Incline Village has been affected by the economic slowdown, reflecting lower home sales prices and fewer sales, as seen across most markets. The median sales price of a single family home in Incline Village, dropped to $1,383,060 in 2008, down 6% from $1,24187,500 in 2007. This is better than you might expect considering the sales volume dropped 39%, as 84 homes sold in 2008 compared to 138 in 2007. Read all Incline Village home sales stats for 2008 at BuyTahoeHomes.com
Incline Village Real Estate December 21
We have seen a slight increase in activity for December. With mortgage rates hoovering at 4 year lows around 5% for a 30 year fixed mortgage, buyers who have good credit and can qualify for documented loans are seeing opportunity in the market.
One notable sale that I represented the buyers for at 521 Sugarpine closed last Friday for $530,000, it was listed for $599,000 and was a fantastic buy for a 3 story home, remodeled on 3/4 of an acre in desirable Ponderosa neighborhood. The home 2 doors down at 527 Sugarine is in contract with a list price of $3.495M, so this helps supports the value here.
19 new listings came onto the Incline Village and Crystal Bay market in the past two weeks, including 8 homes, 2 PUD’s, 8 condos and 1 commercial listing. There were 23 price changes, 3 new properties in escrow including 928 Dorcey listed at $595,000, 121 Rubicon listed at $1,495,000- an amazing buy, and 88 Shoreline Circle listed at $2,695,000- a quiet location across from the Lake. There are 17 properties in contract currently and 6 sales have closed in the past two weeks.
Check BuyTahoeHomes.com for weekly Incline Village Real Estate updates for home sales and new listings.
Watch an episode of “My House is Worth What?” featuring a master bedroom addition on a beautifully update Tahoe style home. Great scenes of Tahoe and learn how to add value to your home! Read about the Incline Village episode airing Nov. 30 at noon.