Newsletter 2017 (3rd Quarter) Incline Village & Crystal Bay

INCLINE VILLAGE & CRYSTAL BAY

3RD QUARTER MARKET UPDATE 2017

Local, Independent, Committed For more information visit: LakeshoreRealty.com

3rd QUARTER 2017

A SEASON OF FIRSTS

Not to sound like a broken record, but yet again the Incline Village & Crystal Bay real estate market had an unprecedented surge in sales, setting Per Agent Sales Comparison (1/1/201-10/11/2017 new benchmarks like we’ve never seen before! Agents With the exception of PUD’s with Sale 2017 Company Sales Volume Sale (see page 4), single family homes and condos reached the highest list price, 15 $178,968,550 Lakeshore Realty sales price, and number of properties sold in recent history.

Despite a record Sierra Sotheby’s 28 $224,735,944 breaking year for sales volume, our inventory remains scarce; driving sales prices Coldwell Banker 37 $149,278,350 up. This booming market has led to an unusual problem; we need more homes to sell!

Oliver 11 $46,929,250 Specializing solely in Incline Village & Crystal Bay real estate, Lakeshore Realty is the only independent real estate firm that competes at a franchise level. We have cultivated a select group of top producing agents and host the top luxury teams in the North Lake Tahoe. Our agents average over 10 years of experience and you can rest assured that you will only be working with the best. To further our point, see the chart to the right to see why a Lakeshore Realty agent makes all the difference in your real estate endeavors.

Chase

18

$57,004,650

Real Estate Companies

Agents with Sale 2017

Company Sales Volume

Sales Per Agent (w/ sale 2017)

Lakeshore Sierra Sotheby’s Realty

15

$178,968,550

$11,931,237

28

$224,735,944

$8,026,284

Coldwell Banker

37

$149,278,350

$4,034,550

Oliver

11

$46,929,250

$4,266,295

Chase

18

$57,004,650

$3,166,925

*Information from IVBOR is deemed reliable and accurate but is not guaranteed.

Data retrieved 1/1/2017 - 10/11/2017.

Stop by on your way to Ski Beach & pick up a free tote bag! 954 Lakeshore Blvd. Incline Village, NV 89451

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

SINGLE FAMILY HOME

SALES TRENDS LES BY PRICE RANGE Single family home sales in InclineS AVillage and Crystal Bay have remained steady with 126 sales, which is only 1.6% less volume than last year at this time. The median sales price of $1,107,500 has increased over 5% which is 12% 6% $400,000 - $600,000 considered a normal and stable growth20% rate; bursting any fears of a looming $600,000 - $800,000 12% $800,000 - $1,000,000 real estate bubble in our market. The hottest selling price ranges are from $1,000,000 - $2,000,000 $1,000,000 - $2,000,000 with 42 sales thus far.$2,000,000 A close- $3,000,000 second are homes priced at $2,000,000 and above with17% 30 sales $3,000,000 in 2017.+Further, inventory 33% remains low with only 120 single family homes for sale as of early October 2017. This paired with increasing median sales prices and continued buyer demand signals a strong seller’s market for the rest of the year and beyond.

3Q Median Sales Price Comparison Q3 MEDIAN SALES PRICE $1,125,000

65

$1,050,000

32.5

$975,000

Year 2014 2015 2016 2017 YTD

Homes Sales

10%

Pending

Sold

< $400,000

0

0

0

$400,000 - $600,000

1

2

8

$600,000 - $800,000

14

4

25

9

4

21

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

37

9

42

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

7

2

15

$3,000,000 +

24

2

15

Totals

92

23

126

$800,000 - $1,000,000

I N V E6% NTORY FOR JAN-SEP 2017-1 12% $400,000 - $600,000

Year

2016

2015

2014

20%

Active

SALES BY PRICE RANGE Sales

by Price Range

S$900,000 ALES BY PRICE RANGE

2017

0

2016

97.5

2015

$1,200,000

2014

130

Price Range 2017

3Q HomeQSales Comparison 3 HOME SALES

I N V E N T O Rfor Y F OJan R J A-N Sep - S E P 230 0 1 72017 -1-2 Inventory Price Range

Median Sales Price

12%

$600,000 - Sold $800,000 Pending

Active 20%

< $400,000

2

$400,000 - $600,000

2

$800,000 - $1,000,000 $1,000,000 0 - $2,000,000 4 $2,000,000 - $3,000,000 $3,000,000 0 + 11

