Incline Village & Crystal Bay Market Report — April 2026

The Incline Village and Crystal Bay market recorded 28 sales in April 2026, generating $69.9 million in total volume. The combined median sale price reached $1,305,000 across all property types. Meanwhile, active inventory stood at 140 listings, translating to 7.6 months of supply. Homes typically sold in 70.5 days, reflecting a balanced market environment. Notably, single-family residences commanded the highest prices at a median of $2.6 million.

Condominiums represented the most active segment with 11 transactions at a median of $1.1 million. Single-family homes followed closely with 14 sales, while planned unit developments saw 3 sales at a median of $725,000. Inventory distribution favored condos with 68 active listings, compared to 62 single-family homes and 10 PUDs. As a result, buyers enjoyed meaningful selection across price points and property types this spring.

The single-family residential market showed strong activity in April, with 14 sales closing during the month. This represents a 27.3% increase from March and a 16.7% gain year-over-year. Meanwhile, the median sale price reached $2.6M, down 5.8% month-over-month but still up an impressive 24.1% compared to April 2025. Total sales volume climbed to $52.5M, reflecting robust buyer demand despite the market’s seasonal transition.

Inventory conditions continued to favor sellers, though the balance is gradually shifting. Active listings rose 12.7% to 62 homes, while new listings surged 50% year-over-year to 24 properties. As a result, months of supply increased to 6 months, up 33.3% from March but still down 40% from last year. Notably, homes moved faster this April, with median days on market dropping 51.7% to just 70.5 days.

Pricing dynamics remained competitive, with sellers capturing 96.4% of list price on average. However, the median price per square foot fell 19% month-over-month to $805, suggesting a shift in the mix of properties sold. Additionally, the gap between median and average sale prices widened significantly, indicating that higher-end transactions pulled the average to $3.75M. Buyers entering the market may find more selection and slightly longer negotiation windows as spring inventory builds.

The condominium market surged in April, with 11 sales representing an 83.3% jump from March. However, the median sale price of $1.1M climbed 54.9% month-over-month, reflecting a shift toward higher-end units. Notably, the average sale price of $1.39M remained elevated despite a 10.7% monthly decline. Total sales volume reached $15.26M, up 121.0% year-over-year, signaling robust buyer activity.

Meanwhile, properties moved significantly faster in April compared to March. The median days on market dropped 72.6% to just 55 days, while average DOM fell 41.8% to 106 days. Additionally, the sale-to-list ratio held steady at 97.4%, indicating sellers maintained pricing power. On the other hand, active inventory increased 23.6% to 68 units, pushing months of supply up to 11.3 months.

In contrast, pending inventory plunged 64.3% month-over-month, suggesting April’s sales spike may have absorbed much of the buyer pool. As a result, new listings rose only 11.1% to 20 units, down 42.9% from last year. Buyers may find more negotiating leverage in the coming months as inventory levels stabilize and demand moderates.

The Planned Unit Development segment recorded 3 sales in April 2026, with a median sale price of $725,000. However, this represents a dramatic 65.1% month-over-month decline and a 64.6% year-over-year drop. Notably, the small sample size—fewer than 5 transactions—makes these metrics highly volatile and less representative of broader trends. Meanwhile, the 3-month rolling average median price of $1.64M provides a more stable view of typical pricing in this segment.

On the supply side, active inventory climbed to 10 units, up 25% from March. Additionally, new listings surged 200% month-over-month to 6 properties, signaling increased seller activity. As a result, months of supply now stands at 5 months, indicating a more balanced market. In contrast, properties sold relatively quickly, with a median 80 days on market, down 14% from the prior month.

Sellers achieved a 96.8% sale-to-list ratio, up slightly from March and 6.8% higher year-over-year. However, the median price per square foot fell to $647, down 13.5% month-over-month. Consequently, buyers in this segment may find more negotiating leverage as inventory expands. Nevertheless, the limited transaction count means individual sales can significantly skew monthly metrics.

As we move into the peak spring and summer season, buyers can expect continued opportunities across all price points. Inventory levels remain healthy at 140 active listings, providing solid selection. However, the spring selling season typically brings renewed buyer activity to Lake Tahoe. As a result, the current 7.6 months of supply may tighten in coming weeks. Buyers who act decisively could secure favorable terms before competition intensifies.

Meanwhile, sellers entering the market should price strategically to capitalize on seasonal momentum. The 96.8% sale-to-list ratio suggests buyers remain price-conscious despite increased activity. Properties priced competitively are moving in approximately 70 days. Notably, the luxury single-family segment shows stronger demand fundamentals with just 6 months of supply. On the other hand, condos face softer conditions at 11.3 months of supply. Investors should watch for summer performance indicators, as sustained transaction volume above 28 monthly sales would signal a firming market heading into fall.