MARKET REPORT INCLINE VILLAGE Q1 MARKET REPORT JANUARY - MARCH 2021
W W W.R EMA XGO LD.COM
INCLINE VILLAGE REAL ESTATE MARKET:
A BROKER ’S CRYSTAL BALL A year ago Buyers were renegotiating or canceling their contracts and Sellers were entertaining price reductions and contract extensions as the country was in the midst of a lockdown. Coming out of the uncertainty of Q1 2020, we saw a massive real estate boom here in Incline Village and Crystal Bay as remote work became the new normal and urbanites everywhere (mostly CA) flocked to rural mountain towns like Lake Tahoe. As our full-time resident count increased, so did the diversity of our community bringing in new life, new friends, new environmental stewards, and new businesses. In Q1 2021, our inventory remained as low as ever, yet our sales numbers Y-T-D surpassed that of previous years by a large margin. Home prices and rents have increased significantly over the past year and there has been a slight cultural shift in our community as we welcome our new neighbors and teach them how to live responsibly and sustainably in our cherished playground, Lake Tahoe. Large employers of our new remote-working community members are accelerating partial and full reopenings of their multi-million dollar campuses and plan to have in-person work by late summer and fall. Many of our new residents are now having to renegotiate their contracts to figure out a way to stay in Tahoe while keeping their livelihoods, health insurance, and newfound lifestyle intact. Our crystal ball prediction is that many people who relocated here will try to stay in search of other remote jobs or they will return to the cities and hold on to their new homes here as a vacation home or investment properties as long as possible - only time will tell how this migration will affect our real estate market and home values should there be a mass exodus back to urban life. As we look into our crystal ball, we look for market indicators like price changes and inventory count to help determine which way the tide will flow as we enter into our busiest sales season of the year. For weekly market updates and community happenings, follow our blog at www.insideincline.com.
OVERALL MARKET BREAKDOWN
$2,125,000 M E D I A N S A LE S P RICE
58 AV E RAG E DAY S O N MA RKET
111 TOTA L U NI T S S O LD
$255,394,000 TOTA L VO LU M E SO LD
98.6% % LI S T TO SA LE
65 U N I T S OV E R 1M
46 U N I T S U N D E R 1M
INCLINE VILLAGE
MARKET AREAS
MA R K ET
LAKEFRONT S I N G L E FA M I LY H O M E
R EPOR T
JA N UA R Y - M A R C H
CONDOMINIUMS
%
$19,400,000
113%
AVERAGE S OL D P R IC E
$9,100,000
$19,400,000
113%
2301
1465
-36%
HIGHES T S O L D P R IC E
$9,100,000
$31,000,000
241%
LOWES T S O L D P R IC E
$9,100,000
$7,300,000
-20%
1
2
100%
91%
96%
5%
$9,100,000
$38,800,000
326%
2020
2021
MED IAN S AL E S P R IC E
$2,262,500
$3,100,000
37%
AVERAGE S OL D P R IC E
$2,487,500
$3,100,000
25%
139
58
-58%
HIGHES T S O L D P R IC E
$4,250,000
$3,100,000
-27%
LOWES T S O L D P R IC E
$1,175,000
$3,100,000
164%
4
1
-75%
98%
98%
1%
$9,950,000
$3,100,000
-69%
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - M A R C H
PROPER TIES SO L D AVERAGE SOLD PRICE
2021
$9,100,000
AVERAGE DAYS O N MAR K E T
+25%
M AR.
MED IAN S AL E S P R IC E
TOTAL D O L L AR VO LUME
LAKEFRONT
-
2021
PROPER TIES SO L D AVERAGE SOLD PRICE
JAN.
2020
AVERAGE DAYS O N MAR K E T
+113%
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - M A R C H
JA N.
-
M AR.
2 0 2 1
%
2020
2021
MEDI AN SALES PRICE
$ 1, 150,000
$2,100,000
83%
AVERAGE SOLD PRICE
$ 1, 292,613
$2,793,511
116%
170
91
-46%
HI G HEST SOLD PRICE
$ 3, 320,000
$14,350,000
332%
LOWEST SOLD PRICE
$ 485,000
$675,000
39%
35
62
77%
92%
98%
6%
AVERAGE DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VO LUME
JA N UA R Y - M A R C H
$ 45, 241,440 $173,197,700
2020
2021
CHANGE
% CHANGE
$ 492 ,000
$762,500
55%
AVERAG E SOLD PRICE
$ 587 ,134
$861,166
47%
10 5
77
-27%
HIGHEST SOLD PRICE
$ 2, 212,500
$2,425,000
10%
LOWEST SOLD PRICE
$ 285 ,000
$390,000
37%
29
44
52%
98 %
101%
2%
$ 17, 02 6,900
$37,891,300
123%
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VOLUME
LO C A L LY.
