Momentum cools from summer highs: sales step down, pricing holds mixed, inventory recedes
Single-Family Residences (SFRs)
| Homes Sold | 18 MoM -33.3% · YoY +38.5% |
|---|---|
| Median Sales Price | $1,988,750 MoM -26.3% · YoY -20.5% |
| Median Sold PPSF | $849.73 MoM -19.6% · YoY -18.6% |
| Median DOM | 65 |
| Available Inventory | 95 MoM -5.0% · YoY -2.1% |
| Pending Sales | 14 MoM -22.2% · YoY -33.3% |
| Median List Price | $2,062,500 |
| Sold-to-List Ratio | 96.4% |
| Months Supply (MSI) | 5.3 |
Condos / Townhomes
| Units Sold | 16 MoM -15.8% · YoY +14.3% |
|---|---|
| Median Sales Price | $787,500 MoM +1.6% · YoY -17.8% |
| Median Sold PPSF | $599.46 MoM -6.2% · YoY -18.6% |
| Median DOM | 45 |
| Available Inventory | 75 MoM -7.4% · YoY +23.0% |
| Pending Sales | 15 MoM -11.8% · YoY -11.8% |
| Median List Price | $865,000 |
| Sold-to-List Ratio | 91.0% |
| Months Supply (MSI) | 4.7 |
Single-Family Residences (SFRs)
SFR activity cooled notably from August’s surge, with fewer closings and a pullback in median price. That said, sellers still commanded a 96.4% sold-to-list ratio and marketing times didn’t lengthen—median DOM actually ticked down to 65 days. The most striking shift is inventory: it fell both month-over-month and year-over-year, which helped keep negotiating power from swinging decisively toward buyers even as closings retrenched. With a 5.3-month supply of homes, the market is trending toward balanced conditions. Net-net, SFRs remain seller-leaning but more price-sensitive as we move into fall.
Condos / Townhomes
The condo/townhome segment held volume better than SFRs and showed a slight uptick in MOM median price, however the sold-to-list ratio (91.0%) underscores buyer pushback on over-asking. Still, inventory compressed again, and DOM improved from August. Clean, updated units in prime locations continue to move, while dated listings need sharper pricing to compete.
Big Themes This Month
- Post-summer normalization: Both segments stepped off their summer stride. Both SFRs and condo/townhomes felt it most in units sold.
- Inventory contraction: Lower active counts in both segments blunted a deeper swing toward buyers.
- Marketing time steady-to-better: DOM improved MoM in both segments—buyers remain engaged when the value story is clear.
- Pricing discipline: Over-asking strategies are getting tested. Right-priced listings still secure solid results quickly.
What to Watch Next
- October/November closings: Does the retreat in SFR sales persist, or was September a one-month air pocket?
- Price adjustments: With fewer fall buyers than summer, look for targeted price cuts on stale inventory.
- Condo value plays: Expect continued buyer scrutiny on condition and HOA/amenities versus ask.
- Rate sentiment & seasonality: Mortgage rate moves and early winter conditions can sway second-home demand into year-end.
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Data courtesy of the Incline Village REALTORS® and its Matrix™ Multiple Listing Service as of October 8, 2025. All data deemed reliable but not guaranteed.