This week brought Tahoe its first avalanche warning of the season—an early reminder that winter is in full swing in the Incline Village and Crystal Bay area. While avalanche warnings are a rare occurrence, this year’s early storms have made an immediate impact. Sugar Bowl reported over a foot of fresh snow in the past 24 hours, with more on the way. Despite the challenges of strong winds and intermittent power outages, the early snowfall is a welcome gift. Most local ski resorts are on track to open for Turkey Day turns, making this Thanksgiving one to remember for skiers and snowboarders alike.
This week, we had moderate activity as we inch closer to the holiday season. The numbers highlight steady interest. We saw 2 new listings, 5 properties going into contract, 6 price adjustments, and 4 successful closings.
The real estate market in Incline Village and Crystal Bay continues to demonstrate a healthy balance, with numbers that are almost identical to last year’s statistics. This consistency points to a stable and thriving local market, even as national trends paint a different picture.
As earnings reports made national headlines this week, Federal Reserve Chair Jerome Powell shared some promising news about the broader U.S. economy. He noted a solid growth rate of 2.5% this year, driven by strong consumer spending and robust business investments. However, real estate at the national level remains a challenge. Powell commented that “activity in the housing market has been weak,” citing rising interest rates that have dampened demand for homes and a lack of new supply due to high construction costs and bottlenecks in zoning and approvals.
These national challenges mirror some of the issues facing our local Tahoe market. The rising costs of construction and approvals mean that building remains a long-term investment rather than an immediate solution. However, this doesn’t mean buyers and sellers should wait on the sidelines. In fact, now is an opportune time to negotiate, as buyers face less competition and motivated sellers are eager to move their properties before the year’s end.
Final Thoughts
As winter takes hold, the beauty of Tahoe is on full display. With early-season snow blanketing the mountains and ski resorts opening for the holiday season, there’s no better time to enjoy everything this incredible region has to offer.
That said, whether you’re carving your first turns of the season or exploring Tahoe’s pristine backcountry, safety is key. Early-season snowpack can be unstable, and thin coverage on the slopes can make conditions unpredictable. Be cautious and enjoy the fresh powder responsibly. Sierra Avalance Center is a great resource for education and their Daily Avalance Forecast.
For those navigating the real estate market, the current balance of motivated buyers and sellers creates an environment ripe for opportunity. If you’ve been considering buying or selling, now is the time to act before competition ramps up in the spring.
Stay safe, enjoy the snow, and make the most of this early winter wonderland!
Real Estate Statistics for Incline Village & Crystal Bay - 11/21/2024
Houses | Condos | PUDs | |
For Sale | 58 | 48 | 13 |
Under $1 million | 0 | 28 | 2 |
Median Price for Sale | $4,250,000 | $949,000 | $1,998,000 |
YTD Sales 2024 | 111 | 103 | 24 |
YTD Sales 2023 | 94 | 101 | 32 |
YTD Sales 2022 | 111 | 120 | 23 |
New Listings | 2 | ||
Price Reductions | 6 | ||
In Escrow | 5 | ||
Closed Escrow | 4 | ||
Range in Escrow | $1,075,000 - $15,500,000 |
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 11/21/2024.
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