Mid-Year 2020 Market Report

Mid-Year 2020

MARKET REPORT

Incline Village & Crystal Bay

Lakeshore Realty is the #1 company in total sales volume for 2018 & 2019

954 Lakeshore Blvd., Incline Village NV 89451

Year over Year Incline Village & Crystal Bay Real Estate Market Trends

January-June 2020

January-June 2019

Single-Family Homes Total Number Sold = 59 Average Days to Sell = 214 Median Sales Price = $1,475,000 Total Sales Volume = $134,429,440

-18% -13% +7% +11%

Single-Family Homes Total Number Sold = 72 Average Days to Sell = 247 Median Sales Price = $1,379.000 Total Sales Volume = $121,325,500

-15% -3% -29% -27%

Planned-Unit Developments Total Number Sold = 26 Average Days to Sell = 119 Median Sales Price = $1,245,000 Total Sales Volume = $31,533,957

+7% -10% +6% +28%

Condominiums Total Number Sold = 69 Average Days to Sell = 118 Median Sales Price = $560,000 Total Sales Volume = $41,688,200

Planned-Unit Developments Total Number Sold = 22 Average Days to Sell = 115 Median Sales Price = $890,000 Total Sales Volume = $23,013,000

Condominiums Total Number Sold = 74 Average Days to Sell = 106 Median Sales Price = $597,000 Total Sales Volume = $53,492,300

Lots and Land Total Number Sold = 2 Average Days to Sell = 89 Median Sales Price = $363,750 Total Sales Volume = $727,500

+100% -18% +12% +123%

Lots and Land Total Number Sold = 1 Average Days to Sell = 108 Median Sales Price = $325,000 Total Sales Volume = $325,000

Incline Village & Crystal Bay Lakefront Incline Lakefront Crystal Bay Crystal Bay (non-lakefront) Apollo Jennifer Eastern Slope Mountain Golf Course Championship Golf Course Upper Tyner Lower Tyner Ponderosa Millcreek Ski Way The Woods Central North of Hwy 28 Central South of Hwy 28

Incline Village & Crystal Bay is comprised of 16 different neighborhoods.

Is 2020 going to be the best year ever in terms of real estate?

The current real estate trends says it should be!

Buyers are flocking to Incline Village & Crystal Bay, causing the real estate market to soar with 116 escrows open as of June 30th, and this speaks volumes for the demand N. Lake Tahoe property. With many adapting to the new work/life conditions, it’s not surprising that forwardthinking buyers are attracted to the mountain lifestyle. The prospect of working remotely while enjoying world-class amenities right from your doorsteps has a broad appeal and will continue to bolster the Incline Village & Crystal Bay real estate for the foreseeable future.

July 7 and 8, 2020 CNBC reported:

- Mortgage rates have hit a new low…

- Home buyer mortgage demand spikes 33%…

- Home buyers are rushing back into the market…

- Suburbs outside major cities are in high demand…

Year over Year Jan-June, 2020 statistics MLS reported:

- The number of units listed for sale is down 42%

- The number of units in escrow is up 302%

- The number of units sold is down 7%