December home sales close out the year strong!
SFRs
December 2024’s SFR sales came in at 17 homes sold—a 30.8% increase over the number of SFRs sold in November. Year-over-year, December sales were up 88.9%.
December’s median sales price for SFRs rose to $2,125,000—an 8.4% month-over-month increase. Year-over-year, December’s median sales price is up 36.7%.
The median list price for SFR homes in December 2024 was $2,350,000, yielding a sold-to-list price ratio of 90.4%.
December’s median DOM (days on market) came in at 110 days on market. For comparison, November’s median DOM was 84 days, and December 2023’s median DOM was 51 days.
Available inventory sits at 50 SFRs for sale—18 fewer than this time last month; and 1 fewer than this time last year.
December’s MSI (months supply of inventory) currently sits at 2.9 MSI—reflective of a “Seller’s” market.
Pending sales currently sit at 8 listings under contract—six fewer than this time last month; and seven fewer from this time last year.
Condo/Townhomes
Turning to the condo/townhome market, 11 condos/townhomes sold in December. This number is two more than November’s 9 condo/townhome sales; and is up 175.0% year-over-year.
The median sales price for condos/townhomes rose to $1,050,000 in December. That number represents a 5.6% increase over November’s condo median sales price; however, is down 45.8% year-over-year.
The median list price for condo/townhomes in December 2024 was $998,000—resulting in a sold-to-list price ratio of 105.2%.
December’s median DOM (days on market) came in at 118 DOM for the month. For comparison, November’s DOM was 92 days, and December 2023’s median DOM was 12 days.
Available inventory sits at 35 condo/townhomes for sale—down 20.5% from this time last month; however, up 16.7%, year-over-year.
December’s MSI (months supply of inventory) currently sits at 3.2 MSI—indicating a “Seller’s” market.
Pending sales currently sit at only 2 listings—7 fewer than this time last month; and down 75.0%, year-over-year.
Incline Village and Crystal Bay closed out 2024 with a strong December for residential real estate. While single-family homes saw significant increases in sales and prices, the condo/townhome market showed a more mixed picture. With inventory remaining low overall, the market continues to favor sellers. Stay tuned for future reports as we track market trends in 2025!
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Data courtesy of the Incline Village REALTORS® and its Multiple Listing Service as of January 6, 2024. Note: This information is deemed reliable, but not guaranteed.