SELL
LO C A L LY.
NON-LAKEFRONT S I N G L E FA M I LY H O M E
+116% AVERAGE SOLD PRICE
283%
MEDI AN SALES PRICE
AVERAG E DAYS O N MARKET
LIVE
NON-LAKEFRONT CONDOMINIUMS
+47% AVERAGE SOLD PRICE
W W W. R E M A X G O L D. C O M
MA R K ET
LAKEVIEW ALL PROPERTIES
R EPOR T
JA N UA R Y - M A R C H
ALL PROPERTIES
%
$4,949,500
136%
AVERAGE S OL D P R IC E
$2,100,000
$5,137,250
145%
153
160
5%
HIGHES T S O L D P R IC E
$2,100,000
$8,000,000
281%
LOWES T S O L D P R IC E
$2.100,000
$2.650,000
26%
1
4
300%
90%
95%
6%
$2,100,000
$20,549,000
879%
2020
2021
MED IAN S AL E S P R IC E
$2,287,500
$3,400,000
49%
AVERAGE S OL D P R IC E
$2,287,500
$4,912,500
115%
487
56
-89%
HIGHES T S O L D P R IC E
$3,100,000
$14,350,000
363%
LOWES T S O L D P R IC E
$1,475.000
$1,650,000
12%
2
8
300%
94%
98%
5%
$4,575,000
$39,300,000
759%
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - M A R C H
PROPER TIES SO L D AVERAGE SOLD PRICE
2021
$2,100,000
AVERAGE DAYS O N MAR K E T
+115%
M AR.
MED IAN S AL E S P R IC E
TOTAL D O L L AR VO LUME
MILL CREEK
-
2021
PROPER TIES SO L D AVERAGE SOLD PRICE
JAN.
2020
AVERAGE DAYS O N MAR K E T
+145%
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - M A R C H
JA N.
-
M AR.
2 0 2 1
%
2020
2021
MEDI AN SALES PRICE
$ 2, 61 0,000
$1,590,000
-39%
AVERAGE SOLD PRICE
$ 2, 61 0,000
$2,205,714
-15%
1 86
86
-54%
HI G HEST SOLD PRICE
$ 3, 32 0,000
$5,200,000
57%
LOWEST SOLD PRICE
$ 1, 90 0,000
$1,155,000
-39%
2
7
250%
73%
99%
36%
$ 5, 22 0,000
$15,440,000
196%
2020
2021
MEDI AN SALES PRICE
$ 9, 100,000
$16,295,000
79%
AVERAG E SOLD PRICE
$ 9, 100,000
$16,295,000
79%
2301
1006
-56%
HIGHEST SOLD PRICE
$ 9, 100,000
$31,500,000
246%
LOWEST SOLD PRICE
$ 9, 100,000
$1,090,000
-88%
1
2
100%
91%
97%
7%
$ 9, 100,000
$32,590,000
258%
AVERAGE DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VO LUME
JA N UA R Y - M A R C H
AVERAG E DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VOLUME
CHANGE
% CHANGE
LIVE
LO C A L LY.
SELL
LO C A L LY.
PONDEROSA ALL PROPERTIES
-15% AVERAGE SOLD PRICE
CRYSTAL BAY ALL PROPERTIES
+79% AVERAGE SOLD PRICE
W W W. R E M A X G O L D. C O M
MA R K ET
LOWER TYNER ALL PROPERTIES
R EPOR T
JA N UA R Y - M A R C H
ALL PROPERTIES
%
$2,450,000
84%
AVERAGE S OL D P R IC E
$1,330,000
$2,794,500
110%
179
76
-58%
HIGHES T S O L D P R IC E
$1,375,000
$4,825,000
251%
LOWES T S O L D P R IC E
$1,285,000
$1,728,000
34%
2
7
250%
93%
99%
7%
$2,660,000
$19,561,500
635%
2020
2021
MED IAN S AL E S P R IC E
$689,000
$1,915,000
178%
AVERAGE S OL D P R IC E
$689,000
$1,915,000
178%
581
55
-91%
HIGHES T S O L D P R IC E
$689,000
$2,750,000
299%
LOWES T S O L D P R IC E
$689,000
$1,080,000
57%
1
2
100%
100%
101%
1%
$689,000
$3,830,000
456%
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - M A R C H
PROPER TIES SO L D AVERAGE SOLD PRICE
2021
$1,330,000
AVERAGE DAYS O N MAR K E T
+178%
M AR.
MED IAN S AL E S P R IC E
TOTAL D O L L AR VO LUME
UPPER TYNER
-
2021
PROPER TIES SO L D AVERAGE SOLD PRICE
JAN.