17% $1,075,000 < $400,000 33% 7 0 $600,000 $800,000 102 2015 $919,950 $400,000 - $600,000 $600,000 - $800,000 128 2016 $1,055,000 28% 2 1 $800,000 - $1,000,000 $800,000 - $1,000,000 126 2017 YTD $1,107,500 $1,000,000 $1,200,000 25% $1,000,000 - $1,200,000 4 1 *Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 9/30/2017. $1,200,000 - $2,000,000 5% Call Today 775.831.7000 Toll Free 800.954.9554 Download App.LakeshoreRealty.com 13% $1,200,000 - $2,000,000 9 3 104

Q3 PUD SALES

2014

Q3 MEDIAN SALES PRICE

2 5 10 8

92

Totals

Q3 HOME SALES

Q3 MEDIAN SALES PRICE

PLANNED UNIT DEVELOPMENTS (PUD's) 130

SALES TRENDS $1,125,000

65

12%

$1,050,000

3 P U D SComparison ALES 3Q PUDQSales

2017

2016

2015

2014

2017

2016

2015

2014

Planned Unit Developments (PUD’s) have experienced the highest amount of 32.5 $975,000 sales (40) we have seen for this Stime A L E Speriod.

B Y P R I CHowever, E R A N G E the median sales price had a 12% decrease compared to last year at this time. The sluggish sales of 0 $900,000 Incline Creek Estates so far this year may be one of the factors that has driven the 10% 20% median price-point down for PUD’s in InclineYearVillage andMedian Crystal Bay. In 2016, Year Homes Sales Sales Price < $400,000 11 units closed- $600,000 escrow so far this year.

2014 in this development 104 sold while only 2014 3 have $1,075,000 $400,000 $600,000 - $800,000 2015 market $919,950 construction The 2015 majority of the units 102 currently on28% the are still under $800,000 - $1,000,000 2016 128 2016 $1,055,000 and sales will likely increase as these units near completion.

The PUD market $1,000,000 - $1,200,000 25% 2017 YTD 126 2017 YTD $1,107,500 will likely remain steady for the 4th quarter $1,200,000 of 2017- $2,000,000 with an anticipated 5% 13% increase in sales this spring when more units finish construction in 2018.

Q 3 M Sales E D I A N SPrice A L E S PComparison RICE 3Q Median

40

$1,000,000

30

$750,000

20

$500,000

10

$250,000

12%

6%

$400,000 - $600,000

- 30 $800,000 I N V E N20% T O Rfor Y FO R J$600,000 A -SEP 2 0 2017 17-1 Inventory Jan - NSep

Price Range < $400,000

33%

Active

17%

2

0

11

$600,000 - $800,000

7

0

2

$800,000 - $1,000,000

2

1

5

$1,000,000 - $1,200,000

4

1

10

$1,200,000 - $2,000,000

9

3

8

$2,000,000 +

0

0

0

26

5

40

Sales by Price Range

2017

2016

2015

20.0%

Year

PUD Sales

Year

Median Sales Price

2014

33

2014

$552,000

2015

33

2015

$550,000

2016

38

2016

$981,500

2017

$862,500

40 6% 3%

2017

Stop

SALES BY PRICE RANGE

10%

4

SALES BY PRICE RANGE

2014

2017

2016

2015

2014

$0

$800,000 - $1,000,000 Pending- $2,000,000 Sold $1,000,000 $2,000,000 - $3,000,000 $3,000,000 + 0 2

$400,000 - $600,000

Totals

0

126

SALES BY PRICE RANGE

$1,200,000

97.5

23

10.0%

< $400,000 $400,000 - $600,000 $600,000 - $800,000 27.5% INVENTORY FOR JAN-SEP 2017-1-1 $800,000 - $1,000,000 $1,000,000 - $1,200,000 25.0% Price Range Active Pending Sold $1,200,000 - $2,000,000 5.0% 12.5% < $300,000 4 3 $300,000 - $400,000

15

7

9

42

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 9/30/2017. < $300,000 14% $400,000 - $500,000 By 954 Lakeshore Blvd. Incline$300,000 Village,- NV 89451 (1/2 Block from the Hyatt & across from Incline Beach)8 $400,000

3

27

0

28

Q3 CONDO SALES

29%

Q$400,000 3 M E D I A -N$500,000 SALES PRICE

$500,000 - $600,000

12

CONDOMINIUM

SALES BY PRICE RANGE

SALES TRENDS Following the trend of rising prices, the condominium market remains strong with 145 sales and a 9.4% increase in the median sales price of $465,000.

