MARKET REPORT INCLINE VILLAGE Q4 MARKET REPORT JANUARY - DECEMBER 2020
W W W.R EMA XGO LD.COM
INCLINE VILLAGE REAL ESTATE MARKET:
REFLECTING ON Q4 The Lake Tahoe region housing market underwent the largest increase in year-over-year sales since I could remember, ranking among the fastest growing rural areas in 2020 and garnering nationwide attention; 2021 inventory shortages and low rates will perpetuate current conditions. The Incline Village/Crystal Bay real estate market has performed at a record level for the last half of 2020, despite facing unprecedented challenges in the face of a national pandemic, with over year-over-year sales growth of roughly 150% from May to October of 2020. From January 2020 to January 2021 we’ve seen a significant change in our local market. Active inventory has decreased by 41.6%, average price per SF has increased 108.8%, Median Sales price has increased 78.8% to $2,490,000 as of January 2021 and total sales volume and quantity of sales have skyrocketed. All data points demonstrating that pandemic-induced lifestyle relocations can be used to explain this past year’s market performance. Highly favorable mortgage rates were also a factor. Luxury sales have surged nationwide, and Tahoe is no exception, recording an increase of 41.5 % in the third quarter, compared to last year. Government relief programs, rental market movements, and unemployment will continue to mix the economy with uncertainty, according to Belleci. However, real estate has not mirrored the overall mood of the economy, offering economists something positive to talk about. Belleci expects the new year to reflect current conditions, which suggests inventory shortages will slow the overall pace and volume of sales in 2021, but days on market and price metrics will remain as strong. Historically, winter is a buyer’s market. Mortgage rates and ongoing remote work trends should continue to back the luxury real estate market, and it will remain a seller’s market. No one can predict what impact the lingering pandemic, mortgage forbearance coming due, and social challenges we’ll have. We’re going to focus on our clients and our market, regardless of what arises. RE/MAX Gold offers real estate services throughout the Lake Tahoe basin, Carson Valley and Reno including California, Nevada and Truckee.
OVERALL MARKET BREAKDOWN
$1,612,500 M E D I A N S A LE S P RICE
136 AV E RAG E DAY S O N MA RKET
368 TOTA L U NI T S S O LD
$x886,070,916 TOTA L VO LU M E SO LD
97.7% % LI S T TO SA LE
233 U N I T S OV E R 1M
55 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
-11%
R EPOR T
JA N UA R Y - D E C E M B E R
CONDOMINIUMS
+25%
D EC.
2020
%
MED IAN S AL E S P R IC E
$14,375,000
$10,775,000
-25%
AVERAGE S OL D P R IC E
$14,600,000
$12,940,500
-11%
248
249
0%
HIGHES T S O L D P R IC E
$24,500,000
$27,500,000
12%
LOWES T S O L D P R IC E
$5,150.000
$5,850,000
14%
4
16
300%
94%
92%
-2%
AVERAGE DAYS O N MAR K E T
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - D E C E M B E R
$58,400,000 $207,048,000
CHANGE
255%
%
2019
2020
MED IAN S AL E S P R IC E
$2,150,000
$2,300,000
7%
AVERAGE S OL D P R IC E
$2,249,889
$2,812,882
25%
136
120
-12%
HIGHES T S O L D P R IC E
$4,100,000
$6,100,000
49%
LOWES T S O L D P R IC E
$1,385,000
$950,000
-31%
9
17
89%
95%
97%
2%
$20,249,000
$47,819,000
136%
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
-
2020
TOTAL D OL L AR VO LU ME
LAKEFRONT
JAN.
2019
PROPER TIES SO L D AVERAGE SOLD PRICE
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - D E C E M B E R
JA N.
-
D EC.
