Incline Village, Nevada one of Americas most expensive places to live? Not Really!
Lake Tahoe is truly one of the most beautiful places in America to visit. But is it one of the most expensive places to live?
According to Forbes.com, Incline Village at North Lake Tahoe in Nevada, is one of the most expensive ZIP codes in America. Forbes's 2010 annual list of America's Most Expensive Zip Codes places Incline Village at #389.
If you have ever taken a drive on Lakeshore Boulevard in Incline Village and noticed some of the beautiful lake front homes, this latest list probably does not surprise you. But what may surprise you the Incline Village medium home price is just $728,260.
Most of the neighborhoods mentioned in Forbes's ZIP code list, $4 million is the norm. So with Incline Village home prices in the lower $700,000's , how did this Northern Lake Tahoe town make the Forbes most expensive Zip code list?
After researching how Forbes's chose or calculated the most expensive American neighborhoods, it is unclear how Incline made the list with the median home price of $728,260. So I thought I would provide you with some real estate market statistics on Incline Village to see why.
Currently, ( this could be why I.V. is on the Forbes list) the highest priced single family home listed for sale at Incline Village, Nevada is $34,000,000. This home has been on the market for just over 450 days and is selling for around $4,888 per sq ft.
The lowest priced home in this same area is listed for $290,000. It has been listed for 173 days and is selling for approximately $242 per sq. ft.
There are 88 active single family listings with a median list price of $907,500 and staying active for 140 days. Over the last six months, the median list price of a Incline Village home was $609,000 and the median sold price was $583,500 with only 168 days on the market. There were 22 single family homes sold in the last 6 months in this area.
Of the 22 single family homes sold, only two were priced over $1,000,000. Both of these properties took over 600 days to sell. Of the 88 homes currently listed at Incline Village, 38 are priced at $1,000,000 or higher. These homes are taking two years or longer to sell will the homes listed under $1,000,000 are selling just under one year.
From these statistics, we see at least 37% of the Incline Village, Nevadasingle family homes listed for sale, are in the million dollar price range. As I mentioned earlier, I could not find the criteria for Forbes's to use in this latest list, with Incline Village having such a high number of million dollar homes listed for sale, this might be a reason why.
If you are interested in receiving more information on the real estate market at Incline Village, Nevada, or any Northern Nevada area, please feel free to contact me on my cel phone at 775-846-5424 or email me at Terrie@terrieleighton.com. You can also search the MLS for all homes listed for sale in the Incline Village area, as well at both Reno and Sparks, Nevada. Vistit www.TerrieLeighton.com to start your search now.