2020 Incline Village Real Estate Insights
If you read our 2020 Luxury Real Estate Insights blog, you’ll know last year was a wild one for the Tahoe real estate market. This week we want to drill down even further and provide insight into the Incline Village / East Shore market specifically.
The East Shore of Lake Tahoe had a staggering 96% increase in properties sold over $1 million and Incline Village was close behind with an 83% increase. While the North & West Shores were the leaders in lakefront sales, Incline had 16 lakefront sales in 2020 vs 4 in 2019 and the East Shore had 16 vs 6.
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In 2020, we reached historic highs of both median price and sales volume across the board
The East Shore had…
- 213% increase in volume ($441M sold)
- 96% increase in units (131 total sold)
- 25% increase in median price ($1.974M median price in 2020)
Incline Village had…
- 133% increase in volume ($823M sold)
- 83% increase in units (277 sold)
- 11% increase in median price ($1.8M median price in 2020)
Tahoe Lakefront Sales:
- 255% increase in volume ($58.4M sold)
- 300% increase in units (16 sold)
- -11% decrease in average price ($12.9M average price in 2020)
The 2020 run-up in sales volume and pricing should temper some in 2021, but low inventory and strong buyer demand will keep appreciation rates in the high single digits through 2021. You can expect prices to continue to rise and multiple offer scenarios to remain commonplace.
In 2021, it will be critical to work with an agent who knows the local market inside and out and understands the true value of your home. As a top producing agent in the Tahoe luxury real estate market, Amie is perfectly poised to help make your selling process quick and easy. Discover what your home is worth with our FREE home evaluation. You can also reach Amie by text or calling 650.290.3008 or email email@example.com.