Incline Village, Lake Tahoe, Real Estate Update
July 6, 2009 Company News, Incline Village Information, Incline Village Real Estate, Lake Tahoe Information, Listings, Market Information, Uncategorized No CommentsWelcome to InclineBrokers.com Blog -- sign up for our RSS Feed.
We closed on our lake front condominium today- #18 Crystal Shores East ,a beautiful unit right on the water! It closed at $1,550,000 and is the second lake front condominium sale for 2009. The other sale was in 999 lakeshore, a backrow unit which closed at $850,000.
There are currently 17 condominiums listed for sale within lake front complexes in both Incline Village and Crystal Bay. Out of 17 there are 10 which offer true lake frontage the others are back row units. Sales have been slow but the season for selling on the water is now.
Complexes with units for sale include the following:
Complex For sale Average price Bedrooms Square footage
999 Lakeshore 2 $925,000 2 1204
crystal bay cove 2 $2,095,000 3 2100
Crystal Shores East 3 $1,266,000 3& 2 1190 to 1605
Crystal Shores West 2 $2,146,500 3 1861
Crystal Tower 1 $3,000,000 4 2840
Crystal Shores villas 2 $1,059,500 2 1168
lakeshore terrace 2 $2,374,500 3&5 1890 & 4011
Stillwater Cove 3 2,231,666 1,2,3 972 to 3624
Last year there were 5 closed lake front sales with a median selling price of $1,325,000 Low of $1,100,000 and a high of $1,988,000.
A lake front condominium is a fabulous way to enjoy Lake Tahoe and a great opportunity when placed on a rental program. The Crystal Shores unit brought in between $50,000 to $65,000 in rental income using Vacation Rentals by Owners (VRBO).