Newsletter 2017 (2nd Quarter) Incline Village & Crystal Bay

INCLINE VILLAGE & CRYSTAL BAY

MARKET UPDATE Local, Independent, Committed

For more information visit: LakeshoreRealty.com

Lakeshore Realty Achieves Highest Luxury Sale in Over a Decade Span Highest Sales H I G H EHome ST HO M E by S A Year LES $40,000,000

(Old Forge Estate) $30,000,000 $20,000,000

$0

Stop By 954 Lakeshore Blvd. Incline Village, NV 89451 (1/2 Block from the Hyatt & across from Incline Beach) Year Homes Sales

$10.5M

$10,000,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

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!

Sold for: $31,100,000

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.

0

$0

Year

Homes Sales

Year

Active

Pending H O M E S SSold OLD BY P R I C E6 R A N G 16 E

< $750,000

10

$750,000 - $1,000,000

11

9

12

$1,000,000 - $1,250,000

12

3

8

$1,250,000 - $1,500,000

5

$1,500,000 - $1,750,000

8

$1,750,000 - $2,000,000

6

11%

7 14%

$2,000,000 - $3,000,000

3

3

2

2

9

22%

6

1

3

$4,000,000 - $6,000,000

3

1

4

$6,000,000 - $8,000,000

4

0

$8,000,000 +

3

0 12%

$3,000,000 - $4,000,000

9%

1

18%

75

11%

5% 9% 22%

14%

Median Sales Price

65

2014

$1,025,000

2015

59

2015

$900,000

2016

75

2016

$985,000

2017

65

2017

$1,137,500

32

2

65

9% 18%

12%

$400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 $1,000,000 - $1,500,000 $1,500,000 - $2,000,000 $2,000,000 - $3,000,000 $3,000,000 - $6,000,000 $6,000,000 +

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 6/30/2017.

5

1

Sales by Price Range

2014

Call Today 775.831.7000

4 5% 9%

HOMES SOLD BY PRICE RANGE

2017

$300,000

Price Range

Totals

2016

20

2017

$600,000

2016

40

2015

$900,000

2014

60

MEDIAN SALES PRICE Median Sales Price

2015

$1,200,000

2014

HOME SALES Home Sales

80

INVENTOR Y FJan OR JAN -JUN 17 Inventory for Jun 302 02017

Toll Free 800.954.9554

Download App.LakeshoreRealty.com

$400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000

Price Range

MEDIAN L Sold

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 compared to 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.

Meet with a local, experienced Realtor Today! Call 775.831.7000

0

$0

Year

PUD Sales

Year

$300,000 - $400,000

Pending

2

$400,000 - $500,000

Sold

HOMES SOLD BY 0 0 3 PRICE RANGE 5

1

$500,000 - $600,000

2

0

0

$600,000 - $700,000

0

1

0

$700,000 - $800,000

0

11% 0

2

$800,000 - $900,000 $900,000 - $1,000,000 $1,000,000 - $1,500,000

0

0

22% 3

17% 2

0

1

5

4

10

$1,500,000 - $2,000,000

10

2

Totals

23

12

0

22% 18

28%

Sales by Price Range

11% 2017

$275,000

Active

HOMES SOLD BY PRICE RANGE

2016

5.5

2017

$550,000

2016

11

2015

$825,000

2014

16.5

MEDIAN SALES PRICE Median Sales Price

2015

$1,100,000

2014

PUD SALES PUD Sales

22

I N V E N T O Rfor Y F Jan OR JA -JUN 17 Inventory - NJun 302 02017 Price Range

17%

Median Sales Price

2014

22

2014

$552,000

2015

15

2015

$467,500

2016

18

2016

$1,010,000

2017

18

2017

$1,065,000

22%

22% 28%

$300,000 - $500,000 $500,000 - $1,000,000 $1,000,000 - $1,200,000 $1,200,000 - $1,300,000 $1,300,000 +

- $500,000 *Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved$300,000 1/1/2017 - 6/30/2017.

