Incline Village & Crystal Bay Market Report — January 2026

The Incline Village and Crystal Bay market opened 2026 with 14 total sales in January. The combined median sale price reached $1,435,000 across all property types. Meanwhile, active inventory stood at 112 listings, translating to 4.1 months of supply. This represents a relatively balanced market condition for the luxury Lake Tahoe community.

Single-family homes led transaction activity with 7 sales at a median price of $1,575,000. Condominiums followed with 5 sales at a median of $935,000, while planned unit developments recorded 2 sales at $2,020,000. Properties took a median of 110 days to sell during the month. Total sales volume reached $29.8 million, reflecting typical winter season activity in this resort market.

The single-family market opened 2026 with typical post-holiday softness, recording just 7 sales in January. This represents a sharp 58.8% decline from December’s busier pace. However, year-over-year comparisons remain encouraging, with sales up 40.0% versus January 2025. The median sale price settled at $1,575,000, down 30.6% month-over-month but still 15.0% higher than a year ago. Meanwhile, the average sale price of $3,027,857 reflects several high-end transactions closing during the month.

Inventory conditions held relatively steady with 57 active listings on the market. Months of supply ticked up slightly to 4.0 months, suggesting a balanced market environment. Notably, homes are taking longer to sell than in recent months, with median days on market reaching 90 days. Additionally, the sale-to-list ratio of 92.4% indicates modest price negotiation is occurring. Sellers received an average of $815 per square foot, up 26.6% from last January.

On the other hand, new listing activity remained muted with only 7 properties coming to market. This marks a 46.2% decline from the prior January, reflecting typical winter seasonality. As a result, total sales volume reached $21.2 million for the month. Buyers may find more selection as spring approaches, when inventory traditionally expands.

The condominium market experienced a notable slowdown in January, with just 5 sales closing at a median price of $935,000. This represents a sharp 61.5% decline from December’s activity, though year-over-year sales remained 66.7% higher than January 2025. Meanwhile, median prices fell 6.5% month-over-month and 17.6% year-over-year, signaling softer pricing conditions entering the new year.

Inventory dynamics shifted in buyers’ favor as active listings climbed to 48 units, up 23.1% year-over-year. As a result, months of supply increased to 4.2 months, up 27.3% from last January. Additionally, properties sat on the market considerably longer, with median days on market reaching 234 days—a dramatic 1,460% surge year-over-year. However, the sale-to-list ratio of 94.1% suggests sellers maintained reasonable pricing discipline despite longer marketing periods.

Notably, new listings surged 120% month-over-month to 11 properties, providing buyers with expanded selection. On the other hand, the median price per square foot held relatively steady at $611, up 12.3% year-over-year. Consequently, buyers entering the market may find increased negotiating leverage as inventory expands and properties take longer to sell, particularly for condos priced above the three-month rolling average of $947,500.

The Planned Unit Development segment recorded just 2 sales in January 2026, generating $4.04 million in total volume. With such a small sample size, individual transactions heavily influence the metrics. However, the median sale price of $2,020,000 reflects a remarkable 139.1% year-over-year increase, signaling sustained upward pricing momentum in this niche market. Meanwhile, the median price per square foot climbed to $792, up 23.0% compared to January 2025.

Notably, properties took longer to sell this month, with median days on market reaching 100 days—a 38.9% increase from December. Additionally, the sale-to-list ratio of 92.4% suggests buyers negotiated modest discounts, down 7.6% year-over-year. As a result, sellers may need to price competitively to attract offers in this slower-paced winter market.

On the supply side, 7 active listings translated to 4.2 months of inventory—a relatively balanced market condition. Only 1 new listing came to market in January, matching the prior year’s pace. In contrast, the three-month rolling average shows 1.7 sales per month, indicating modest but steady transaction activity. Buyers in this segment may find more negotiating leverage as inventory remains stable heading into early 2026.

Looking ahead, buyers can expect more balanced conditions as spring inventory arrives in the coming months. The current 4.1 months of supply sits near equilibrium, suggesting neither buyers nor sellers hold overwhelming leverage. However, seasonal patterns typically bring increased listings in February and March. As a result, buyers may find expanded selection and slightly more negotiating room. Meanwhile, the 93.1% sale-to-list ratio indicates sellers should price strategically rather than aggressively. Properties lingering beyond 110 days may require price adjustments to capture serious interest.

For investors, the 26.4% year-over-year median price gain reflects strong underlying demand in this luxury Lake Tahoe market. Notably, single-family homes continue moving faster than condos, with median days on market of 90 versus 234 days. Seasonal activity typically accelerates through spring and summer as buyers seek vacation properties. Therefore, well-priced homes in desirable locations should attract multiple showings. On the other hand, patience will be essential for sellers of higher-end or less differentiated properties. Overall, expect a moderately active market with selective buyers prioritizing quality and location over urgency.