July median home (SFR) price pulls back; median condo price soars to over $1M!
July’s median sales price for Incline Village, NV came in at $1,854,000 — an 8.4 percent decrease from June’s median sales price of $2,047,500. Year over year, July’s median sales price is up a robust 35.7 percent.
Could we be seeing a consolidation in home prices?
July’s median sold PPSF (price per square foot) jumped to $875.69/sq.ft. — a new record high for this metric.
July’s PPSF was up 9.5 percent over June’s $799.70 PPSF, and up a whopping 73.7 percent year-over-year.
July home sales came in at 21 homes sold for the month — down 12.5 percent from June’s 24 home sales; and down a hefty 67.7 percent year-over-year from the Coronavirus Pandemic-fueled record sales rush experienced time last year.
Median days on market (DOM) rose to 39 days in July — an 8 day increase over June’s 31 DOM.
Available inventory decreased 8.3 percent from this time last month. The 55 SFRs currently available for purchase represents a little over a two-month supply of inventory.
Pending sales are up slightly for the month. Currently, 32 homes are pending sale. That number is up 10.3 percent over this time last month.
19 condos and townhomes sold in July — down 20.8 percent from June’s condo and townhome sales. Year over year, July’s sales were down 45.7 percent.
July’s median sales price for condos/townhomes came in at a staggering $1,015,000 — up 27.4 percent from June’s $850,000 median sales price.
Year-over-year, July’s median sales price for condos/townhomes is up 42.0 percent — setting a new record high for condo prices!
July’s median sold PPSF for condos/townhomes came in at $689.70/sq.ft. — also a new record. July’s number represents a 13.1 percent increase over June’s number, and a 45.6 percent year-over-year increase.
July’s median DOM for condos/townhomes was 41 days — a decrease of 6 days from June’s 47 DOM number; and 51 day decrease year over year.
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Data courtesy of the Incline Village REALTORS® – August 10, 2021. Note: This information is deemed reliable, but not guaranteed.