Incline Village / Crystal Bay Market Report – February 2023

Incline Village / Crystal Bay home sales and median sales price remain well below year-over-year numbers.

February saw only 11 properties sold: 5 SFRs; and 6 condo/townhomes.

While seasonal factors are at play, these numbers are less than half the sales seen in February 2022. Last year, 26 properties (14 SFRs and 12 condo/townhomes) were sold in February. Cumulatively, February 2023 home and condo sales are down 57.7 percent, year over year!

Incline Village / Crystal Bay’s housing market remains in a “Buyer’s Market”, with February’s “months supply inventory” coming in at 9.0.

Single-family homes

Please note, with only 5 SFR sales for the month, the data is very “thin”, so take these metrics with a grain of salt.

February’s median sales price for the Incline Village and Crystal Bay, NV housing market dropped precipitously — falling to $1,500,000. This number represents a 38.5 percent decline from January’s median sales price of $2,440,000. Year-over-year, February’s median sales price is down 38.0 percent.

February’s median sold PPSF (price per square foot) fell to $585.38/sq.ft. — a 13.1 percent decrease from January’s median sold PPSF.

Year-over-year, February’s median sold PPSF was down 39.9 percent.

As mentioned at the top, February home sales came in with only 5 homes sold for the month — down 64.3 percent, year-over-year.

Median days on market (DOM) came in at a whopping 232 DOM — more than doubling January’s 103 DOM.

Available inventory decreased by 1 home in February, and is currently sitting at 45 properties. The 45 SFRs currently available for purchase represents a 2.2 percent decrease from this time last month. Year-over-year, available inventory is down 18.2 percent.

The 45 SFRs currently available for purchase represents a 9.0 months supply of inventory (MSI).

Currently, only 8 homes are pending sale. For context, year-over-year, pending sales are down 60.0 percent. Expect March home sales to be low.


Condo/townhome sales rose in February. 6 condos and townhomes sold in February — one more than January’s five condo and townhome sales.

However, year-over-year, February’s condo/townhome sales were down 50.0 percent!

February’s median sales price for condos/townhomes fell to $800,000 — an 11.1 percent decrease from January’s median sales price of $900,000. Year-over-year, February’s median sales price for condo/townhomes is unchanged.

February’s median sold PPSF for condos/townhomes fell to $636.53/sq.ft. — down 13.0 percent from January’s sold PPSF number, and down 5.5 percent year-over-year.

February’s median DOM for condos/townhomes came in at 185 days — adding 74 additional days to January’s 111 DOM number.

There are currently 26 condo/townhomes listed as available for purchase. This number represents a 4.3 months supply of inventory (MSI) based off of February’s six sales.

There are only 4 pending condo/townhome sales at the moment. This number is down 63.6 percent from the pending condo/townhomes this time last year. Expect March condo sales to be dismally low.

Click here to see Incline Village and Crystal Bay homes for sale

Data courtesy of the Incline Village REALTORS® – March 6, 2023. Note: This information is deemed reliable, but not guaranteed.

Leave a Reply

Your email address will not be published. Required fields are marked *