2010 Incline Village Real Estate Roundup and Summary
Incline Village Real Estate Summary Year End, 2010
By Tim Lampe, Incline Village Luxury/Resort Real Estate Agent
The Incline Village Real Estate market sprang to back to life in 2010 with well over 210 closed sales!!! There was a surge in Incline Village real estate sales volume during 2010 that was strong. If you've visited or live in Incline Village, then you know what a unique place it is to live/play and raise kids!!!
Incline Village is a resort destinantion that has so much more to offer than any other resort destination, even other parts of Lake Tahoe.
While the median prices for houses and condos slipped back to 2002 - 2003 levels, individual unit sales have increased by 40% over the previous year while prices have declined for both houses and condos. The available listing inventory is currently retreating even from peak levels from a couple of years ago and it is very clear that the Incline Village Real Estate market is begining to stabilize. The median price for a home has dropped from $1.2 million in 2007 to $815,000 in 2010 and the median price for a condo from $585,000 to $333,000. Free standing condo sales were the strongest segment of the market and held well. Lakefront home sales were exceptionally strong throughout 2010 with record levels of sales volume compared to the last two years.
Moving into 2011, there are many opportunities for buyers and it appears that the Incline Village Real Estate market will be the year to invest in this luxury resort market. Sellers will need to be on the "New Price List" and market their properties aggressively to compete with the bank owned and short sale properties. With interest rates low (but climbing), inventory decreasing, and all the benefits of Incline Village, 2011 should be a great year providing wonderful opportunities for buyers. If you or someone you know has been thinking about Owning in Incline Village, now might be the time to gear up and be ready when the right property comes your way. The good ones are selling quickly.
I believe we'll see the Incline Village Real Estate market continue to make huge strides in 2011. If you would like more information on Nevada Residency or Properties Currently Available, please contact my office at 775-831-7000 or email me at lampetahoe@charter.net I am always here for you!
Tim Lampe