2020
AVERAGE DAYS O N MAR K E T
+110%
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - M A R C H
JA N.
-
M AR.
2 0 2 1
%
2020
2021
MEDI AN SALES PRICE
$ 1, 00 2,000
$1,667,500
66%
AVERAGE SOLD PRICE
$ 1, 12 4,350
$3,181,125
183%
1 12
100
-11%
HI G HEST SOLD PRICE
$ 1, 73 0,000
$11,500,000
565%
LOWEST SOLD PRICE
$ 712,500
$1,100,000
54%
6
8
33%
98%
99%
1%
$ 6, 74 5,500
$25,449,000
277%
2020
2021
MEDI AN SALES PRICE
$ 1, 085,000
$1,290,000
19%
AVERAG E SOLD PRICE
$ 1, 085,000
$1,606,667
48%
118
40
-66%
HIGHEST SOLD PRICE
$ 1, 085,000
$2,650,000
144%
LOWEST SOLD PRICE
$ 1, 085,000
$880,000
-19%
1
3
200%
94%
98%
4%
$ 1, 150,000
$4,820,000
319%
AVERAGE DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VO LUME
JA N UA R Y - M A R C H
AVERAG E DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VOLUME
CHANGE
% CHANGE
LIVE
LO C A L LY.
SELL
LO C A L LY.
JENNIFER ALL PROPERTIES
+183% AVERAGE SOLD PRICE
APOLLO ALL PROPERTIES
+48% AVERAGE SOLD PRICE
W W W. R E M A X G O L D. C O M
MA R K ET
CENTRAL NORTH & SOUTH
ALL PROPERTIES
R EPOR T
JA N UA R Y - M A R C H
ALL PROPERTIES
%
$1,200,000
-10%
AVERAGE S OL D P R IC E
$1,265,000
$1,200,000
-5%
81
63
-22%
HIGHES T S O L D P R IC E
$1,500,000
$1,200,000
-20%
LOWES T S O L D P R IC E
$880,000
$1,200,000
36%
4
1
-75%
100%
93%
-7%
$5,060,000
$1,200,000
-76%
2020
2021
$787,000
$2,035,000
159%
$1,012,485
$2,035,000
101%
67
89
33%
HIGHES T S O L D P R IC E
$1,720,000
$2,575,000
50%
LOWES T S O L D P R IC E
$755,940
$1,495,000
98%
4
2
-50%
97%
99%
2%
$4,049,940
$4,070,000
0%
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - M A R C H MED IAN S AL E S P R IC E
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
2021
$1,340,000
AVERAGE S OL D P R IC E
+101%
M AR.
MED IAN S AL E S P R IC E
TOTAL D O L L AR VO LUME
THE WOODS
-
2021
PROPER TIES SO L D AVERAGE SOLD PRICE
JAN.
2020
AVERAGE DAYS O N MAR K E T
-5%
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - M A R C H
JA N.
-
M AR.
2 0 2 1
%
2020
2021
$ 872,500
$802,100
-8%
$ 1, 02 2,500
$1,577,920
54%
1 62
82
-49%
HI G HEST SOLD PRICE
$ 1, 86 0,000
$3,250,000
75%
LOWEST SOLD PRICE
$ 485,000
$675,000
39%
4
10
150%
96%
97%
1%
$ 4, 09 0,000
$15,779,200
286%
2020
2021
MEDI AN SALES PRICE
$ 1, 950,000
AVERAG E SOLD PRICE
MEDI AN SALES PRICE AVERAGE SOLD PRICE AVERAGE DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VO LUME
JA N UA R Y - M A R C H
CHANGE
%
LIVE
LO C A L LY.
SELL
LO C A L LY.
CHAMPIONSHIP GOLF COURSE ALL PROPERTIES
+54% AVERAGE SOLD PRICE
MOUNTAIN
CHANGE
GOLF COURSE
$1,400,000
-28%
ALL PROPERTIES
$ 1, 950,000
$1,550,000
-21%
206
79
-62%
HIGHEST SOLD PRICE
$ 1, 950,000
$2,100,000
8%
LOWEST SOLD PRICE
$ 1, 950,000
$1,150,000
-41%
1
3
200%
98%
97%
-1%
$ 1, 950,000
$4,650,000
138%
AVERAG E DAYS O N MARKET
P ROPER TI ES SOL D % SOLD PRI C E TO AVG L IS T PRICE TOTAL DOLLAR VOLUME
-21% AVERAGE SOLD PRICE
W W W. R E M A X G O L D. C O M
MA R K ET
SKI WAY ALL PROPERTIES
R EPOR T
JA N UA R Y - M A R C H
-
M AR.
