Local summer is officially over, and it feels like we’ve skipped straight past fall—though we did enjoy three fantastic weeks of colorful foliage in the Tahoe Basin! Now, winter is fast approaching, and if you live here, you know how quickly the seasons shift in the mountains. Fall and spring always seem to be our shortest seasons, while winter has a way of arriving suddenly and staying awhile.
Today, we saw our first real dusting of snow over Mt. Rose Highway, with accumulations reaching at least 1.5 inches. Mt. Rose Ski Resort even began blowing snow tonight in anticipation of a big winter ahead. With all the buzz about a potential “La Niña” winter, locals are getting excited and are preparing for a robust ski season. A strong start to winter means more tourists and visitors over the holidays, boosting local businesses and rentals.
Real Estate Market Activity
Despite the cooler weather, the real estate market remains hot. This week, we saw 5 new listings, 9 pending sales, 15 price adjustments, and 12 successful closings.
One of the most notable events in recent weeks was a record-breaking sale at Old Forge, originally listed at $76,000,000 and selling for $62,000,000. To put things in perspective, this property sold for $31,100,000 back in 2017, and although there were about $1,000,000 in renovations, the drastic price increase shows just how much the market has progressed in the last eight years.
Buyer activity has been ramping up significantly over the past few weeks, with many looking to secure their Tahoe dream homes before 2025 rolls around. While the market remains competitive, there are still some great deals to be had—especially with the recent price adjustments. Now could be a prime time to make a move.
Prepare for Winter: Protect Your Home and Get Ready
As the first signs of winter settle in, it's important to ensure your home is ready for the colder months. Freezing temperatures are just around the corner, so take these steps now to avoid headaches later:
Service Your Heating System: Have your furnace or heating system inspected and serviced before the deep freeze hits. An efficient heating system will keep your home warm and cozy while saving on energy costs.
Winter Tire Rotation: If you haven’t already, schedule your winter tire change or rotation. The roads can become treacherous quickly, and it's best to be prepared for icy conditions.
Snow Removal Contracts: Get your snow removal service lined up now. Whether it's a plowing service for your driveway or a snow shoveling team for your walkways, having a plan in place will keep you from scrambling after the first major snowstorm.
Protect Your Pipes: Make sure your pipes are well-insulated to prevent freezing. Burst pipes can cause significant damage, and prevention is key as temperatures drop.
While you're preparing your home for winter, the real estate market is still full of opportunities. If you’re in the market to buy or sell, the next few months could present a great window to act before Tahoe becomes the winter wonderland we all love.
Stay warm, stay ahead of the snow, and happy home hunting!
Real Estate Statistics for Incline Village & Crystal Bay - 10/17/2024
Houses | Condos | PUDs | |
For Sale | 76 | 58 | 16 |
Under $1 million | 0 | 31 | 4 |
Median Price for Sale | $4,245,000 | $990,000 | $1,000 |
YTD Sales 2024 | 99 | 92 | 19 |
YTD Sales 2023 | 82 | 90 | 27 |
YTD Sales 2022 | 109 | 110 | 20 |
New Listings | 5 | ||
Price Reductions | 15 | ||
In Escrow | 7 | ||
Closed Escrow | 3 | ||
Range in Escrow | $519,000 - $2,750,500 |
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 10/17/2024
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