2 0 2 0
%
2019
2020
MEDI AN SALES PRICE
$ 1, 285,000
$1,425,000
11%
AVERAGE SOLD PRICE
$ 1, 592,189
$1,932,655
21%
160
138
-14%
HI G HEST SOLD PRICE
$ 11, 600,000
$10,900,000
-6%
LOWEST SOLD PRICE
$ 375,000
$475,000
27%
P ROPER TI ES SOL D
219
356
63%
% SOLD PRI C E TO AVG L IS T PRICE
96%
97%
1%
AVERAGE DAYS O N MARKET
TOTAL DOLLAR VO LUME
JA N UA R Y - D E C E M B E R
$ 348, 6 89,388 $688,025,266
2019
2020
CHANGE
% CHANGE
$ 534 ,500
$620,000
16%
AVERAG E SOLD PRICE
$ 578 ,216
$720,185
25%
10 0
108
8%
HIGHEST SOLD PRICE
$ 1, 650,000
$2,212,500
34%
LOWEST SOLD PRICE
$ 250 ,000
$265,000
6%
P ROPER TI ES SOL D
15 8
234
48%
% SOLD PRI C E TO AVG L IS T PRICE
98 %
99%
1%
$ 91. 35 8,088
$168,523,288
84%
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
+21% AVERAGE SOLD PRICE
97%
MEDI AN SALES PRICE
AVERAG E DAYS O N MARKET
LIVE
NON-LAKEFRONT CONDOMINIUMS
+25% 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
+73%
R EPOR T
JA N UA R Y - D E C E M B E R
ALL PROPERTIES
+33%
D EC.
2020
%
MED IAN S AL E S P R IC E
$2,075,000
$2,930,000
41%
AVERAGE S OL D P R IC E
$2,082,688
$3,607,215
73%
172
158
-8%
HIGHES T S O L D P R IC E
$3,500,000
$10,900,000
211%
LOWES T S O L D P R IC E
$735,000
$1,405,000
91%
16
25
56%
98%
98%
0%
$33,323,000
$90,180,376
171%
2019
2020
MED IAN S AL E S P R IC E
$1,390,000
$2,775,000
100%
AVERAGE S OL D P R IC E
$2,483,853
$3,299,190
33%
134
173
29%
HIGHES T S O L D P R IC E
$11,600,000
$7,140,000
-38%
LOWES T S O L D P R IC E
$775,000
$1,200,000
55%
17
29
71%
96%
98%
2%
$42,225,500
$95,676,500
127%
AVERAGE DAYS O N MAR K E T
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - D E C E M B E R
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
-
2020
TOTAL D OL L AR VO LU ME
MILL CREEK
JAN.
2019
PROPER TIES SO L D AVERAGE SOLD PRICE
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - D E C E M B E R
JA N.
-
D EC.
2 0 2 0
%
2019
2020
MEDI AN SALES PRICE
$ 1, 37 2,500
$1,262,500
-8%
AVERAGE SOLD PRICE
$ 1, 71 7,375
$1,768,318
3%
2 88
227
-21%
HI G HEST SOLD PRICE
$ 3, 09 5,000
$4,175,000
35%
LOWEST SOLD PRICE
$ 980,000
$665,000
-32%
14
22
57%
95%
93%
-3%
$ 24, 043,250
$38,903,000
62%
2019
2020
MEDI AN SALES PRICE
$ 1, 729,500
$2,775,000
60%
AVERAG E SOLD PRICE
$ 1, 767,786
$5,834,714
230%
162
268
66%
HIGHEST SOLD PRICE
$ 3, 750,000
$24,850,000
563%
LOWEST SOLD PRICE
$ 625 ,000
$670,000
7%
14
18
29%
98%
98%
0%
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 - D E C E M B E R
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
$ 24, 7 49,000 $105,024,850
CHANGE
% CHANGE
LIVE
LO C A L LY.
SELL
LO C A L LY.
PONDEROSA ALL PROPERTIES
+3% AVERAGE SOLD PRICE
CRYSTAL BAY ALL PROPERTIES
+230% AVERAGE SOLD PRICE
324%
W W W. R E M A X G O L D. C O M
MA R K ET
LOWER TYNER ALL PROPERTIES
+2%
R EPOR T
JA N UA R Y - D E C E M B E R
ALL PROPERTIES
+1%
D EC.
