High End Market Improves at Incline Village

A recent increase in escrows in the high end market seems to be taking place In Incline Village. One lakefront lot listed at 10 million and an estate home for almost 15 million have been put into contract this last week. This is in addition to a flurry of escrows on the “dryside” of Lakeshore Drive, as of late. There are now 4 Lakeshore area properties in escrow with closing dates in the near future. The general public, encouraged by a very healthy stock market, seems to have gained confidence in real estate and is beginning to take and invest in higher-end properties.

Advertisements

One response

  1. This has been a big week for property sales in Incline Village, as several listings have gone into contract this week. We had 2 closings in Chase’s Incline office today alone. A disproportionate number of the listings going into escrow are high-end, over $1M listings.

    With recent stock market gains, is there a renewed confidence in the real estate market? Profit-takers may be shifting funds back into real estate to balance their portfolios, and maybe Bay Area patrons are seeing value in Tahoe once again.

    Here are some interesting market stats as of today May 31, 2007:

    184 active single family listings

    19 contingent single family listings
    14 of these over $1M, 7 over $2M, 1 at $14.95 M
    Chase has 4 of these, including the 14.95M

    9 lots active
    3 lots under contract
    1 at $10.95M (Chase), 2 under $1M

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s