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  • Writer's pictureSabrina Belleci

Memorial Day Weekend Kickoff: Lake Tahoe Real Estate Update May 20th, 2024



As we look forward to the annual Memorial Day Weekend here in Lake Tahoe, it's clear that summer is just around the corner. This weekend traditionally marks the start of the season, and the signs are all around us: chickadees chirping, the warm sun rising over the East Shore, and the fresh scent of pine trees in the air. Early morning walks along Lakeshore reveal bustling yard cleanups, American flags being raised, flowerpots being filled, and vibrant outdoor furniture making its appearance.


This week, the Incline Village and Crystal Bay real estate market experienced a surge in activity, reflecting a palpable increase in momentum. With 17 new listings, 3 pending sales, 2 price adjustments, and 2 successful closings, it's evident that we are in the full swing of listing season. Properties in desirable neighborhoods that are priced well are receiving multiple offers, often over the asking price, with approximately 50% of accepted offers being all-cash deals. The strong stock market is prompting many to cash out and invest in Lake Tahoe real estate.


A standout new listing already pending is 689 Mount Watson Ct. This small cul-de-sac in the Lakeview subdivision boasts views of Burnt Cedar Beach and a beautiful yard. Another notable listing, 640 Lakeshore Blvd., is back on the market with a $1,000,000 price reduction. As one of the few smaller homes remaining on Lakeshore, it is expected to sell quickly. Additionally, 165 Mayhew Cir. stands out with its beautiful architecture, well-thought-out floor plan, and secluded lot surrounded by a stream and Nevada conservation land. This may be the most private lot in Mill Creek. A "tear down" in Mill Creek has also gone under contract with multiple offers in the $2.9M range.


This week also marks the start of Music on the Beach, presented by Incline Spirits & Cigars, and I’m excited to see all your beautiful faces after a snow-filled spring. Summers in Lake Tahoe are wonderful but short, so make sure to soak up every minute of it.


If you're interested in finding out 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 05/20/2024


HERE ARE THE LATEST STATS FROM THE INCLINE VILLAGE & CRYSTAL BAY REAL ESTATE MARKET


Houses

Condos

PUDs

For Sale

5

44

8

Under $1 million

1

24

2

Median Price for Sale

$3,300,000

$752,500

$2,397,000

YTD Sales 2024

31

38

8

YTD Sales 2023

14

29

7

YTD Sales 2022

48

59

13

New Listings

17



Price Reductions

2



In Escrow

3



Closed Escrow

2



Range in Escrow

$2,800,000 - $3,850,000



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 5/20/2024.

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