2020
%
MED IAN S AL E S P R IC E
$1,610,000
$1,470,000
-9%
AVERAGE S OL D P R IC E
$1,866,618
$1,911,161
2%
244
129
-47%
HIGHES T S O L D P R IC E
$5,000,000
$4,500,000
-10%
LOWES T S O L D P R IC E
$650,000
$800,000
23%
17
31
82%
97%
97%
1%
$31,732,500
$59,246,000
87%
2019
2020
MED IAN S AL E S P R IC E
$1,475,000
$1,322,500
-10%
AVERAGE S OL D P R IC E
$1,574,105
$1,595,889
1%
120
142
18%
HIGHES T S O L D P R IC E
$3,750,000
$5,700,000
52%
LOWES T S O L D P R IC E
$614,000
$689,000
12%
19
18
-5%
96%
97%
1%
$29,908,000
$28,726,000
-4%
AVERAGE DAYS O N MAR K E T
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - D E C E M B E R
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
-
2020
TOTAL D OL L AR VO LU ME
UPPER TYNER
JAN.
2019
PROPER TIES SO L D AVERAGE SOLD PRICE
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - D E C E M B E R
JA N.
-
D EC.
2 0 2 0
%
2019
2020
MEDI AN SALES PRICE
$ 898,500
$1,225,000
36%
AVERAGE SOLD PRICE
$ 957,139
$1,259,649
32%
1 39
101
-48%
HI G HEST SOLD PRICE
$ 1, 42 5,000
$2,580,000
81%
LOWEST SOLD PRICE
$ 700,000
$645,000
-8%
18
37
106%
96%
98%
2%
$ 17, 228,500
$46,607,000
171%
2019
2020
MEDI AN SALES PRICE
$ 1, 125,000
$1,105,000
2%
AVERAG E SOLD PRICE
$ 1, 230,000
$1,259,071
2%
57
76
33%
HIGHEST SOLD PRICE
$ 1, 570,000
$3,050,000
94%
LOWEST SOLD PRICE
$ 995 ,000
$704,000
-29%
3
14
367%
99%
98%
-1%
$ 3, 690,000
$17,627,000
378%
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 - D E C E M B E R
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
+32% AVERAGE SOLD PRICE
APOLLO ALL PROPERTIES
+2% 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
+25%
R EPOR T
JA N UA R Y - D E C E M B E R
ALL PROPERTIES
+47%
D EC.
2020
%
MED IAN S AL E S P R IC E
$1,267,500
$1,412,500
11%
AVERAGE S OL D P R IC E
$1,322,031
$1,651,222
25%
111
105
-5%
HIGHES T S O L D P R IC E
$2,850,000
$5,000,000
75%
LOWES T S O L D P R IC E
$440,000
$880,000
100%
16
18
13%
97%
99%
2%
$21,152,500
$29,722,000
41%
2019
2020
MED IAN S AL E S P R IC E
$842,500
$1,150,000
36%
AVERAGE S OL D P R IC E
$976,950
$1,439,084
47%
134
92
-31%
HIGHES T S O L D P R IC E
$2,900,000
$4,350,000
50%
LOWES T S O L D P R IC E
$375,000
$515,000
37%
20
23
15%
92%
99%
7%
$19,539,000
$33,098,940
69%
AVERAGE DAYS O N MAR K E T
% S OL D PRICE TO AVG L IST P R IC E
JA N UA R Y - D E C E M B E R
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
-
2020
TOTAL D OL L AR VO LU ME
THE WOODS
JAN.
2019
PROPER TIES SO L D AVERAGE SOLD PRICE
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
CHANGE
% CHANGE
MARKE T
RE P O R T
|
JA N UA R Y - D E C E M B E R
JA N.
-
D EC.
2 0 2 0
%
2019
2020
MEDI AN SALES PRICE
$ 1, 60 0,000
$1,295,000
-19%
AVERAGE SOLD PRICE
$ 1, 63 8,741
$1,737,672
6%
1 87
135
-28%
HI G HEST SOLD PRICE
$ 3, 30 0,000
$4,300,000
30%
LOWEST SOLD PRICE
$ 595,000
$485,000
-18%
17
32
88%
94%
97%
3%
$ 27, 858,605
$55,605,500
100%
2019
2020
MEDI AN SALES PRICE
$ 1, 441,979
AVERAG E 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 - D E C E M B E R
CHANGE
%
LIVE
LO C A L LY.
