As predicted, Nevada continues to see big growth in real estate sales.
February sales indicate the continuation of strong growth trends, as single-family home sales in Incline Village and Crystal Bay, NV saw a 300% increase year over year. Additionally, the median price increased 46%, and the number of homes currently in contract increased 140%. Significantly, all this growth is occuring while inventory remains relatively flat, decreasing only 5% from 105 homes actively listed in February 2017 to 100 homes actively listed for sale in 2018.
As Californians see increased taxes, residents look to relocate to tax-friendlier states. With no income tax and a plethora of corporate benefits, our neighboring state continues to draw interest from Californians seeking tax shelter. In January, we saw a 40% increase in the sales of single-family homes in Inline Village & Crystal Bay, NV.
