November SFR sales remain strong!
SFRs
November 2024’s SFR sales came in at 13 homes sold—though a (likely seasonal) pullback of 48% from the number of SFRs sold in October. Year-over-year, November sales are up 18.2%.
November’s median sales price for SFRs declined to $1,960,000—an 8.8% month-over-month decrease; however, up 0.5%, year-over-year.
The median list price for SFR homes in November 2024 was $2,098,000, yielding a sold-to-list price ratio of 93.4%.
November’s median DOM (days on market) came in at 84 days on market. For comparison, October’s median DOM was 117 days, and November 2023’s median DOM was 97 days.
Available inventory sits at 68 SFRs for sale—17 fewer than this time last month; however, up 9.7% year-over-year.
November’s MSI (months supply of inventory) currently sits at 5.2 MSI—indicating a “Balanced” market.
Pending sales currently sit at 14 listings under contract—two greater than this time last month; and unchanged from this time last year.
Condo/Townhomes
Turning to the condo/townhome market, 9 condos/townhomes sold in November. This number is six fewer than October’s 15 condo/townhome sales; and is down 18.2% year-over-year.
The median sales price for condos/townhomes rose to $994,000 in November. That number represents a 28.7% increase over October’s condo median sales price; however, is down 4.4% year-over-year.
The median list price for condo/townhomes in November 2024 was $1,085,000—resulting in a sold-to-list price ratio of 91.6%.
November’s median DOM (days on market) came in at 92 DOM for the month. For comparison, October’s DOM was 132 days, and November 2023’s median DOM was 37 days.
Available inventory sits at 44 condo/townhomes for sale—down 12.0% from this time last month; however, up 25.7%, year-over-year.
November’s MSI (months supply of inventory) currently sits at 4.9 MSI—indicating a “Balanced” market.
Pending sales currently sit at 9 listings—7 fewer than this time last month; however up 125.0% year-over-year.
As winter approaches, the Incline Village/Crystal Bay real estate market continues to demonstrate resilience and adaptability. With steady sales, a balanced market, and opportunities emerging for both buyers and sellers, now is an opportune time to consider your next move in the market. Stay informed and prepared with up-to-date insights as you navigate real estate ventures in this dynamic landscape.
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 December 8, 2024. Note: This information is deemed reliable, but not guaranteed.
