Archive for September, 2016

Incline Village Luxury Market Update

Thursday, September 22nd, 2016

 

932 Lakeshore Blvd.

932 Lakeshore Blvd.

Summary

Activity continues to increase over $2.5 Million, with 5 new pending sales including two new contracts- a lakefront home priced at $9.9 Million and an estate property priced over $5 Million. We are seeing a strong start to the fall selling season for the luxury market this year. There have been 7 non-lakefront residential sales over $2.5 Million to date in 2016, none over $3.95 Million yet but the lakefront home and estate home in escrow will be in the $5 Million and $9 Million range. There were 20 residential sales over $2.5 Million for all of 2015, in comparison.

Under Contract

The lakefront listing at 1635 Pine Cone Circle $9.99 Million and Estate at 828 Tyner Way $5.65 Million both went into escrow this past weekend, continuing our recent run of luxury property sales. 150 Pine Cone $3.45 Million (sold last fall $3.05 Million), 1106 Tiller $3.745 Million and 928 Lakeshore $3.495 Million (on the market only a few days) are the 3 additional pending sales in Incline Village over $2.5 Million. This has accompanied an increase in showing activity in the upper end of our market in the past several weeks.
5 Pending Sales over $2.5 Million

Sales

There have been 7 sales year to date over $2.5 Million off the Lake. 600 Tyner Way just sold for $3.95 Million, newer construction upper elevation home built in 2009 with lake views over 6,000 SF. 545 Ponderosa was listed for less than a week before going into contract and selling at $3.95 Million, Ira Rodman construction with lake views, lower elevation. 996 Wedge Ct. also just sold for $2.6 Million off the Championship Golf Course. 948 Lakeshore View Ct. recently sold for $3.5 Million, well below list price of $4.2 Million- see the virtual tour. Both 62 Shoreline Circle $3.2 Million and 1132 Lakeshore $3.35 Million sold this spring in the Lakeshore area. The only other upper elevation sale so far this year was 405 Tracy Ct that sold for $2.995 Million.
7 Sales over $2.5 Million

Active Listings

A total of 5 new listings have come onto the market on Lakeshore Boulevard in the past two weeks, offering great opportunities in our prime selling season. 916 Lakeshore just came onto the market this past weekend priced at $4.25M and 1100 Lakeshore was just listed priced at $4.25M, 932 Lakeshore Blvd was listed at $3.795 Million, and 928 Lakeshore Blvd at $3.495 Million (now under contract), all remodeled and in prime locations in proximity to the beach, Hyatt pier, restaurants and shopping. 830 Lakeshore Blvd. was also listed at $2.65 Million, a smaller home at just 3,088 sq ft. and 606 Lakeshore Blvd has been on the market for a year now at $3.098 Million for this 3,930 sq ft. home.

There are 19 active listings in the Lakeshore, Lakeview Subdivision and Millcreek areas, adjacent to the Lake priced over $2.5 Million, including 3 lakefront properties all priced over $10 Million.

There are 26 active listings in the upper elevation areas, priced over $2.5 Million.

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