Median home sales price rockets 30% in November!
Single-family homes
November’s median sales price for Incline Village, NV shot up to $2,205,000 — a 29.7 percent increase over October’s median sales price of $1,700,000. Year-over-year, November’s median sales price was up 26.0 percent.
Also, of note, November saw a record-breaking sale of a $47.5M property!
Despite the increase in median sales price, November’s median sold PPSF (price per square foot) dropped to $780.90/sq.ft. — a 2.3 percent decrease from October’s median sold PPSF.
Year-over-year, November’s median sold PPSF was up 21.6 percent.
November home sales climbed to 27 homes sold for the month — up a whopping 200 percent over October’s 9 home sales; but down an incredible 18.2 percent year-over-year from the Coronavirus Pandemic-fueled record sales rush experienced this time last year. [It should be noted that the 9 home sales in October was inexplicably low for the month — so it appears that some of October sales may have gotten pushed into November.]
Median days on market (DOM) fell to 47 days in November — a 25-day decrease from October’s 72 DOM.
Available inventory fell from this time last month — down 8.9 percent. Year-over-year, available inventory is unchanged. The 41 SFRs currently available for purchase represents a 1.5-month supply of inventory.
Pending sales fell for the month. Currently, 14 homes are pending sale — a 46.2 percent decrease from this time last month. Year-over-year, pending sales are down a whopping 64.1 percent from the Coronavirus Pandemic-fueled record sales rush experienced time last year.
Condo/Townhomes
21 condos and townhomes sold in November — an increase of 10.5 percent over October’s 19 condo and townhome sales.
Year-over-year, November’s sales were down 16.0 percent.
November’s median sales price for condos/townhomes slipped to $920,000 — a 3.2 percent decrease from October’s median sales price of $950,000.
Year-over-year, November’s median sales price for condos/townhomes was up 31.4 percent.
November’s median sold PPSF for condos/townhomes came in at $616.67/sq.ft. — up 1.5 percent over October’s sold PPSF number, and up 33.1 percent year-over-year.
November’s median DOM for condos/townhomes was 85 days — an addition of 32 days over October’s 53 DOM number.
There are currently 23 condo/townhomes listed as available for purchase. This number represents just over a 1-month supply of inventory based off of November’s sales.
Click here to see Incline Village and Crystal Bay homes for sale
Data courtesy of the Incline Village REALTORS® – December 12, 2021. Note: This information is deemed reliable, but not guaranteed.
