It was another very active week for the Incline Village real estate scene. The Incline Village MLS brings us 19 new listings, 13 price reductions, 8 properties going into escrow and just 3 places closing escrow. The ratio of new listings plus price reductions relative to properties going under contract indicates that we are likely at the beginning of a shift away from the seller’s market that has dominated things the past couple of years.
It was still a solid week with 8 properties getting accepted offers. But anecdotal evidence in conversations with other agents leads us to believe that a significant percentage of buyers are starting to write offers below the asking price. Whether these offers are coming in 5% below or 25% under the sticker depends on the perception of the buyer for any particular property.
Checking out the new listings on the Incline Village real estate market our top pick this week is 198 Country Club Dr. – #25. We generally see very little activity in this extremely desirable complex of freestanding condos. That is primarily because owners tend to hang onto them for a very long period of time. However, with prices exceeding $1000 per square foot in this development a number of longtime owners have decided to cash out in the past year.
This particular property features a great location backing up to open space. Inside you will find 3 bedrooms, 2.5 baths and a little bit over 2100 ft.² of living space. There are a few things that make properties in this development so popular. First of all you have the great location close to the beaches, Country Club Mall and the Hyatt Hotel and Casino. Next is the great floor plan with 2 guest bedrooms and a full bath downstairs. Upstairs you will find a spacious great room that is wonderful for entertaining family and friends.
The kitchen has been remodeled and features a walk-in pantry. The large master suite is upstairs on the living level. With a lovely southern exposure, you’ll enjoy abundant sunshine. And the deck is situated looking out over the open space which is not always the case in this complex. Offered at $2,539,000 we say check it out before it gets away. Click Here to See a Virtual Tour.
Regular readers of this blog know that many of the new listings we write about get snapped up very quickly. That was certainly the case for the property we showcased in last week’s blog at 335 Ski Way – #353 Burgundy Hill. Buyers of Incline Village real estate know that the choicest properties in the best locations will always be in demand unless there is an implosion like the nation experienced during the financial collapse 14 years ago.