Utah. All of the national parks are open and autumn is a great time to visit the red rock scenery and canyon country. If you are thinking of going to Arches or Canyonlands National Parks consider staying at the Condo in Moab. This very nicely furnished three bedroom, 2.5 bath, 1500+ square foot two-story townhouse style condo sleeps six. Great location just south of the center of town with beautiful views from every room.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 9/13/2020
Houses Condos PUDs
For Sale 53 20 4
Under $1 million 4 17 3
Median Price For Sale $2,375,000 $650,000 $699,000
YTD Sales 2020 159 157 51
YTD Sales 2019 114 114 43
New Listings 16
In Escrow 24
Closed Escrow 18
Range in Escrow $499,999 - $4,195,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of September 13, 2020