Archive for March, 2017

Wednesday, March 8th, 2017
Incline Village Market Report February, 2017
February continued to be strong for luxury home and condo sales in Incline Village, Nevada.

15 condos are currently pending sale, ranging from $300K- $475K, with 11 condo sales in the past month from $300K- $800K. 31 condos are actively listed from $280K- $800K, and another 7 lakefront condos are active from $1.15M to $4M.

7 homes are currently pending sale from $1M- $2.5M, and another 4 homes are pending over $2.5M to $3.75M in addition to 857 Lakeshore Blvd. known as “Lake Tahoe Castle” pending at $23.9 Million. Of note, the highest priced upper elevation pending sale is $2.65M that went into escrow last fall as a lease option. The rise in pending sales is significant, considering only 3 homes sold over $2.5 Million in the first half of the year in 2016.

Lakefront buyer activity has picked up, although inventory is extremely low, with only two “off-market” new construction lakefront homes not listed on the MLS, and one listing in the $12M range for an older lakefront home on 1 acre. There will be a new listing coming onto the market at the $11 Million price point in the coming weeks.

Showings in February were hampered by all of the snow, despite more buyer inquiries and interest. With sunshine forecasted through the next two weeks, it will allow upper elevation homes to thaw out, and beautiful blue skies to enjoy skiing and outdoor activities!

See also 2016 Lake Tahoe Year End Reports

Sales and Pending Sales for February

Homes over $1 Million
11 pending sales from $1M and $4M
1 lakefront pending at $23.9M
1 home sale at $1.85 M
82 active listings

Homes under $1 Million
8 pending sales from $450K- $998K
4 home sales from $365K- $770K
23 active listings

Condos under $1 Million
15 pending sales from $299K- $918K
11 condo sales from $298- $758
31 active listings

7 lakefront condos over $1M

Incline Village Best Buys

Spring is a great time to buy property in Incline Village and we are having a strong 1st quarter for sales. With more buyers entering the market as we head towards summer, competition for homes is increasing so don’t wait!

Homes under $500,000
2 Total Listings

Homes $500,000- $1 Million
10 Total, 2 New Listings!

Homes $1 Million- $1.5 Million
16 Total, 4 New Listings!

Homes $1.5 Million- $2 Million
13 Total, 6 New Listings!

Homes $2 Million- $3 Million
17 Total Listings

Homes $3 Million- $4 Million
10 Total, 2 New Listing!

Homes $4 Million and up
10 Total, 2 New Listings!

Lakefront Homes
8 Total Listings

Condos under $500,000
11 Total, 5 New Listings!

Condos over $500,000
18 Total, 2 New Listings!

Lakefront Condos
5 Total, 1 New Listing!

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