The Incline Village / Crystal Bay, Nevada housing market in April 2023 saw an increase in home sales and median sales prices, alongside an increase in median days on the market (DOM) compared to the previous month. The available inventory and pending sales remained stable.
In April 2023, a total of 7 homes were sold, showing a 40% increase from the previous month (March 2023). The median sales price also increased by 27.3% to $2,800,000, while the median sold price per square foot (PPSF) increased by 13% to $917.16. The median DOM increased by 219.4% to 115 days. Available inventory and pending sales remained stable at 48 and 10, respectively.
The median list price for homes in April 2023 was $2,800,000, and the sold-to-list price ratio was 100%, indicating that homes were selling for their asking price on average.
When comparing year-over-year (YoY) data, there was a 61.1% decrease in homes sold, and a 21.7% increase in the median sales price. The median sold PPSF fell by 7.0%, while the median DOM increased by 219.4%.
Overall, the housing market in April 2023 showed signs of growth, with increased sales and higher median sales prices compared to both the previous month and the previous year.
The condo/townhome market experienced a decrease in median sales prices compared to the previous month. However, the market showed an improvement in condos sold, median days on the market (DOM), and available inventory.
A total of 5 condos/townhomes were sold in April 2023, marking a 25% increase compared to the previous month (March 2023). The median sales price dropped by 44.7% to $770,000, while the median sold price per square foot (PPSF) fell by 10.7% to $779.97. The median DOM decreased significantly by 74.1% to 35 days. The available inventory increased to 28 (up 47.4%), and pending sales remained stable at 13.
The median list price for condos/townhomes in April 2023 was $799,000, and the sold-to-list price ratio was 96.4%, indicating that on average, condos/townhomes sold slightly below their asking price.
Comparing year-over-year (YoY) data, there was a 58.3% decrease in the number of condos/townhomes sold, while the median sales price decreased by 28.0%. The median sold PPSF increased by 9.6%, and the median DOM decreased by 58.3%.
Overall, the condo/townhome market in April 2023 experienced a decline in median sales prices compared to both the previous month and the previous year. However, there were improvements in the number of condos sold, median DOM, available inventory, and pending sales, indicating potential future growth in the market.
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Data courtesy of the Incline Village REALTORS® – May 7, 2023. Note: This information is deemed reliable, but not guaranteed.