SFRs
The Incline Village / Crystal Bay, Nevada housing market in June 2023 saw an increase in home sales, as well as a substantial increase in the median sales price. June also saw an increase in median days on the market (DOM) compared to the previous month. The available inventory and pending sales also saw increases.
In June 2023, a total of 10 homes were sold, showing an 11.1% increase over the previous month (May 2023). The median sales price rose by a whopping 38.5% to $3,497,000, while the median sold price per square foot (PPSF) increased by 34.4% to $1,108.42. The median DOM added 4 days to come in at 49 days. Available inventory and pending sales each saw increases in June — coming in at 82 and 19 properties, respectively.
The median list price for homes in June 2023 was $3,520,000, and the sold-to-list price ratio was 99.3%. Three properties sold at list price.
When comparing year-over-year (YoY) data, there was a 11.1% increase in homes sold, and a 39.9% increase in the median sales price. The median sold PPSF fell by 3.3%, while the median DOM increased by 51.4%.
MSI (months supply of inventory) rose to 8.2 MSI.
Overall, the housing market in June 2023 showed relatively stronger sales and a substantial increase in the median sales price.
Condo/Towhomes
The condo/townhome market experienced a healthy increase in median sales prices compared to the previous month, however a decrease in the number of condos sold. Available inventory and pending sales also saw increases in June. Median days on the market (DOM) dropped substantially compared to the previous month.
9 condos/townhomes were sold in June 2023, marking a 25% decrease compared to the previous month (May 2023). The median sales price increased by 12.1% to $975,000, while the median sold price per square foot (PPSF) rose by 7.0% to $670.50. The median DOM dropped by 35.1% to 50 days. Available inventory increased to 38 condo/townhomes (up 11.8%), and pending sales doubled to 16 (up 100%).
The median list price for condos/townhomes in June 2023 was $975,000, and the sold-to-list price ratio was 100.0%, indicating that on average, condos/townhomes sold at their asking prices.
Comparing year-over-year (YoY) data, there was a 40.0% decrease in the number of condos/townhomes sold, while the median sales price is down by 23.0%. The median sold PPSF fell by 16.2%, and the median DOM fell by 5.7%.
Overall, the condo/townhome market in June 2023 experienced month-over-month increases in median sales prices, median sold PPSF, available inventory, and pending sales. Units sold were down for the month, and also down year-over-year.
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Data courtesy of the Incline Village REALTORS® – July 10, 2023. Note: This information is deemed reliable, but not guaranteed.
