Are your kiddos ready to call summer 2024 a wrap? I think we all want long summers in the mountains. Back to school is an exciting and transformative time that marks the beginning of a new academic year, filled with opportunities for growth and learning. Students return to their classrooms with fresh supplies, eager to reconnect with friends and meet new teachers. This period signifies a renewed commitment to education, as students, parents, and educators come together to create an environment that fosters curiosity, creativity, and intellectual development. It's a time of setting goals, embracing challenges, and laying the foundation for future success. The back-to-school season also brings a sense of structure and routine, helping students develop essential life skills such as time management, responsibility, and perseverance. As the school year kicks off, the excitement and energy are palpable, setting the stage for a year of discovery and achievement. As your children make their way back to the classrooms, I hope you’ll cherish these memories of the “first day” – whether that is kindergarten or senior year. Let’s make it a great week!
Real Estate Market Update
The real estate market remains active, with a steady influx of price decreases as we inch closer to fall. This week in Incline Village and Crystal Bay, we observed an uptick of luxury listings hit the market with 9 new listings, 9 pending sales, 17 price adjustments, and 10 successful closings.
A few standout luxury Lakeview listings hit the MLS this week with a premium price tag, even though they are still under construction.
● 539 Dale Drive: Listed at a whopping $9,400,000, this home boasts 5 bedrooms, 6.5 bathrooms, and 4,909 square feet of living space with a great view from the west side of town. Owned and renovated by Whisper Homes LLC, it remains to be seen if this home will command the premium price they are asking. From my research, this is the first project owned by the company in Incline.
● 739 Burgundy Rd: Listed this week for $11,988,000, this home is currently under construction by Fortress Construction and owned by Jonathan Koch, a Hollywood executive and inspirational speaker known for making medical history with a hand transplant. This home will be a stunning finished project. If you’ve ever seen homes by Fortress, you’re well aware of the quality. The finished product will feature 5 bedrooms, 5 bathrooms, and 3 powder rooms, encompassing 5,900 square feet on a beautiful and private east slope lot, a little over an acre. The property is being offered in various stages of construction, allowing a Buyer to put finishing touches and customizations on a home with a contractor already working on the project.
As we move through August, let's embrace the new beginnings of the school year and the bustling activity of our local real estate market. Here's to a successful and enriching month ahead!
Real estate statistics for Incline Village & Crystal Bay - 08/05/2024
HOUSES | CONDOS | PUDs | |
For Sale | 82 | 78 | 16 |
Under $1 million | 0 | 45 | 4 |
Median Price for Sale | $3,322,500 | $949,500 | $2,247,000 |
YTD Sales 2024 | 64 | 56 | 12 |
YTD Sales 2023 | 39 | 51 | 14 |
YTD Sales 2022 | 75 | 80 | 15 |
New Listings | 9 | ||
Price Reductions | 17 | ||
In Escrow | 9 | ||
Closed Escrow | 10 | ||
Range in Escrow | $425,000 - $6,999,000 |
Please keep in mind that these numbers are based on data from the Incline Village Board of REALTORS® or its Multiple Listing Service as of 8/5/2024
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