It's The Shoulder Season, Market Activity Slowing Down
It’s the transitional time of year for both the weather and the Incline Village real estate market. Sales and showing activity are slowing down. Only 2 properties went into escrow during the past week on the Incline Village MLS. There were a total of 6 new listings, 8 price changes and 6 properties closing escrow during the past 7 days.
With interest rates up and stock market volatility continuing, it’s only natural to expect a bit of a slowdown for Incline Village real estate sales. Also, the weather has turned chilly with nighttime temperatures sometimes dropping below freezing. There are fewer visitors to Lake Tahoe during the shoulder season. Most people have taken their boats out of the lake for the year. Ski season has not yet arrived but you can still go hiking and mountain biking pretty much everywhere. Just be sure to dress in layers and bring plenty of water since most creeks at high elevation have dried up or are flowing at very low levels.
At the present time the inventory of single-family homes, freestanding condos and condos listed on the Incline Village MLS stands at 136 properties. This is a significant increase from one year ago but still well below historical norms for this time of year. How many new properties will get listed for sale in the next 6 months is anyone’s guess. But, we typically see a slowdown in listing activity during autumn and winter.
The new listing that catches our eye this week is a lovely home located at 568 Valley Dr. This 4 bedroom, 3.5 bath, 2820 ft.² single-family home is situated on a nice corner lot just under ¼ acre in size. The 1st thing you notice about this property is the nice landscaping along with the curb appeal. Enjoy the wraparound deck with filtered lake and mountain views with a sunny southern exposure. This mountain style home features open beam ceilings in the living area for a warm spacious feeling. Numerous upgrades throughout the property include remodeled bathrooms, granite countertops, hand carved doors and other nice touches. Offered at $2,600,000 Click Here to See a Virtual Tour
Election season is right around the corner. Along with the midterm elections for the US Senate and Congress we also have local elections for 2 IVGID Board of Trustees seats. Whatever your political views it’s important to get out and vote so that your voice is heard!
Wishing everyone a wonderful week ahead!