Things are pretty status quo for us near the lake (for both snow and market conditions). Our market in Incline Village has seen yet another month with an average sales price above $2M - there's been steady movement in the market from last month.
Signs have shown, both locally and nationally, that high-end buyers are getting back in the game. They know that now is the time to get in while the competition is low, rates have trended downwards and there is negotiation space. The week ending 2/4/23, the reported percentage of asking price received was 87.4% - showing the kind of negotiating ability that buyers have.
New listings are down -20%, putting strain on the existing inventory, and making pricing your property right from the start that much more important. If it isn't priced right from day one, you risk having it sit on the market without an offer. Seasonality will be making its way into our market shortly, so we'll see how spring and summer play out.