2021
%
2021
MED IAN S AL E S P R IC E
$801,000
$1,485,500
85%
AVERAGE S OL D P R IC E
$938,000
$1,485,500
58%
185
88
-52%
HIGHES T S O L D P R IC E
$1,600,000
$2,100,000
31%
LOWES T S O L D P R IC E
$550,000
$871,000
58%
4
2
-50%
93%
106%
14%
$3,752,000
$2,971,000
-21%
2020
2021
PROPER TIES SO L D AVERAGE SOLD PRICE
JAN.
2020
AVERAGE DAYS O N MAR K E T
+58%
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
CHANGE
EASTERN SLOPE
JA N UA R Y - M A R C H
ALL PROPERTIES
MED IAN S AL E S P R IC E
$1,150,000
$3,094,000
169%
AVERAGE S OL D P R IC E
$1,088,333
$3,622,000
233%
184
212
15%
HIGHES T S O L D P R IC E
$1,200,000
$6,800,000
467%
LOWES T S O L D P R IC E
$915,000
$1,500,000
64%
3
4
33%
94%
99%
5%
$3,265,000
$14,488,000
344%
AVERAGE DAYS O N MAR K E T
+223%
PROPER TIES SO L D AVERAGE SOLD PRICE
% S OL D PRICE TO AVG L IST P R IC E TOTAL D O L L AR VO LUME
% CHANGE
MARKE T
RE P O R T
|
JA N.
-
M AR.
2 0 2 1
LIV E
LO C A L LY.
SELL
LO C A L LY.
I N C L I N E V I L L A G E & C R Y S TA L B AY | 5 Y E A R C O M P A R I S O N
2017
MEDIAN
2018
PRICE
2019
JAN - MAR
2020
$872,500 $1,120,000 $1,395,000 $1,175,000
2021
$2,125,000
2017
32
P R OP E R T IE S
2018
SOLD
2019
36
JAN - MAR
2020
36
49
2021
JA N UA R Y - M A R C H MEDI AN PRI C E PROPER TI ES SOL D
64
2017
2018
2019
2020
2021
$ 87 2,500
$1,120,000
$1,395,000
$1,175,000
$2, 125, 000
32
49
36
36
36
W W W. R E M A X G O L D. C O M
M A R K ET
R EPOR T
|
JAN.
-
M AR.
2021
ABOUT INCLINE VILLAGE Incline Village, located on the North Shore of Lake Tahoe, is a unique area boasting spectacular homes, exceptional amenities available to residents, and Nevada tax benefits. The Incline Village General Improvement District, commonly referred to as IVGID, is a quasi-public agency and a fiscally responsible community partner which provides superior utility services and community-oriented recreation programs and facilities. As an Incline Village resident, you have access to two private gorgeous sandy beaches with park facilities, a state-of-the-art recreation center that includes an olympic-sized swimming pool, basketball courts, tennis courts, pickle ball, a pro-shop, and a cafe. Group fitness classes are offered year-round. There are two distinct Robert Trent Jones Jr. designed golf courses including the award-winning Championship Golf Course. In the winter, ski Diamond Peak Ski Resort, in your back yard. Or, enjoy the nearby Mt. Rose - Ski Tahoe, Northstar California, Squaw Valley, Alpine Meadows, or Homewood Mountain Resort, all within 15 - 40 minutes drive. We have a plethora of small mom and pop shops and resturants in town and plenty of local activities to keep you busy all year! We have three public schools: Incline Elementary, Incline Middle and Incline High School. Incline is also home to Nevada’s only four-year private university, Sierra Nevada University ( Go Eagles!) and the North Shore’s only private K-8th School, Lake Taheo School. Go Bobcats! Nevada tax benefits include no personal income tax, no corporate income tax, no gross receipts tax, no franchise tax, no inventory tax, no tax on issuance of corporate shares, no requirements of shareholders & directors to live in Nevada, no tax on sale or transfer of shares, no succession or inheritance with IRS, no sharing of information with IRS, and low property taxes.
MARKE T
RE P O R T
|
JA N.
-
M AR.
2 0 2 1
LIVE
LO C A L LY.
SELL
LO C A L LY.
ABOUT OUR TEAM The Inside Incline Team has been working and playing in the Lake Tahoe region for 15 years, and thus, is recognized collectively as a go-to resource for its local expertise, cooperation with colleagues, and ability to get the most complicated deals across the finish line. Founding members Don Kanare and Sabrina Belleci have built a team of hard-working, industry-savvy agents and staff to help them deliver an exceptional level of service to their buyers and sellers, and those referred to them. With the ability to cover every mile of shoreline around Lake Tahoe, there is no market need they are unable to address. All team members leverage the latest in web technologies to market listings and serve clients yet remain dedicated to time-honored networking and local connections as effective sources of business.
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