Price reductions abound! Sales surge! Housing market swings back to “Balanced”
SFRs
June 2025’s SFR sales came in at 17 homes sold—seven more than May’s sales. Year-over-year, June sales were up a remarkable 142.9%!
After trailing 2024’s unit sales for much of the year, 2025’s YTD unit sales now surpass 2024’s H1 unit sales.
June’s median sales price for SFRs fell to $1,750,000—a 3.0% decrease month-over-month. Year-over-year, June’s median sales price is down 40.5%. Much of this price decline is driven by the unprecedented number of price reductions in the market.
The median list price for SFR homes in June 2025 was $1,815,000, yielding a sold-to-list price ratio of 96.4%.
June’s median DOM (days on market) came in at 48 days. This number is a noteworthy 61 days fewer than May’s median DOM of 109 days. However, June’s DOM is 19 days longer than June 2024’s median DOM of 29 days.
Available inventory sits at 112 SFRs for sale—a 14.3% increase over last month’s available SFRs; and a 12.0% increase over this time last year.
With sales substantially up June’s MSI (months supply of inventory) has receded to a 6.6 months supply—reflective of a more “Balanced Market”.
Pending sales currently sit at 16 listings under contract—unchanged from this time last month, but 10 fewer than this time last year. Pending sales represent homes that have accepted offers and are under contract, but the sale has not closed.
Condo/Townhomes
Turning to the condo/townhome market, a noteworthy 16 condos/townhomes sold in June. This number is more than double May’s 7 condo/townhome sales, and is 6 more than June 2024’s sales.
The median sales price for condos/townhomes fell to $1,005,000 in June. That number represents a 2.9% decrease from May’s condo median sales price; however, it is down 6.1% year-over-year.
The median list price for condo/townhomes in June 2025 was $1,037,000—resulting in a sold-to-list price ratio of 96.9%.
June’s median DOM (days on market) climbed to 84 days for the month. For comparison, May’s condo DOM was 39 days, and June 2024’s median DOM was 72 days.
Available inventory sits at 89 condo/townhomes for sale—1 fewer than this time last month, but up 20.3% year-over-year.
As observed with SFRs, the increasing condo/townhome unit sales are resulting in a declining MSI (months supply of inventory). June’s MSI currently sits at a 5.6 months supply—again, indicating a “Balanced Market”.
Pending sales currently sit at 19 listings—unchanged from this time last month; and 11 more than this time last year.
June’s data for Incline Village and Crystal Bay reveals a complex but intriguing market. While the significant rebound in sales, particularly for single-family homes, is a positive sign of buyer activity, the pervasive price reductions and declining median prices underscore a continued adjustment from peak values. Both SFRs and condo/townhomes are now squarely in a ‘Balanced Market,’ suggesting a more equitable environment for both buyers and sellers. As we head into the peak summer season, the interplay between increasing inventory, buyer demand driven by value opportunities, and the persistent influence of price adjustments will define the market’s trajectory.
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Data courtesy of the Incline Village REALTORS® and its Multiple Listing Service as of July 11, 2025. Note: This information is deemed reliable, but not guaranteed.