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Posted by: Bruce & Sandy Soli | October 21, 2011

3rd Quarter Real Estate Market Statistics Are In for Incline Village

Incline Village is a small town located on the North Shore of Lake Tahoe on the Nevada side of the Lake. This little pocket of real estate keeps charging at the market and despite the media we are still chugging along. However, numbers continue to decline in most price bands and categories when it comes to sales. The following data is collected from the Incline Village Board of Realtors MLS and is deemed reliable, but not guaranteed. There are additional properties that have sold outside of our MLS that are not included in this data. These figures will give you a good determination of what is happening in our market and how prospective buyers and sellers should approach a purchase/sale.

The 3rd Quarter Market Statistics have information on January-September 2011 data and include breakdowns on Condominiums, PUD-Planned Unit Developments or Freestanding Condominiums and Single Family Residences. Information regarding Investment Properties-multiplexes, etc. has been eliminated from this data as there has only been one sale over 1.5 years ago, rendering this category a ‘nothing’ basically.

UNITS SOLD: To date there have been a total of 171 units sold in Incline Village Real Estate since the beginning of 2011. Broken down this represents 78 Condominiums (down -4%), 20 PUD’s (down -23%) and 73 Single Family Homes (down -11%). Comparing this year over year we are down in every category by -10% in units sold.

VOLUME SOLD: Total Volume Sold is down -1% in Condominiums with a total of $30,894,790 in sales, down -39% in PUD’s to $11,898,501 in sales and down -29% to $89,106,300 for Single Family Homes. Ouch.

MEDIAN PRICE: Median and Average prices are difficult to really take much merit on due to the extreme price differences and products offered in our small town from $70K to $9Mil, however many people like to use this number so here it is… Condominiums are up 2% to $339,250, PUD’s are down -26% to $557,500 and Single Family Homes are down -6% to $775,000 for Median prices SOLD.

AVERAGE PRICE: Average prices are generally higher and this year is no difference with Condominiums up 2% to $396,087, PUD’s down -21% to $594,925 and Single Family Homes down -21% to $1,200,634. Again, not great news for a Seller, but awesome news for Buyers who can finally enter or re-enter the market as first time and vacation home buyers.

AVERAGE DAYS ON MARKET: Often times Sellers do not take this number under serious consideration when drafting their marketing strategy and sales time on the market. It has been proven time and time again that Days on Market (often seen as DOM) directly correlates to $$$ in your pocket. If you study the numbers for price bands and categories and then DOM you can often choose a better sales number to minimize your days on while maximizing the money you bring home after the sale.

3rd Quarter 2011 Incline Village Statistics-Color Graphs and Charts


Responses

  1. […] The numbers are in and although they are still down from last year, the Incline Village Real Estate Market is still chugging along. Read what Team Soli has to say about where the market is headed and what is happening with Incline Village Real Estate. These 3rd Quarter Market Statistics wrap it all up! Click here for the full story… […]

  2. […] Want to know what is happening in the market for the 3rd quarter? ┬áCheck out the 3rd Quarter Real Estate Market Statistics. […]


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