North Tahoe Market Updates

North Tahoe Market Updates

 

 

 

INCLINE VILLAGE & CRYSTAL BAY | MARKET UPDATE

Q2, 2017


For more information visit:
LakeshoreRealty.com​

 

Lakeshore Realty Achieves Highest Luxury Sale in Over a Decade Span

Locals say there is something in the water and we tend to agree! Incline Village has seen a surge of high-end property sales capped by the record breaking sale of “Old Forge Estate” at over $31 million dollars. In the first six months of 2017, Lakeshore Realty has sold $36,000,000 more than the same period last year. There have been more sales over $10M in the last 5 years than the previous 10 years combined. Typically, homes over $10M in Incline village stay on the market for an average of 468, days but “Old Forge Estate” closed escrow in only 66 days! This emerging market for high-end real estate has encouraged more owners to put their homes on the market, including the Crystal Pointe Estate currently listed for $75M. With the economy doing well in 2017, we expect this trend to continue for the foreseeable future!


 

SINGLE FAMILY HOME SALES TRENDS

Residential home sales in Incline Village, Nevada are down 13% compared to last year at this time. However, the trend in growing sales prices remains steady with a 15% increase to the median price of $1,137,500. What we can interpret from these numbers is that we are currently in a very strong seller's market with rising prices and a shortage of inventory. Further support for this argument can be seen with the rising minimum and maximum sales prices compared to last year. The minimum sales price rose from $395,000 in 2016 to $455,000 in 2017, while the maximum rose from $25,200,000 in 2016 to $31,100,000 in 2017. The spread of inventory is not expanding but the market for residential homes is rising to a higher sales bracket all together.

 

 

 

 

 

 

 
 
 
 
 
 

 

 
PLANNED UNIT DEVELOPMENTS (PUD's) SALES TRENDS

 

Planned Unit Developments (PUD’s) are steadily climbing with a 5% 
increase to the median price of $1,065,000 vs. last year at this time. 
Price ranges vary per complex with entry level beginning at $353,000 
Mt. Rose Chalets, mid-level $1,125,000 Red Cedar Estates, and a high of $1,330,000 Incline Creek Estates.
 
New construction at Incline Creek Estates has accounted for a higher median list price for PUD’s currently on the market than we have seen in previous years and time will tell if the higher price point results in sales.​
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


CONDOMINIUM SALES TRENDS

The condominium market remains strong with median sales price of $442,500 and 87 total listings sold. With higher prices for single family homes, many buyers are considering other options within their respectable price range. This has lead to a surge interest in the condominium market through the first six months of this year. 

 

Mt. Shadows complex leads the market with 10 listings sold at a median price point of $328,750. The sales volume at this price point is further proof that the condominium market will continue to flourish as long as home prices continue to increase.​

 

                                                                                                                                                                                                                               

 
 

 

 

 

 


 

LOT & LAND SALES TRENDS

"When communities age and inventory becomes tight, a new real estate trend tends to emerge: raze and rebuild. It’s increasingly happening around the North Shores of Lake Tahoe on the Nevada side, where Californians desire an escape from high taxes. When a strong economy results in a scarcity of quality homes, people struggle to find what they’re looking for in the market. 

However, tearing down and starting all over is a huge undertaking. Ideally, prospective homebuyers want a home that’s live-in ready. The second choice tends to be a rebuild. The third choice tends to be starting from scratch on a vacant lot."​​

By Lauren Glendenning North Lake Tahoe Bonanza​

 

 


 

 

 

 

 

 

 


 

EXPERIENCE THE LAKESHORE DIFFERENCE

FRANCHISE VS. INDEPENDENT

1) Quality over Quantity
As a boutique firm, our backbone is based on customer satisfaction. Customer service at a smaller firm has a higher impact and rather than focusing on the number of homes sold we can focus on you and the sale or purchase of your home.

2) Office Support
We are a small close-knit group of individuals who celebrate camaraderie, meaning an entire office will work diligently to facilitate your broker’s needs and therefore yours.

3) Top-Tier Agents
Our greatest strength is our people and the proof is in the results. In 2017, our agents averaged over $9.8 million in sales each, while the next top-producing companies averaged $7.4 million and $4.8 million per agent. If you’re looking for talent, we have it in spades.

4) Undaunted by the Giants
As one of the only top producing, independent companies in Incline Village & Crystal Bay, Lakeshore Realty is no stranger to competition. We have consistently maintained our position as one of the top three producing brokerages in the last five years, including brokering the record breaking sale of Old Forge Estate at $31,100,000. Our success can be attributed to many factors but our greatest value is who we are: Local, Independent, Committed.

5) A Unique Partner
One of the only independently owned companies to stand the test of time! We have grown with this community as it has grown with us! Experience the Lakeshore Realty difference, selling your home for the most amount of money in the least amount of time, with the best representation.

6) Still Undecided?
Refer back to 1-5 and call one of our experienced agents today!


Lakeshore Realty Office Logo

Lakeshore Realty is an established leader in the Incline Village Real Estate market since
1994. Our agents offer a wealth of market knowledge, professionalism, experience
and above all, exceptional customer service. From the homes we represent to the
buyers who fall in love with them, the agents at Lakeshore Realty are more than just
professionals. We are your potential future neighbors and friends. Our office is open
7 days a week to assist you.


954 Lakeshore Blvd. Incline Village, NV 89451
775.831.7000  - 800.954.9554
Office@LakeshoreRealty.com www.LakeshoreRealty.com
App.LakeshoreRealty.com

 

 

 

 

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Contact Information

LakeshoreRealty.com
Lakeshore Realty
954 Lakeshore Blvd.
Incline Village NV 89451
775-831-7000
800-954-9554
Fax: 775-831-6777

LAKESHORE REALTY

Lake Tahoe's Incline Village Real Estate Market Experts & Home Sales Professionals

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