SFR sales pop! Condo/townhome inventory surges nearly 50%!
SFRs
March 2025’s SFR sales came in at 10 homes sold—double the number of SFRs sold in February. Year-over-year, March sales were up 25%. The spring home buying season has begun!
March’s median sales price for SFRs pulled back to $1,467,500—a 42.5% month-over-month decrease. Year-over-year, March’s median sales price is down 40.9%.
The median list price for SFR homes in March 2025 was $1,555,000, yielding a sold-to-list price ratio of 94.4%.
March’s median DOM (days on market) came in at 199 days on market. This number adds an additional 95 days to February’s median DOM of 104 days, and is unusually high. March’s DOM is also 101 days greater than March 2024’s median DOM of 98 days.
Available inventory sits at 57 SFRs for sale—6 more than this time last month; and 11 more than this time last year.
March’s MSI (months supply of inventory) currently sits at 5.7 months supply—reflective of a “Balanced market”.
Pending sales currently sit at 11 listings under contract—unchanged from this time last month; and 2 greater than this time last year. Pending sales represent homes that have accepted offers and are under contract, but the sale has not closed.
Condo/Townhomes
Turning to the condo/townhome market, 8 condos/townhomes sold in March. This number is 1 more than February’s 7 condo/townhome sales; however is down 11.1% year-over-year.
The median sales price for condos/townhomes pulled back to $860,000 in March. That number represents an 18.1% decrease from February’s condo median sales price; however is up 22.9% year-over-year.
The median list price for condo/townhomes in March 2025 was $885,000—resulting in a sold-to-list price ratio of 97.2%.
March’s median DOM (days on market) came in at 53 DOM for the month. For comparison, February’s DOM was 101 days, and March 2024’s median DOM was 163 days.
Available inventory sits at 59 condo/townhomes for sale—up a whopping 47.5% over this time last month; and up 84.4%, year-over-year.!
March’s MSI (months supply of inventory) currently sits at 7.4 months supply—indicating a “Balanced” market.
Pending sales currently sit at only 10 listings—2 more than this time last month; and unchanged, year-over-year.
March 2025 reveals a market experiencing a notable uptick in single-family home sales, signaling the anticipated spring surge in buyer activity. While median SFR prices have adjusted downward, the increased sales volume and a shift towards a balanced market suggest a dynamic environment. Conversely, the condo/townhome market, despite a slight dip in sales and median price, is marked by a significant surge in available inventory—however still maintaining balanced territory. As we move further into the spring buying season, these trends will be crucial to watch, offering both opportunities and considerations for buyers and sellers in the Incline Village/Crystal Bay market. Stay tuned for updates as the market continues to unfold.
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Data courtesy of the Incline Village REALTORS® and its Multiple Listing Service as of April 9, 2025. Note: This information is deemed reliable, but not guaranteed.
