SFR sales tick up; Condo inventory surges!
SFRs
April 2025’s SFR sales came in at 12 homes sold—two more than the number of SFRs sold in March. Year-over-year, April sales were up 50%. The spring home buying season is in full effect!
April’s median sales price for SFRs climbed to $2,095,000—an increase of 42.8% month-over-month. Year-over-year, however, April’s median sales price is down 46.1%.
The median list price for SFR homes in April 2025 was $2,324,500, yielding a relatively lower sold-to-list price ratio of 90.1%.
April’s median DOM (days on market) came in at 120 days on market. This number is 79 days fewer than March’s median DOM of 199 days. April’s DOM is also 61 days fewer than April 2024’s median DOM of 181 days.
Available inventory sits at 67 SFRs for sale—ten more than this time last month; and 10 more than this time last year.
April’s MSI (months supply of inventory) currently sits at 5.6 months supply—reflective of a “Balanced market”.
Pending sales currently sit at 11 listings under contract—unchanged from this time last month; and 1 more 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, 6 condos/townhomes sold in April. This number is 2 fewer than March’s 8 condo/townhome sales; and is down 50.0% year-over-year.
The median sales price for condos/townhomes rose to $940,000 in April. That number represents a 9.3% increase over March’s condo median sales price; however is down 9.7% year-over-year.
The median list price for condo/townhomes in April 2025 was $985,000—resulting in a sold-to-list price ratio of 95.4%.
April’s median DOM (days on market) jumped to a relatively lengthy 139 DOM for the month. For comparison, March’s condo DOM was 59 days, and April 2024’s median DOM was 86 days.
Available inventory sits at a whopping 73 condo/townhomes for sale—up 23.7% over this time last month; and up 108.6%, year-over-year.
April’s MSI (months supply of inventory) currently sits at 12.2 months supply—indicating a “Buyer’s market”.
Pending sales currently sit at 12 listings—2 more than this time last month; and 3 more than this time last year.
April 2025 in the Incline Village/Crystal Bay market presents a fascinating divergence. While the single-family home sector experienced a slight uptick in sales and maintains a balanced status, the condo/townhome market has undergone a significant shift towards a buyer’s market due to a substantial increase in inventory. Interestingly, despite this inventory surge, the median sales price for condos/townhomes still saw an increase. The notably shorter days on market for single-family homes suggest continued demand in that segment. As the spring season progresses, these contrasting trends will offer distinct advantages and challenges for buyers and sellers in each property type within the Incline Village/Crystal Bay real estate landscape. Keeping a close eye on inventory and sales activity will be crucial in the coming months.
Thinking of selling your Incline Village / Crystal Bay property and looking for guidance in the current market? Or, considering taking advantage of the market’s current buying opportunities? Schedule a consultation with us to obtain personalized advice on your real estate goals.
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Data courtesy of the Incline Village REALTORS® and its Multiple Listing Service as of May 9, 2025. Note: This information is deemed reliable, but not guaranteed.
