Let’s take a look at what’s happening with our local Real Estate Market.
2018 is turning out to be a great year for our local real estate market. We are still experiencing a Sellers’ Market, which makes this year yet another incredible year if you are considering selling.
This year also continues to be a great one for buyers nationwide, with our economy still booming, an all-time low unemployment rate of 4% and interest rates that continue to stay under 5%.
July has always been one of our biggest months when it comes to sales volume, and this trend will continue as we already have 31 properties in escrow as of July 8.
Waiting to buy may cost you thousands as we continue to witness home price increases in all price categories. In the chart below you will be able to see the monthly percentage increase by price range in the Incline Village/Crystal Bay area.
Single Family Homes/Townhomes
Month | # Sales | 2018 Median Sales Price | # Sales | 2017 Median Sales Price | # Sales | 2016 Median Sales Price |
|---|---|---|---|---|---|---|
January | 15 | $1,100,000 | 11 | $720,000 | 13 | $925,000 |
February | 14 | $1,220,000 | 6 | $827,500 | 16 | $1,155,000 |
March | 20 | $1,125,000 | 16 | $1,053,250 | 11 | $812,500 |
April | 19 | $1,290,000 | 13 | $1,090,000 | 15 | $1,081,000 |
May | 21 | $1,579,000 | 16 | $1,520,000 | 19 | $1,023,000 |
June | 19 | $1,195,000 | 22 | $1,264,000 | 19 | $1,060,000 |
