The Nevada side of the North Shore of Lake Tahoe continues to see significant sales with two lakefront homes going into escrow within eight days in both Incline Village and Crystal Bay.
On September 18, 470 Gonowabie Road went into contract. The 1.48 acre lakefront property was listed at $11,500,000. The property itself actually consists of three parcels (460, 470, and 480 Gonowabie Road), with three piers and a boathouse and a combined 10,578 square feet of coverage (there is one existing home that is a tear down).
On September 25, 25 Shoreline Circle went into contract. This 7 bedroom & 6 bath, 7,009 square foot, lakefront home was listed at $14,500,000. Two buoys, a marine launching rail system, 100 feet of lake frontage, and a lush landscaped lawn, combine to create exceptional lakefront living.
At the mid-year mark, Incline Village and Crystal Bay single-family home sales had increased 38% year-over-year. Sales volume was just three homes shy of the 2013 peak of sales volume for the region. As predicted, we have seen a surge in Nevada real estate since tax increases affected California residents and created cause for Californians to seek residence in their more tax-friendly neighboring state.
Next week we will deep dive into Q3 trends, as our Q1-Q3 Lake Tahoe real estate market analysis will be released. Look for the report to be published here.
Source: Incline Village MLS | Photo Source: Incline Village MLS