It was another spectacular week for Incline Village real estate sales. The market is really hopping with 15 properties going under contract, 11 new listings and 16 places closing escrow. We saw a demand in the single-family marketplace making up 12 of the 15 accepted offers, with a median property under contract coming in at $1,699,000. Sales totals on the Incline Village MLS continue to track about 15% behind of last year for single-family homes due to the still low inventory in our market. Condo and freestanding condo sales in units are almost identical with 2016.
The properties going under contract last week ranged from $599,900 up to $12,000,000. Inventory levels are still low for this time of year with only 11 new properties coming to market in the last week. The summer crowds are steadily trickling in, but some winter-like weather has come in as well, with snow expected for this evening and tomorrow.
Dave had a great week closing on #22 Alpine Terrace for his Buyers. We listed a nicely maintained single-family property with lakeviews at 922 Dorcey, which will be hitting the market for $585,000. The property is in the process of being prepared for sale with photos coming soon. We anticipate having the listing up and running on the Incline Village MLS sometime in the next few days.
There are 2 new listings on the Incline Village real estate scene that grab our attention. Condo shoppers looking for a warm, nicely refurbished lakeview property will want to consider 400 Fairview, Unit #79 in the Bitterbrush complex. This is a two-bedroom, 2 bath, 1,307 square-foot property with a one car attached garage. The spacious living area features an open truss ceiling along with a gas log river rock fireplace and expansive views of Lake Tahoe off of the deck. In the master suite, enjoy a well appointed and newly updated master bath with beautiful finishes throughout. Offered at $580,000.
Nestled between the trees, you will love to entertain in the unique and remodeled home at 825 Jeffrey in the Jennifer Subdivision. Built in 1979 with a mountain style flair, you'll find 2,450 SF of living space in which to roam with soaring windows in the great room allowing for plenty of natural light. The floor plan boasts 3 bedrooms, 3 full bathrooms, family room, loft, large master suite with generous sitting area, a well sized dining area, and an attached two-car garage. Offered for $890,000.
If you are planning to look at Incline Village real estate while visiting Lake Tahoe this summer we would be happy to show you the best values that meet your criteria. While new listings are coming on the Incline Village MLS every week we are seeing multiple offers on a more frequent basis. The best way to avoid a bidding war is to let us know what type of property you are seeking so we can network with the other agents and find you a great property before it ever hits the market.
Please be careful when you are driving around Lake Tahoe this summer. We anticipate more visitors than at any time in the past 5 years. While the roundabouts in Kings Beach and Spumoni Circle in Incline Village help to keep traffic moving, please remember to yield to cars that are already in the roundabouts before you enter. A little bit of courtesy will prevent accidents and get everyone to their destination just a bit quicker.