The Incline Village and Crystal Bay market wrapped up December with a familiar Tahoe finish. Buyers stayed value-aware, yet they still moved quickly when the home felt right. Meanwhile, inventory tightened, so the market ended the year on a steadier note than many expected.
Incline Village / Crystal Bay Single-Family Homes
Key Stats – December 2025 (MoM & YoY)
| Metric | December 2025 | MoM | YoY |
|---|---|---|---|
| Median Sold Price | $2,270,000 | -15.9% | +6.8% |
| Median Sold Price / Sq Ft | $1,037.04 | +6.3% | +32.7% |
| Homes Sold | 17 | +70.0% | 0.0% |
| Median Days on Market | 96 | +7.9% | -12.7% |
| Months Supply of Inventory (MSI) | 3.4 | -56.4% | +17.2% |
MoM compares November 2025 to December 2025. YoY compares December 2024 to December 2025.
Single-family pricing cooled from November, which is common in a year-end market. Still, the median sold price finished at $2,270,000, up +6.8% year-over-year. Even more notably, the median price per square foot rose to $1,037.04 and is up +32.7% from last December.
At the same time, activity improved. Closings jumped to 17 for the month, while MSI tightened to 3.4 months. In other words, inventory ended the year leaner, which can support pricing when the right buyers step in.
Seller Pricing & Reductions
- Reductions were the norm this year: in 92% of the last 13 months, the median sold price came in below the median list price.
- Typical discount size: the median list-to-sold gap over the last 13 months was about $140,750.
- This month looked tighter: the median sold price was about $30,000 below the median list price (about 1.3%), with a median sold-to-list ratio of 98.7%.
Single-Family Charts (13 Months)
Incline Village / Crystal Bay Condos & Townhomes
Key Stats – December 2025 (MoM & YoY)
| Metric | December 2025 | MoM | YoY |
|---|---|---|---|
| Median Sold Price | $1,000,000 | +10.2% | -4.8% |
| Median Sold Price / Sq Ft | $598.66 | +19.4% | -13.9% |
| Condos/Townhomes Sold | 13 | +30.0% | +18.2% |
| Median Days on Market | 97 | -15.7% | -17.8% |
| Months Supply of Inventory (MSI) | 3.6 | -32.1% | +12.5% |
MoM compares November 2025 to December 2025. YoY compares December 2024 to December 2025.
The condo/townhome segment ended the year with more momentum. The median sold price rose to $1,000,000, up +10.2% from November. However, it remains slightly below last December, which highlights how much the mix of sales can shift from month to month in a smaller market.
What stands out most is the tightening inventory. MSI dropped to 3.6 months and sales increased to 13 for the month. As a result, buyers who want an attached home in a specific complex may need to move faster when a well-positioned unit hits the market.
Seller Pricing & Reductions
- Pricing adjustments were still common: in 69% of the last 13 months, the median sold price landed below the median list price.
- Typical discount size: the median list-to-sold gap over the last 13 months was about $45,000.
- This month was an outlier: the median sold price was about $190,000 below the median list price (about 16.0%), with a median sold-to-list ratio of 84.0%.
Condo/Townhome Charts (13 Months)
Closing Summary
December closed the year with tighter inventory in both segments, which is an important directional signal going into early 2026. Single-family prices eased from November but stayed higher than last year, while condos posted stronger month-over-month gains and improved sales volume. As winter settles in, the homes that show best and feel priced “on purpose” should keep earning the first tours.
Optional Narrative Notes
- Winter creates clarity: Tahoe buyers who shop in December and January often have real intent, so presentation and pricing discipline can pay off quickly.
- Inventory drives leverage: when MSI tightens, buyers lose some negotiating room, but they still push hard on homes that feel dated or over-positioned.
Data courtesy of the Incline Village REALTORS® and Matrix™ MLS. Data is deemed reliable but not guaranteed.