Incline Village Real Estate Market Update: September 28. 2020
Although fires continue to rage throughout the West the Incline Village real estate market is still moving along at a steady pace. There have been some clear days in the Lake Tahoe basin but when the wind shifts we have been seeing smoke return from time to time. Many people are already doing their snow dance and praying for an early winter to help put out the fires.
This week’s Incline Village real estate update brings us 11 new listings, 9 price changes, 14 properties going into escrow 24 properties closing escrow. We are getting pretty close to the sales totals for all of 2019 and there are still three months ago. That’s a complete turnaround from how things started out in the 1st quarter this year.
Prices have been in a fairly steady uptrend since January 2012. But how much longer do they have to run? With the inventory being at historical lows combined with strong demand one would think the move upward would continue. That’s probably going to be true for residential property in the Lake Tahoe basin. But maybe not so for commercial properties here if small businesses continue to fail due to the pandemic.
Checking out the new listings on the Incline Village MLS we come across 949 Harold Dr. - #9 Montclair Villas as a delightful place to consider. Offered at $675,000 this freestanding condo features three bedrooms, 2.5 baths and 1440 square feet of living space. Inside you’ll find a nicely remodeled property that includes quartz countertops, new cabinets, wood burning fireplace and other upgrades too numerous to mention. Great location across the street from the Championship Golf Course.
The first half of October is generally a great time to come up to the Sierras and enjoy the changing colors. The Aspen trees might be turning a little bit earlier than usual due to the lack of snow and rain during the past year. One of our favorite hikes goes down the canyon past Incline Lake following the trail along Third Creek. If you know the right trail it will bring you to a couple of lovely Aspen groves and beaver ponds. This is a fairly easy hike on a relatively lightly used trail that can be done in about 2.5 hours without rushing.
Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 9/27/2020
Houses Condos PUDs
For Sale 58 18 9
Under $1 million 4 15 6
Median Price For Sale $2,395,000 $649,000 $929,500
YTD Sales 2020 183 169 59
YTD Sales 2019 123 125 45
New Listings 11
In Escrow 14
Closed Escrow 24
Range in Escrow $445,000 - $6,200,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of September 27, 2020