Incline Village, lake tahoe, real estate update

Spring is a time of year where mother earth begins to florish with new growth, colorful blossoms and warmer weather. It is also our traditional time to see an increase in our real estate inventory. Under our neighborhood menu drop down you can see all active listings within each neighborhood along with under contract or sold. It is updated daily.

New homes are coming on while  existing home, listed for the last few months are adjusting  their prices to stay competitive.

 One example of this is 647 Jeffrey  which had a $50,000 price reduction from $750,000 to $700,000, an good buy on a 4 bedroom home in excellent condition.

We have 3 new listings to share this week:

693 David Way= Lakeview subdivision, one block from Burnt Cedar Beach, spectacular home with perfect layout- master on main level- open floorplan with a wall of south facing windows, large decks , a level fenced yard with lake views.

 #51 Crystal Shores West, Only unit on the market within this complex- remodeled and right on the water- floating marina and sandy cove beach- a must see and own.

 595 Lariat Circle # 2- One of four units in this complex, 4 bedrooms, 3.5 baths, lakeviews from living level and master suite. Many upgrades with granite counter tops in kitchen, great room layout on main level, 3 bedrooms on second and third level has 4th bedroom full bath and family room. Privacy abounds.

It is the perfect time to start looking or reinvestigate  the market and find the perfect well priced “Tahoe Get Away”!

There are 188 residential homes on the market- ranging in prices from a high of $34 million to $1,595,000 median and $369,000 the  lowest.

The smallest home for sale is a 645 sq ft. studio apartment built over a 2 car garage in Crystal bay- priced at $575,000.

The median home size is 3,384 sq. ft. , 4 bed, 2.1 baths, priced at $990,000

The largest home is 13,210 sq ft., 5 bed, 6 baths, priced at $9,200,000.

Interesting to see the diversity of properties in our village.

Sales are picking up and the second quarter will exceed 2009 figures.

There are 23 homes under contract:8  are pending bank approval (short sales or REO’s) 

High:$4,500,000  Low: $495,000  Median: $694,000 Average $1,152,75.

The remaining 15 under contract are priced:

High: $5,995,000  Low: $372,900  Median $900,000 Average: $1,721,727

It is evident there is no consistent price range affected by short sales and REO’s.

 RES – Statistical Summary- Under contract

Sales total 33  with 20 for the 1st quarter and 13 as our midway point into the second quarter.

RES – Statistical Summary=Solds  (2010)