Median home sales price pulls back in February from January’s record high; Pending sales rise
Single-family homes
February’s median sales price for Incline Village, NV fell to $2,417,500 — a 38.4 percent decrease from January’s median sales price of $3,925,000. Year-over-year, February’s median sales price was up 9.9 percent.
February’s median sold PPSF (price per square foot) fell to $973.85/sq.ft. — a 9.2 percent decrease from January’s median sold PPSF.
Year-over-year, February’s median sold PPSF was up 38.4 percent!
February home sales climbed to 14 homes sold for the month — up a remarkable 133.3 percent over January’s 6 home sales; and down 41.7 percent year-over-year from the Coronavirus Pandemic-fueled record sales rush experienced this time last year.
Median days on market (DOM) remained essentially unchanged in February — adding just one day to January’s 65 DOM!
Available inventory increased from this time last month — up 44.7 percent. Year-over-year, available inventory is up a noteworthy 162 percent. The 55 SFRs currently available for purchase represents a 3.9-month supply of inventory.
Pending sales also increased for the month. Currently, 20 homes are pending sale — a 53.8 percent increase from this time last month. The Spring home buying season is upon us.
Year-over-year, pending sales are down 28.6 percent from the Coronavirus Pandemic-fueled record sales rush experienced time last year.
Condo/Townhomes
12 condos and townhomes sold in February — a decrease of 25.0 percent from January’s 16 condo and townhome sales.
Year-over-year, February’s sales were down 7.7 percent.
February’s median sales price for condos/townhomes rose slightly to $800,000 — a 0.6 percent increase over January’s median sales price of $795,000.
Year-over-year, February’s median sales price for condos/townhomes was up 10.3 percent.
February’s median sold PPSF for condos/townhomes remained essentially unchanged at $673.68/sq.ft. — down 0.1 percent from January’s sold PPSF number, and up 22.2 percent year-over-year.
February’s median DOM for condos/townhomes fell to 41 days — a decrease of 32 days from January’s 73 DOM number.
There are currently 17 condo/townhomes listed as available for purchase. This number represents just about a 1.5-month supply of inventory based off of February’s sales.
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Data courtesy of the Incline Village REALTORS® – March 20, 2022. Note: This information is deemed reliable, but not guaranteed.