SALES BY PRICE RANGE With higher prices for single family homes, many buyers are considering other options within their respectable price range. The McCloud complex 6% 10% yet again leads the market3% with 14 sales so far this year. With a median price < $300,000 14% units along with those point of $520,000, these from Bitterbrush and Third $300,000 - $400,000 Creek are all feeding an upward trend29% of condominium sales through the end $400,000 - $500,000 $500,000 $600,000 of 2017. With a low inventory of properties for rent in our area, complexes $600,000 - $800,000 19% with vacation and long-term rental potential are$800,000 leading- $1,000,000 the market in sales as $1,000,000 + investors look to capitalize on19% increasing rental income.

3Q Median Sales Price Comparison

417,500

0

400,000

Condo Sales

Year

< $300,000 25%

4

$300,000 - $400,000 13%

5%

$800,000 - $1,000,000 $1,000,000 3 - $1,200,000 15 $1,200,000 - $2,000,000

7

9

42

$400,000 - $500,000

8

3

27

$500,000 - $600,000

12

0

28

$600,000 - $800,000

2

0

21

$800,000 - $1,000,000

4

1

4

$1,000,000 +

13

1

8

Totals

50

17

145

1

10%

14% 29%

Median Sales Price

117

2014

$429,000

2015

140

2015

$404,263

2016

149

2016

$425,000

145

2017

$465,000

19% 19%

*Information from IVBOR is deemed reliable and accurate but is not guaranteed. Data retrieved 1/1/2017 - 9/30/2017.

Call Today 775.831.7000

Pending $600,000 - Sold $800,000

Active 28%

6% 3%

2014

2017

Price Range

Sales S A L E Sby B Y Price P R I C E Range RANGE

2017

37.5

2017

435,000

2016

75

2015

452,500

2014

112.5

Year

I N V E N T O R for Y F OJan R J A-NSep - S E<P $400,000 2 0 12017 7-1-1 Inventory 30 $400,000 - $600,000

470,000

2016

150

2015

3Q Condo Sales Comparison

Q3 MEDIAN SALES PRICE

2014

Q3 CONDO SALES

10%

20%

Toll Free 800.954.9554

< $300,000 $300,000 - $400,000 $400,000 - $500,000 $500,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 $1,000,000 +

Download App.LakeshoreRealty.com

$7,795,000 755Burgundy.com 5BD 5.5BA 8,498 SF

$1,565,000 929 Northwood #64 4BD 4BA 2,959 SF

$849,000 1122 Lucerne Way 4BD 2.5BA 2,148 SF

$4,300,000 130 Rubicon Peak 6BD 6BA 2 Half BA 6,905 SF

$1,469,000 145 Tramway 4BD 3BA 3,603 SF

$799,000 957 Jennifer Street 4BD 3.5BA 2,610 SF

$4,295,000 1100 Lakeshore Blvd.

4BD 4.5BA 4,740 SF

$3,395,000 501 Eagle Drive 5BD 4.5BA 4,697 SF

$1,449,000 1070 Tiller Drive 4BD 3BA 2,571 SF

$1,350,000 710 Birdie Way 5BD 3.5BA 3,828 SF

$745,000 942 Northwood Blvd.

2BD 2BA 1,440 SF

$639,000 973 Dorcey Drive 3BD 2BA 2,090 SF

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

$2,998,000 507Driver.com 5BD 6.5BA 4,976 SF

$1,298,500 565Silvertip.com 6BD 4.5BA 3,754 SF

$569,000 400 Fairview #54 2BD 2BA 1,188 SF Call Today 775.831.7000

$1,795,000 709 Cristina Drive 6BD 5.5BA 3,762 SF

$1,195,000 999 Apollo Way 5BD 4BA 3,238 SF

$349,000 335 Ski Way #334 1BD 2BA 1,064 SF Toll Free 800.954.9554

$1,795,000 999 Fairway Blvd.

4BD 3.5BA 4,686 SF

$1,095,000 972 Pyrite Court 3BD 2BA 2,200 SF

$949,000 943 Dorcey Drive 3BD 3.5BA 2,795 SF

$279,000 870 Southwood #1 2BD 1.5BA 1,040 SF

$1,729,000 636 Lariat Circle 5BD 4.5BA 4,844 SF

$220,000 757 Randall .158 Acres

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