SELL
LO C A L LY.
CHAMPIONSHIP GOLF COURSE ALL PROPERTIES
+6% AVERAGE SOLD PRICE
EXECUTIVE
CHANGE
GOLF COURSE
$1425,000
-1%
ALL PROPERTIES
$ 1, 229,084
$1,289,391
5%
120
115
-4%
HIGHEST SOLD PRICE
$ 1, 739,900
$1,950,000
12%
LOWEST SOLD PRICE
$ 435 ,000
$530,000
22%
22
23
5%
98%
99%
0%
$ 27, 0 39,858
$29,610,000
10%
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
+5% 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
-9%
R EPOR T
JA N UA R Y - D E C E M B E R
JAN.
-
D EC.
2020
%
2019
2020
MED IAN S AL E S P R IC E
$680,000
$715,000
5%
AVERAGE S OL D P R IC E
$889,962
$812,041
-9%
121
126
4%
HIGHES T S O L D P R IC E
$1,615,000
$1,600,000
-1%
LOWES T S O L D P R IC E
$535,000
$475,000
-11%
13
27
108%
98%
98%
0%
$11,569,500
$21,925,100
90%
2019
2020
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
|
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
CHANGE
EASTERN SLOPE
JA N UA R Y - D E C E M B E R
ALL PROPERTIES
MED IAN S AL E S P R IC E
$1,643,175
$2,380,000
45%
AVERAGE S OL D P R IC E
$2,663,860
$2,764,419
4%
143
156
9%
HIGHES T S O L D P R IC E
$11,500,000
$6,900,000
-40%
LOWES T S O L D P R IC E
$812,500
$830,000
2%
13
43
231%
97%
96%
-1%
+4%
AVERAGE DAYS O N MAR K E T
PROPER TIES SO L D AVERAGE SOLD PRICE
% S OL D PRICE TO AVG L IST P R IC E TOTAL D OL L AR VO LU ME
$34,630,175 $118,870,000
% CHANGE
243%
MARKE T
RE P O R T
|
JA N.
2/2/2021
-
D EC.
2 0 2 0
LIV E
LO C A L LY.
SELL
LO C A L LY.
Domus Analytics | Data & Dashboards
December 2020 Market Statistics Single Family Home
December 2019
13.7%
Incline Village
15 Areas selected
November 2020
0.0%
December 2020
$1,648,000 37 89 57 $782 17 97.2% 1.5 Median Sold Price
146.7%
15.6%
-48.8%
-11.3%
-49.6%
-3.4%
Units Sold
Days on Market
Active Inventory
50.6%
24.3%
Sold $/SqFt
142.9%
21.4%
New Listings
3.0%
-1.4%
-79.5%
-16.4%
Percent of Ask Received
Absorption Rate (MSI)
Information provided by the Incline Village REALTORS® MLS. By using this dashboard, you agree to the terms of the End User License Agreement. Report ©2019 Domus Analytics
https://dashboards.domusanalytics.com/v/IVRReview
1/1
W W W. R E M A X G O L D. C O M
M A R K ET
R EPOR T
|
JAN.
-
D EC.
2020
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.
-
D EC.
2 0 2 0
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.
#1 INDEPENDENTLY OWNED RESIDEN TIAL
REAL ESTATE COM-
#1 RE/MAX FRANCHISE IN THE WORLD
N E A R LY
200,000 CLOSED TRANSACTIONS, INCLUDES OVER 16,5000 FAMILIES SERVED IN 2019
107 OFFICES | 31 COUNTIES | 280 + AGENTS
WWW.REMAXGOLD.COM OFFICE: 775-831-2420
@ INSIDEINCLINE
9 2 3 Ta h o e B l v d . 1 0 1 | I n c l i n e V i l l a g e , N V 8 9 4 5 1 S e r v ifince g Inde C apl iendent f o r n il ay Owned a n d and NeO v a dp erated a.
* Each Of
N V B . 1 0 0 1 9 2 9 LT D
|
Cal Dre#01215931