April median home sold price up 180% year-over-year!
Single-family homes
April’s median sales price came in at $2,450,000 — up 16.7 percent month over month, and up a staggering 180.0 percent year-over-year.
Keep in mind though, that this time last year home prices were greatly depressed due to the Coronavirus pandemic. Look for the magnitude of year-over-year appreciation to begin to subside in May.
April’s median sold PPSF (price per square foot) was $845.88/sq.ft. — up 6.2 percent over March’s $796.27/sq.ft. Year-over-year, April’s median sold PPSF is up 102.6 percent.
April home sales came in at 20 homes sold for the month. This number represents a 13.0 percent decrease from March’s 23 sales; but a whopping 185.7 percent year-over-year increase.
Again, this time last year home sales were greatly depressed due to the Coronavirus pandemic — hence the huge year-over-year increase.
DOM (days on market) fell to 46 days — a decrease of 19 days from March’s DOM.
Available inventory remains very low. Presently only 25 SFRs are available for purchase — or just over a one-month supply of inventory. Of these 25 available properties, only 10 (or 40.0 percent) are priced at or below the current median sales price of $2.45M.
Pending sales are down for the month. Currently, 18 homes are pending sale. That number is down 37.9 percent from March.
Condo/Townhomes
17 condos and townhomes sold in April — down 10.5 percent from the 19 sold in March. However, like observed with SFR sales, condo sales were up greatly year-over-year — coming in at an incredible 750.0 percent above last year’s number.
April’s median sales price for condos/townhomes came in at $770,000 — a 4.3 percent decrease from March’s $805,000 median sales price.
Year-over-year, April’s median condo sales price was up 26.4 percent.
April’s median sold PPSF for condos/townhomes was $571.90/sq.ft. — a 0.3 percent increase over March’s number; and up 60.7 percent year-over-year.
April’s median DOM for condos/townhomes was 42 days — a decrease of 4 days from March’s 46 DOM number; and down 37 days year-over-year.
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Data courtesy of the Incline Village REALTORS® – May 16, 2021. Note: This information is deemed reliable, but not guaranteed.
