Incline Village & Crystal Bay Market Report — February 2026

The Incline Village and Crystal Bay market posted 22 sales in February 2026, generating $122.1 million in total volume. The combined median sale price reached $2,070,000, reflecting the area’s luxury positioning. Meanwhile, active inventory stood at 114 listings, translating to 5.1 months of supply. This indicates a relatively balanced market condition. Notably, properties spent a median of 73.5 days on market before going under contract.

Single-family residences dominated activity with 13 transactions at a median price of $4,100,000. In contrast, condominiums delivered 7 sales at a more accessible $1,000,000 median. Additionally, planned unit developments recorded 2 sales with a median of $2,120,000. The segment split reveals strong demand across price points. However, buyers at the luxury end continue to drive the highest transaction values in this Lake Tahoe resort community.

The single-family market roared back to life in February with 13 sales closing, up 85.7% from January’s slower pace. Meanwhile, the median sale price surged to $4.1M, a dramatic 160.3% jump month-over-month. This spike reflects a shift toward higher-end transactions rather than broad market appreciation. Notably, the average sale price climbed even more steeply to $8.2M, up 170.7%, indicating several ultra-luxury closings drove February’s $106.5M in total volume.

However, properties are moving faster despite the elevated price points. The median days on market fell to just 61 days, down 32.2% from January. Additionally, homes sold at 95.9% of list price on average, up 3.8 percentage points month-over-month. On the other hand, inventory remains relatively tight with 54 active listings translating to 4.8 months of supply. As a result, sellers maintained strong negotiating position throughout the month.

Looking ahead, fresh inventory arrived with 16 new listings hitting the market, up 77.8% from January. In contrast to the sales surge, year-over-year comparisons show even more dramatic growth, with transaction counts up 160.0% and total volume soaring 590.7%. Notably, the median price per square foot reached $1,065, reflecting sustained buyer demand for premium lakefront and ski-access properties. Buyers should expect continued competition for well-priced listings as spring market momentum builds.

The condominium market showed renewed activity in February, with 7 sales closing at a median price of $1,000,000. This represents a 7.0% increase from January’s median, though prices remain 4.8% below year-ago levels. Notably, the average sale price surged 77.4% month-over-month to $1,619,286, driven by several higher-end transactions. Meanwhile, total sales volume reached $11.3 million, more than doubling January’s performance.

Inventory conditions continued to shift in favor of buyers. Active listings climbed 10.4% to 53 units, while pending sales dropped 28.6% from the prior month. As a result, months of supply increased 35.7% to 5.7 months, signaling a more balanced market. However, properties are moving faster than in recent months. The median days on market fell sharply to 96 days, down 59.0% from January.

Sellers maintained pricing power despite rising inventory, with homes selling at 95.4% of list price on average. Additionally, new listings held steady at 11 units, matching January’s pace but up 37.5% year-over-year. The median price per square foot reached $640, climbing 4.7% month-over-month. Overall, February’s data suggests a stabilizing market with improving liquidity for both buyers and sellers.

The Planned Unit Development segment recorded 2 sales in February 2026, matching the prior month’s activity. However, with such a small sample size, individual transactions heavily influence overall metrics. The median sale price reached $2.12M, up 5.0% month-over-month and 1.6% year-over-year. Meanwhile, the median price per square foot climbed to $840, reflecting a 6.1% gain from January.

Notably, properties moved faster this month, with the median days on market falling to 73.5 days—a 26.5% improvement from January. Additionally, homes sold at 96.3% of list price, up 4.2 percentage points month-over-month. This suggests sellers maintained strong pricing power despite limited transaction volume. On the other hand, the sale-to-list ratio dipped slightly year-over-year, down just 0.1%.

Inventory conditions remained relatively stable, with 7 active listings unchanged from January and 4.2 months of supply holding steady. In contrast, new listing activity surged, with 3 properties entering the market—a 200% jump month-over-month. As a result, buyers may see modestly expanded choices in the coming weeks, though the PUD segment typically experiences volatility given its limited inventory pool.

Looking ahead to spring, buyers and sellers can expect increased activity as the market enters its traditionally busiest season. Historically, March through June brings stronger demand to Lake Tahoe’s north shore. Meanwhile, inventory levels should continue rising as more owners list properties to capture spring interest. The current 5.1 months of supply suggests a relatively balanced market. However, luxury single-family homes under 5 months of supply may still favor sellers in desirable locations.

For buyers, the coming months offer opportunity as selection expands with new listings. Notably, condos with 5.7 months of supply provide more negotiating leverage than single-family homes. Sellers should prepare now to maximize spring momentum, as properties listed in March typically see stronger buyer engagement. Additionally, investors watching the 95.8% sale-to-list ratio can expect pricing to remain firm but realistic. As a result, well-priced properties in move-in condition should continue attracting serious offers through the spring selling season.