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  • Writer's pictureSabrina Belleci

Insights from This Week's Incline Village and Crystal Bay Real Estate Activity | May 12, 2024



Mother nature showed off for Mother’s Day in Tahoe! As Mother’s Day weekend graced us with stunning weather and a rare sighting of the Aurora Borealis in Tahoe, it also marked the beginning of the summer season, setting a vibrant tone for the weeks ahead. With an eye on brighter days and warmer temperatures, we eagerly anticipate an animated month in the realms of Incline Village and Crystal Bay real estate.


This week unveiled a surge in activity within the local real estate market, reflecting a palpable increase in momentum as summer draws near. Boasting 11 new listings, 5 pending sales, 6 price adjustments, and 2 successful closings, it's evident that the market is primed for heightened sales activity.


Over the past seven days, the MLS witnessed the addition of not one but two Tahoe Racquet Club condos under the $1 million mark. Formerly regarded as secondary student and workforce housing, these units have been steadily gaining popularity in recent years for their prime location boasting low elevation, a picturesque, forested backdrop adorned with two creeks meandering through the complex, and convenient access to the recreation center, Incline Beaches, Aspen Grove, and the Hyatt.

A notable development unfolded as a home in need of rehabilitation entered escrow, nestled in the serene ambiance of the Championship Golf Course on the coveted street, 4th Green. Renowned for its sought-after location, this tranquil cul-de-sac setting, enveloped by lush pines and boasting low elevation, adds to its allure.


Amongst the sales this week, one standout was an off-market transaction in White Pines. Featuring one of the largest, if not the largest unit within the complex, this impeccably remodeled property secured a sale off-market for $1,330,000. Originally listed at $1,600,000, this property underwent a journey of on-and-off market availability for just over a year before ultimately closing escrow through a private sale.


As we reflect on a delightful Mother's Day celebration here in Tahoe, we eagerly anticipate the bustling weeks ahead as schools wind down, and our town prepares to embrace the summer season in full swing.


If you are interested in knowing what your property might be worth this summer, don’t hesitate to reach out for a consultation and free market evaluation.

Statistics gathered from the Incline Village MLS on 05/07/2024


Price Reductions

6



Closed Escrow

2



Houses

Condos

PUDs

For Sale

51

40

7

Under $1 million

1

22

2

Median Price for Sale

$3,300,000

$897,000

$2,295,000

YTD Sales 2024

31

34

8

YTD Sales 2023

14

27

7

YTD Sales 2022

48

55

13

New Listings

11



In Escrow

5


Range in Escrow

$695,000 - $3,000,000



Please keep in mind that these numbers are based on data from the Incline Village Board of REALTORS® or its Multiple Listing Service as of 5/12/2024.

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