Let's take a look at what's happening with Incline Village real estate market.
The number of new listings is dropping. There are currently 215 active listings of houses, condos and townhomes. "Absorption rate" is a calculation that shows how long it would take to sell all properties currently on the market if no new listings came up. A "neutral" market is 6 months, so anything over that is a buyer’s market. The absorption rate is 6.25 months for all listings in Incline. However, there are many segments in the market so it is more important to know the absorption rate for each individual segment when discussing average time on market to a completed sale.
When compared to the previous year our list of available single family homes went down 6%, 125 single family homes for sale in 2016 compared to 133 available in 2015. If we compare this number to the 2014 (150 homes) we are down 17%.