Median home sales price pulls back a bit in March; Condo/Townhouse median sales sets new all-time high!
Single-family homes
March’s median sales price for Incline Village, NV receded to $2,322,500 — a 39.4 percent decrease from February’s median sales price of $2,417,500. Year-over-year, March’s median sales price was up 10.6 percent.
March’s median sold PPSF (price per square foot) fell to $817.11/sq.ft. — a 16.1 percent decrease from February’s median sold PPSF.
Year-over-year, March’s median sold PPSF was up 2.6 percent!
March home sales rose to 16 homes sold for the month — up 14.3 percent over February’s 14 home sales; and down 30.4 percent year-over-year.
Median days on market (DOM) fell to 57 days in March — a decrease of 9 days off of February’s 66 DOM.
Available inventory decreased from this time last month — down 32.7 percent. Year-over-year, available inventory is up 48.0 percent. The 37 SFRs currently available for purchase represents a 2.3-month supply of inventory.
Pending sales increased for the month. Currently, 23 homes are pending sale — a 15.0 percent increase from this time last month. The Spring home buying season is upon us.
Year-over-year, pending sales are down 20.7 percent.
Condo/Townhomes
12 condos and townhomes sold in March — unchanged from February’s 12 condo and townhome sales.
Year-over-year, March’s sales were down 36.8 percent.
March’s median sales price for condos/townhomes rocketed to $1,125,000 — setting an all-time high for condo / townhome prices. March’s number is 40.6 percent increase over February’s median sales price of $800,000.
Year-over-year, March’s median sales price for condos/townhomes was up 39.8 percent.
March’s median sold PPSF for condos/townhomes climbed to $817.03/sq.ft. — up 21.3 percent over February’s sold PPSF number, and up 43.3 percent year-over-year.
March’s median DOM for condos/townhomes fell to 36 days — a decrease of 5 days from February’s 41 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 March’s sales.
Click here to see Incline Village and Crystal Bay homes for sale
Data courtesy of the Incline Village REALTORS® – April 7, 2022. Note: This information is deemed reliable, but not guaranteed.
