Incline Village / Crystal Bay Market Report – January 2021

January median home sold price hits $2M! January sales down more than half.


Single-family homes

January home sales pulled back sharply from December’s end-of-year home sale rally. 17 SFRs sold in January. That number was down 55.3 percent from December’s 38 homes sold.

Year-over-year, January sales were down 10.5 percent.

DOM (days on market) edged up to 75 days — adding 1 day to December’s number.

Available inventory remains very low. Presently only 26 SFRs are available for purchase. Of these 26 properties, only 8 (or 30.8 percent) are priced at or below the current median sales price of $2M.

That being said home buyers are still purchasing. 31 homes are currently under contract and pending sale. Expect February and March monthly sales to come in at significantly higher year-over-year totals.

As mentioned above, January’s median sales price came in at $2,000,000 — a substantial 15.9 percent jump over December’s median sales price of $1,725,000.

Year-over-year, December’s median sales price is up a whopping 33.3 percent. The demand for luxury homes is showing no signs of slowing — see Luxury Demand — Opulent Homes Selling in Nevada

January’s median sold PPSF (price per square foot) was $821.11/sq.ft. — up 34.0 percent over December $612.78/sq.ft. Year-over-year, December’s median sold PPSF is up 71.8 percent.

Condo/Townhomes

13 condos and townhomes sold in January — down 35.0 percent from the 20 sold in November; however condo sales were unchanged year-over-year.

January’s median sales price for condos/townhomes came in at $750,000 — pulling back 2.6 percent from December’s record-setting high median sales price.

Year-over-year, January’s median condo sales price was up and incredible 76.5 percent.

January’s median sold PPSF for condos/townhomes was $536.50/sq.ft. — a 4.3 percent increase over December’s number; and a whopping 48.0 percent year-over-year increase.

January’s median DOM for condos/townhomes was 53 days — a decrease of seven days from November’s 60 DOM number; and also down 32 days year-over-year.

As always, thank you for reading the blog. I welcome your questions or comments below.


Related: Two Lake Tahoe neighborhoods make list for the top 100 priciest zip codes in the US

Click here to see Incline Village and Crystal Bay homes for sale


Data courtesy of the Incline Village REALTORS® – February 8, 2021. Note: This information is deemed reliable, but not guaranteed.

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About Guy Johnson

I am a licensed Nevada REALTOR® (lic.# S.0075262.LLC) living and working in fabulous Reno, Nevada. I cover Reno, Sparks, Incline Village, Carson City, and beyond. Give me a call at 775-722-4011 and I will be happy to assist you with your real estate needs. I'm your Guy!
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