Real Estate Market Activity – January 2010, Incline Village, Lake Tahoe

Market Update, January 2010

The market is improving over last year when we review the number of closed transactions in January 2010  with 7 closed transactions. The impressive number comes from the residential properties currently under contract totaling 20! If these all close and considering we are only in our first month of the first quarter- 27+ closings is way ahead of 15 closings for 2009 first quarter sales…we still have Feb. & March to add to this number.

Closed Sales=7

• Price differential (difference between list and sold) 77.45%   
• Average Days on the Market 239

Under Contract= 20 

See the links below for detailed information on the properties in each category

Under Contract (Escrow): Residential Listings Under Contract — Condos Under Contract — PUDs Under Contract

Sold: Listings Sold in January 2010

Price Changes in the past week: Residential Price Changes —-  Condo Price Changes

Short Sales in the higher price ranges are drawing buyers- 361 Country Club is a prime example with three offers when the price was recently reduced to $1,000,000.

There is one accepted offer and two back-ups. 

361 Country Club Drive

Condo activity is doing well for those priced under $300,000  with 3 under contract and 4 closings in the last week.

Planned unit developments (town homes)

The activity in town homes has jumped this week with three Incline Creek Estates under contract with list prices ranging from $845,000 to $995,000

The lower prices are still dominating sales with 3 closings in January all under $595,000

The best buys in the $300-$400,000 price range will be the Mount Rose Chalets- little cabins with a real Tahoe Feel and large decks- 3 bed- 2 bath units.

The bottom line prices are falling into line ….time to take a serious look at investing.