12
Jan-2019

Median Home Price in Incline Village Reaches $1.269 million, NV Tax Benefits Get Credit

View from the East Shore / Incline Village / NV

As we continue to post our news twice a month to keep you posted on Lake Tahoe real estate, lifestyle, building, and architectural trends and information, we’ve chosen this issue to share some astounding news that was recently released by our friends at Chase International real estate.

For over 25 years, they have led the region in representing most of the luxurious properties for sale in Incline Village, NV, home of our architectural firm right here on Lake Tahoe’s Nevada shoreline.

Within a recent press release, they announced that the median home price in Incline had reached  1.269 million dollars. The trend to move to this edge of the High Sierra also includes a variety of tax benefits; here are some highlights:

  • No Corporate Income Tax
  • No Personal Income Tax
  • No Inventory Tax
  • No Unitary Tax
  • No Estate and/or Gift Taxes
  • No Franchise Tax
  • No Inheritance Tax
  • No Special Intangible Tax

PLUS ... With your annual IVGID Recreation Fee, your family and friends receive special pricing and access to private beaches, Diamond Peak, Incline Championship & Mountain Golf, Recreation and Tennis Center, Bike Park, Ball Parks and more.

All of which certainly are fine reasons to relocate to the state of Nevada and our beautiful community of Incline.

Additional Lake Tahoe real estate news and trends that were published in Chase International’s press release in NORTHERN NEVADA BUSINESS VIEW follows:

  • A sizable increase in million-dollar home sales served as the foundation of the Lake Tahoe real estate market in 2018 — highlighted by a median home price in Incline Village that nearly doubles the region’s overall average.
  • According to statistics released this week from Chase International, when comparing 2018 to 2017, homes sold for more than $1 million increased by 19 percent, bringing the median price of homes in the greater Tahoe-Truckee region up 12 percent to $652,750.
  • The median home price in Incline Village, meanwhile, on the North Shore ballooned by 19 percent to $1.269 million, making it the most expensive area to purchase a home. Overall units sold increased by 8 percent.

According to Chase, while the overall dollar amount that homes sold for increased by 18 percent in 2018, the actual number of homes sold decreased by 3 percent, “which reflects the current market’s rising home prices and limited inventory.”

“Inventory has always been an issue in Lake Tahoe,” Susan Lowe, corporate vice president of Chase International, said in a statement. “There’s limited space in a highly coveted second home region.

In closing, my wife Kelly Borelli and I have lived in Incline and operated our Lake Tahoe based architectural firm and interior design firm for over 25 years.  As such, we have a really good sense of what is occurring with the local and regional real estate trends and new Nevada-based resort developments.   When you have an interest in learning more about our community of Incline, the prestigious new Clear Creek Development in the Carson Valley, or what’s new in the Martis Camp resort in Truckee, and then some, contact us at any time.

We’ve been designing homes throughout the region for many years and happy to share our insight with you.


James P. Borelli
Founder/Principal
Borelli Architecture
Lake Tahoe / Truckee
jim@borelliarchitecture.com
775.831.3060

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