This year showed positive signs of recovery in the Incline Village and Crystal Bay real estate market, and Lakeshore Realty’s performance continues to be impressive.
Increase in Sales
In 2012 there was a 43.5% increase in sales overall in the Incline Village and Crystal Bay real estate market. Broken down by property type, sales this year increased:
Median Sold Price
Since 2010 there has been a 23% decrease in the median sold price for all residential properties in the Incline Village and Crystal Bay real estate market. Here is a quick sketch of the lowering median sold price from 2010-2012, broken into property types:
Days on Market
As you can see from the chart below, the days on market continue to fall as conditions improve.
In addition, the luxury market in Incline Village and Crystal Bay has had a significant uptick. This year there were 73 properties sold for more than $1 million, compared to 48 sold in 2011, for an impressive 52% increase in sales.
These local indicators are in line with the improving national real estate market. According to National Association of Realtors® chief economist Lawrence Yun, home sales are on a sustained uptrend. “Even with market frictions related to the mortgage process, home contract activity continues to improve. Home sales are recovering now based solely on fundamental demand and favorable affordability conditions.”
For more information please see our
North Lake Tahoe Real Estate 2012 Reports
or contact us at:
954 Lakeshore Blvd.
Incline Village, NV 89451