Incline Village & Crystal Bay Market Report — March 2026

The Incline Village and Crystal Bay market recorded 19 sales in March 2026, generating $65.1 million in total volume. The combined median sale price reached $1.8 million, reflecting the area’s luxury positioning. However, inventory levels remained elevated with 118 active listings available to buyers. This translated to 5.3 months of supply, indicating a relatively balanced market. Meanwhile, homes took a median of 146 days to sell, suggesting buyers maintained selectivity.

Single-family residences dominated activity with 11 transactions at a median of $2.76 million. Condominiums followed with 6 sales at a more accessible $710,000 median price point. Additionally, planned unit developments saw 2 sales at a $2.08 million median. Notably, inventory was split nearly evenly between single-family homes and condos, each with 55 active listings. As a result, buyers across all segments enjoyed meaningful choice in March.

The single-family market in March showed strong year-over-year gains despite monthly volatility. The median sale price reached $2,760,000, up an impressive 88.1% compared to March 2025. However, prices declined 32.7% from February’s elevated levels. Meanwhile, the average sale price hit $4,695,909, reflecting a 193.6% year-over-year surge driven by several high-end transactions.

Activity levels remained steady with 11 homes sold during the month. This represents a modest 10.0% increase year-over-year but a 15.4% decline from February. Additionally, new listings jumped 25.0% month-over-month to 20 properties, marking a 42.9% increase from last March. As a result, active inventory climbed slightly to 55 homes, while months of supply tightened to 4.5 months.

Notably, homes took longer to sell in March compared to recent months. The median days on market increased 139.3% to 146 days, suggesting buyers exercised more caution. On the other hand, the sale-to-list ratio remained solid at 94.4%, indicating sellers still commanded strong pricing power. In contrast to the monthly dip, total sales volume reached $51.7 million, up 223.0% year-over-year as luxury transactions drove overall market strength.

The condominium market showed mixed signals in March, with the median sale price dropping to $710,000, down 29.0% from February. However, the average sale price of $1.55M remained elevated, suggesting a few high-end transactions skewed the mix. Meanwhile, 6 units closed during the month, down 14.3% from February and 25.0% below last March’s activity. Notably, total sales volume reached $9.3M, up 27.8% year-over-year despite fewer transactions.

On the supply side, inventory conditions shifted noticeably as spring approached. Active listings climbed to 55 units, up 3.8% from the prior month. Additionally, new listings surged 63.6% month-over-month to 18 properties, signaling increased seller activity. As a result, months of supply rose to 6.6 months, up 15.8% from February but still 21.4% below last year’s level.

Properties are taking longer to sell, with median days on market jumping to 200.5 days, up 108.9% from February. In contrast, buyers remain willing to negotiate close to asking prices, with a sale-to-list ratio of 98.3%. Meanwhile, the median price per square foot climbed to $839, up 31.1% month-over-month and 26.0% year-over-year. Given the small sample size of 6 sales, these metrics may fluctuate considerably in coming months.

The Planned Unit Development segment recorded just 2 sales in March 2026, yielding limited data for analysis. However, the median sale price reached $2.08M, reflecting a modest 1.9% decline from February but a robust 19.9% increase year-over-year. Meanwhile, the average sale price of $2.08M climbed 28.7% compared to March 2025. Notably, transaction volume dropped 60.0% year-over-year, signaling considerably less buyer activity than last spring.

Inventory conditions shifted slightly as active listings rose to 8 units, up 14.3% month-over-month. As a result, months of supply increased to 4.8 months, suggesting a more balanced market environment. Additionally, homes spent a median of 93 days on market, up 26.5% from February and nearly double the 97.9% surge year-over-year. The sale-to-list ratio held steady at 96.0%, indicating sellers still captured most of their asking prices despite longer marketing times.

On the other hand, new listings declined sharply to just 2 properties, down 33.3% from February and 66.7% year-over-year. Total sales volume reached $4.16M, falling 48.5% compared to March 2025. Given the small sample size, these metrics remain highly volatile and may not reflect broader trends. Nevertheless, the year-over-year price appreciation suggests continued demand for PUD properties, even as transaction velocity slows considerably.

Looking ahead to the spring and summer months, Incline Village’s market should benefit from typical seasonal momentum. Historically, April through August brings increased buyer activity as families plan relocations and second-home purchasers seek summer properties. However, the current inventory of 118 active listings and 5.3 months of supply suggests a relatively balanced market. Sellers may face modest pricing pressure, particularly in the condo segment where supply remains elevated at 6.6 months. Meanwhile, single-family homes with their tighter 4.5-month supply should hold pricing power more effectively.

For buyers, the coming months present opportunities to negotiate, especially on properties with extended days on market. The median 146 days on market indicates sellers are becoming more realistic about pricing. Additionally, the 95.7% sale-to-list ratio confirms that successful transactions require competitive but measured offers. Investors should monitor whether spring demand tightens supply or if new listings offset seasonal upticks. On the other hand, sellers entering the market now can capitalize on peak buying season while managing expectations around the 13.0% month-over-month price softening observed in March.