Median home sales price pulls back in December; Days on market rockets rockets 121%
Single-family homes
December’s median sales price for Incline Village, NV fell to $1,844,000 — a 16.4 percent decrease from November’s median sales price of $2,205,000. Year-over-year, December’s median sales price was up 6.9 percent.
Despite the decrease in median sales price, December’s median sold PPSF (price per square foot) rose to $832.66/sq.ft. — a 6.6 percent increase over November’s median sold PPSF.
Year-over-year, December’s median sold PPSF was up nearly 35.9 percent!
December home sales fell to 16 homes sold for the month — down 40.7 percent from November’s 27 home sales; and down a whopping 57.9 percent year-over-year from the Coronavirus Pandemic-fueled record sales rush experienced this time last year.
Median days on market (DOM) rocketed to 104 days in December — a 121 percent increase over November’s 47 DOM!
Available inventory fell from this time last month — down 7.3 percent. Year-over-year, available inventory is relatively unchanged. The 38 SFRs currently available for purchase represents a 2.4-month supply of inventory.
Pending sales fell for the month. Currently, 12 homes are pending sale — a 14.3 percent decrease from this time last month. Year-over-year, pending sales are down a whopping 47.8 percent from the Coronavirus Pandemic-fueled record sales rush experienced time last year.
Condo/Townhomes
14 condos and townhomes sold in December — a decrease of 33.3 percent over November’s 21 condo and townhome sales.
Year-over-year, December’s sales were down 30.0 percent.
December’s median sales price for condos/townhomes climbed to $963,500 — a 4.7 percent increase over November’s median sales price of $920,000.
Year-over-year, December’s median sales price for condos/townhomes was up 25.1 percent.
December’s median sold PPSF for condos/townhomes rocketed to $702.14/sq.ft. — up 13.9 percent over November’s sold PPSF number, and up 30.9 percent year-over-year.
December’s median DOM for condos/townhomes was 63 days — a decrease of 22 days from November’s 85 DOM number.
There are currently 16 condo/townhomes listed as available for purchase. This number represents just over a 1-month supply of inventory based off of December’s sales.
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Data courtesy of the Incline Village REALTORS® – January 7, 2022. Note: This information is deemed reliable, but not guaranteed.
