Let's take a look at what's happening with the Incline Village real estate market.
The overall real estate market is excellent at this time and we are still low on inventory. There are 226 active listings of houses, condos and townhomes currently on the market. This represents 6.81 - month supply of properties available for sale. A "neutral" market is considered 6 months of inventory and any less is a seller's market, and any more is a buyer's market. So, basically at the moment we have a buyer's market for houses (9.24 months) and a seller's market for condos (5.17 months). However, it is important to break it down further into various segments of the market. For example, if we are to look at single family homes/towmhomes, there is just 4.85 month supply of houses left under $1 million but 18.5 months of supply in the $2,000,000 to $4,000,000 price range.
Despite the lack of available inventory the Incline Village real estate market is still going strong with our median home/townhome price increased by 11% ($1,095,000) when compared to last years median price (983,750).
