Market Update: Incline Village & Crystal Bay Real Estate Thrives Despite the Early Winter Chill
As I sit down to write this update, the skies above Incline Village have been adorned with snow flurries, and for the first time this season, those familiar white flakes are starting to stick to the ground. It feels like the shortest fall I've experienced in my 14 years in Incline Village. Thankfully, I switched to my snow tires just last week, allowing me to navigate the snow-covered roads while showing homes. If you haven't already secured your snow removal contracts, now is the ideal time to do so. It's worth noting that snow removal costs have increased by approximately 30%. Many plow companies may have suffered losses last winter if they opted for full-season contracts rather than per-time arrangements.
In the realm of real estate, our local market continues to exude a robust pattern of activity. The past week brought us 7 new listings, 6 price reductions, 5 contingent listings, and 7 successful sales.
There are several notable properties on the market that have caught my eye. For instance, 120 Vue Ct stands out as an incredible find. It's situated in a quiet location, partially remodeled, and the price is set at only $1,199,900 for a single-family home at low elevation.
Additionally, 911 Driver Way is a standout new listing, adjacent to the Championship Golf Course here in Incline. This property is listed at $6,900,000, and its floor plan has been meticulously designed and well-appointed, featuring soaring high ceilings throughout the home and spacious bedrooms. It truly offers the perfect setting in a park-like environment.
In another update, 199 Tramway has undergone a price reduction to $7,745,000. This is a very rare property in Mill Creek, with a stream, bordering Nevada conservation land, and it remains one of my personal favorites in the neighborhood. It's a bit surprising that this newly built home is still available.
Overall, our home sales in Incline Village and Crystal Bay are catching up with last year's numbers. While we're coming down from the pandemic-induced boom, our figures are now more aligned with the trends from 2017 to 2019. Interestingly, while bedroom communities in many other markets around the country are facing challenges due to higher interest rates, Lake Tahoe and various resort destinations like Aspen appear to be relatively unscathed.
As we move closer to the winter season, the real estate market remains busy. Only time will tell if this trend continues at a steady pace as we approach the holiday season. For now, let's embrace the enchanting snowflakes in the air and the promise of another beautiful winter in Incline Village and Crystal Bay.
HERE ARE THE LATEST STATS FROM THE INCLINE VILLAGE & CRYSTAL BAY REAL ESTATE MARKET