This week our featured neighborhood in Incline Village is the Millcreek Subdivision! Incline Village and Crystal Bay real estate is broken down into 16 different “subdivisions” which are more commonly known as neighborhoods. You can see our subdivision map here to get an idea of where the Central subdivision is located.
The Millcreek Subdivision consists of 276 parcels averaging .35 acre in size, making it a popular neighborhood with families and full time residents. At 6,225’ elevation, this is a low elevation area, with convenient year-round access and lots that are mostly level and easy to build on.
Thanks to redevelopment and new construction, this neighborhood has experienced substantial appreciation in the North Lake Tahoe real estate market. Older homes have been torn down and replaced with spacious, new luxury homes. It’s not unusual to see a new, $3 million estate next to an older, 1970’s ranch style bungalow; this will most likely be the next property to be replaced.
The relatively level parcels make building new homes easier, and in most cases tearing down and building new is a more economically advantageous decision than remodeling.
Millcreek boasts a prime location, walking distance to Incline and Ski Beaches. These private beaches are for the exclusive use of Incline residents, and boast beach volleyball courts, sandy beaches, BBQ pits, picnic tables, playgrounds for children, and a boat ramp (at Ski Beach). Incline Beach has restroom facilities and a snack bar open during the summer months.
Also close by are the Hyatt Regency Resort Spa and Casino, and its excellent restaurants including the Lone Eagle Grille, which serves great American cuisine on the shores of Lake Tahoe. You can also walk to the Country Club Mall, which features a variety of specialty shops, restaurants and beauty salons; the Village Green playing field, Aspen Grove event facility, skateboard park, Sierra Nevada College and Incline Middle School.
This area consists of mostly single family homes, with a few condominiums located across from the Hyatt (999 Lakeshore, 1000 Lakeshore, Country Club Mall and Village at Incline) and a Planned Unit Development (Country Club Villas).
The price range of the active residential homes for sale in the Millcreek Subdivision in Incline Village, Nevada varies from $400K up to $5.5M.
Approximately 263 Single Family Homes in this North Lake Tahoe Real Estate Subdivision
Incline Village Millcreek Statistics:
So far this year, 26 properties have been sold in the Millcreek Subdivision making it one of the busier neighborhoods in the Incline Village and Crystal Bay market. The median days on the market for these homes is 71 days which is fairly low for our area. Homes in Millcreek are very popular which has driven the days on market down creating a competive buying space. If you want a home in Millcreek, you better act decisively!
The median sold price in this subdivision this year has been $949,000 which is slightly lower than the entire market median of $1,060,000. With a low sold price of $365,000 and a high of $3,350,000, the Millcreek Subdivision is fairly diverse but with a larger quantity of single family homes.