March 2024 Q1 Market Recap I Incline Village & Crystal Bay

The real estate market on the Nevada side of North Lake Tahoe is off to a solid to start in the first quarter of 2024. In the first 3 months of the year, a total of 50 properties changed hands; houses, condos & lots. Comparing these numbers to Q1 of 2023, sales volume is up 78% from the 28 sales we saw during the same time period last year. With warm weather on the way and already 26 new listings coming to the market last month in March and 7 more in the first week of April, all signs are pointing to an active summer.

Notable single-family home sales during the first quarter of 2024 included 1061 Lakeshore Blvd closing at $11,000,000, taking  518 days to find its new owners and starting at an original list price of $14,500,000. This property enjoys unique access to the beaches and piers of Debra and Vivian Lane Associations. Single-family home sales represented 30 of the 50 total transactions, with the lowest recorded single family home sale being 120 Vue Court closing at $1,258,000 with multiple offers. The highest number of sales were in the Eastern Slope and The Woods neighborhoods, with 5 single-family home sales in in each area respectively.

In the condo market, 19 sales took place in Q1 ranging from $3,200,000 for a lakefront condo in the Lakeshore Terrace complex to $550,000 for an original Mt. Shadows unit. 5 of the  19 condo sales took place in the Mt. Shadows complex. With significant special assessments (due to insurance challenges) and already high HOA dues in this complex, some owners are no longer able to afford high monthly expenses that come with these larger HOAs. 

If you have any questions  property insurance or are curious about specific aspects of our real estate landscape, feel free to get in touch – I'm here to help guide you through the journey of Incline Village homeownership.