Incline Village & Crystal Bay Market Report — May 2026

The Incline Village and Crystal Bay market recorded 28 sales in May 2026, generating $87.7 million in total volume. The combined median sale price reached $2,015,338, reflecting the area’s premium lakeside positioning. Single-family residences dominated activity with 19 transactions at a median of $2.51 million. Meanwhile, condominiums contributed 7 sales at a more accessible $1.03 million median. Additionally, 2 PUD sales closed at a median of $1.325 million.

Inventory levels remain elevated with 166 active listings across all property types. This translates to 7.2 months of supply, indicating a balanced-to-buyer-favorable market. Properties spent a median of 66 days on market before going under contract. Notably, condominiums now represent the largest inventory segment with 82 active listings, surpassing single-family homes at 74 units. As a result, buyers in the condominium segment may find increased selection and negotiating opportunities heading into summer.

The single-family market delivered a strong May performance with 19 sales, up 35.7% from April. However, the median sale price dipped 3.5% month-over-month to $2.51M. Meanwhile, the year-over-year picture remains robust, with median prices climbing 20.4% and transaction volume surging 111.1%. Total sales volume reached $70.8M, marking a 243.1% increase compared to May 2025.

Inventory conditions continue to favor sellers despite recent supply growth. Active listings rose 19.4% to 74 homes, yet months of supply sits at just 5.8 months—down 46.8% year-over-year. Additionally, homes are moving faster than ever, with median days on market falling to 45 days, a 36.2% drop from April. The sale-to-list ratio held steady at 96.7%, indicating sellers are still capturing near-asking prices.

On the other hand, new listing activity surged 34.6% to 35 properties, providing buyers with more choices. As a result, the median price per square foot jumped 17.0% to $942, reflecting continued demand for quality inventory. Notably, the average sale price of $3.73M suggests several high-end transactions closed during the month. Buyers entering this market should expect competitive conditions but may find opportunities as inventory gradually expands.

The condominium market showed mixed signals in May, with the median sale price reaching $1,030,000, down 6.4% from April but still up 5.1% year-over-year. Meanwhile, the average sale price surged to $2,027,143, jumping 46.1% month-over-month and 77.7% annually. This divergence suggests that higher-end condo sales drove the average upward. However, transaction volume slowed with just 7 sales recorded, down 36.4% from the prior month.

Inventory dynamics shifted noticeably as active listings climbed to 82 units, up 20.6% from April. Additionally, new listings surged 55.0% month-over-month to 31 units, the highest influx in recent months. As a result, buyers gained more selection despite months of supply decreasing slightly to 10.3 months. Notably, properties took longer to sell, with median days on market rising 65.5% to 91 days.

On the other hand, pricing power remained relatively stable with a sale-to-list ratio of 97.3%. In contrast, the median price per square foot jumped 15.1% to $845, suggesting continued strength in well-positioned properties. For buyers, the expanding inventory and longer market times may create negotiating opportunities heading into summer.

The Planned Unit Development segment recorded just 2 sales in May, resulting in volatile metrics typical of small sample sizes. Nevertheless, the median sale price jumped to $1,325,000, up 82.8% month-over-month but down 2.7% year-over-year. Meanwhile, the median price per square foot climbed 24.9% to $808, suggesting the properties that closed commanded premium pricing relative to April’s transactions.

On the other hand, homes moved quickly in May. The median days on market dropped sharply to 39 days, down 51.2% from April and 70.3% lower than a year ago. Additionally, sellers received 96.8% of their asking price on average, holding steady month-over-month. However, with active inventory at 10 units and months of supply at 4.3, buyers have reasonable selection without the pressure of an overly tight market.

Notably, new listings surged to 6 units in May, double the year-ago count and matching April’s pace. As a result, the pipeline appears healthy heading into summer. However, given the small transaction volume, prospective buyers and sellers should interpret month-to-month swings cautiously and focus on broader trends over the coming months.

Looking ahead to the summer months, buyers and sellers should anticipate continued robust activity. Historically, June through August represent peak season for Lake Tahoe real estate. However, the current 7.2 months of supply suggests a more balanced market than in recent years. Single-family homes will likely remain competitive, given their 5.8-month supply and brisk 45-day median market time. Meanwhile, condo buyers may find greater negotiating leverage with 10.3 months of inventory available. The strong 96.8% sale-to-list ratio indicates sellers can still command near-asking prices with proper positioning.

For investors and second-home buyers, the seasonal surge in tourism and rental demand makes early summer an opportune entry point. Additionally, inventory typically expands through July before tapering in fall. As a result, buyers who act in the next 60-90 days will have maximum selection before the traditional autumn slowdown. Sellers, on the other hand, should capitalize on the current momentum by listing before late August. Overall, market fundamentals point to sustained activity through summer, with price appreciation moderating from May’s exceptional 61.4% year-over-year gain as comparisons normalize.