Stop By 954 Lakeshore Blvd. Incline Village, NV 89451 (1/2 Block from the Hyatt &$500,000 across- $1,000,000 from Incline Beach) $1,000,000 - $1,200,000 $1,200,000 - $1,300,000 Price

Range

MEDIAN

Sold

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.

For more information visit www.LakeshoreRealty.com

$115,000

0

$0

Year

Condo Sales

Year

Price Range

Active

$300,000 - $400,000

S O L D11 B Y P R I C 3E R A N G26E

15 6

4

17

$500,000 - $600,000

13

8

16

$600,000 - $700,000

6

$700,000 - $800,000

1

$800,000 - $900,000

4

13%

0 7% 1 0

13% 6 5

3

$900,000 - $1,000,000

1

0

1

$1,000,000 - $2,000,000

6

1

2

3

0

0

18%

$2,000,000 - $3,000,000

2 61

CONDOS SOLD BY PRICE RANGE

0 20 20%

30%

0 87

Sales by Price Range

13%

7%

13%

Median Sales Price

71

2014

$395,000

2015

82

2015

$333,750

2016

83

2016

$415,000

2017

87

2017

$442,500

30%

18%

Toll Free 800.954.9554

$100,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000 $500,000 - $600,000 $600,000 - $800,000 $800,000 - $1,300,000

20%

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 6/30/2017.

Sold

$400,000 - $500,000

$3,000,000 +

2014

Call Today 775.831.7000

Pending

4 C O N D O3 S

$100,000 - $300,000

Total

2017

22.5

2017

$230,000

2016

45

2015

$345,000

2014

67.5

2016

$460,000

2015

90

MEDIAN SALES PRICE Median Sales Price

2014

CONDO SALES Condo Sales

INVENTOR Y FJan OR JAN -JUN 17 Inventory for Jun 302 02017

Download App.LakeshoreRealty.com M E D I A N L

$100,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000

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."

INVENTOR Y FJan O R J -A N -JUN 17 Inventory for Jun 302 02017 Price Range

Active

Pending

Sold

< $200,000

0

0

1

$200,000 - $300,000

1

0

1

$300,000 - $600,000

3

0

0

$600,000 - $900,000

1

0

1

$900,000 +

1

1

2

Totals

6

1

5

By Lauren Glendenning North Lake Tahoe Bonanza

1.25

$275,000

0

$0

Year

2017

$550,000

2016

2.5

2015

$825,000

2014

3.75

Homes Sales

Year

MEDIAN SALES PRICE Median Sales Price

2017

$1,100,000

2016

Lot & Land Sales

2015

5

2014

LOT & LAND SALES

Median Sales Price

2014

4

2014

2015

4

2015

$387,500

2016

4

2016

$1,100,000

5

2017

$740,000

2017

$714,500

Stop by on your way to Ski Beach & pick up a free tote bag!

954 Lakeshore Blvd.

Incline Village, NV 89451

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 6/30/2017.

Stop By 954 Lakeshore Blvd. Incline Village, NV 89451 (1/2 Block from the Hyatt & across from Incline Beach) 1

Experience the Lakeshore Difference Fanchise VS. Independent

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 7/27/2017.

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 brokerâ&#x20AC;&#x2122;s needs and therefore yours.

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.

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 Call 775.831.7000 800.954.9554 954 Lakeshore Blvd.

6) Still Undecided? companies averaged $7.4 million and $4.8 million Visit LakeshoreRealty.com Incline Village Refer back to 1-5 and call one of our experienced App.LakeshoreRealty.com NV 89451 agents per agent. If youâ&#x20AC;&#x2122;re looking for talent, we have itDownload in today! spades.

Call Today 775.831.7000

Toll Free 800.954.9554

Download App.LakeshoreRealty.com

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