Real Estate Market and Community Update - July 23, 2024

The past week has seen cooler temperatures and a calmer real estate market. The holiday crowds have dispersed, local families are taking their final vacations elsewhere, and tourists are still visiting, but there's a noticeable tranquility in the air. The real estate market was quieter than expected for this time of year, possibly due to the political uncertainty as people wait to see what will happen in November. Election years often bring a sense of hesitation to the market.

Real Estate Market Update

The real estate market remains active, with a steady influx of new properties and an early uptick in price adjustments this summer. This week in Incline Village and Crystal Bay, we observed normal activity with 7 new listings, 6 pending sales, 22 price adjustments, and 7 successful closings.

One standout property is 694 Birdie Way, a rare gem on Birdie Lane. Birdie Lane is a small, secluded enclave with a stunning setting, accessed solely from Mt. Rose Highway. This luxury condominium features great natural light from south-facing windows, high-quality amenities, A/C, a fenced backyard, and a hot tub.

Lower-elevation properties continue to be in high demand, especially if they are remodeled. For example, 989 Fairway received multiple offers and sold quickly without ever being listed on the MLS. This property is situated on the Champ Course with a private setting, a usable lot, and a 99% remodeled interior.

Another noteworthy property is 960 4th Green, which recently went into escrow. It boasts a beautiful lot and an "East Coast" architectural style. While the home requires a full cosmetic overhaul, it promises to be a worthwhile project in the end.

Looking Forward to Locals' Summer

As the tourist season winds down, and kids begin to prepare for school, we can all look forward to Locals' Summer. This is a special time when residents can enjoy the beautiful surroundings and amenities of Incline Village and Crystal Bay without the usual hustle and bustle. The lake temperatures are warming up, making it perfect for swimming, boating, and all sorts of water activities.

We hope you're as excited as we are for the peaceful and enjoyable days ahead!