The 2025 real estate market in Incline Village and Crystal Bay was defined by stability, scarcity, and a continued shift from seasonal living to permanent roots. While total transactions remained below peak pandemic levels, sales increased year over year, reflecting steady demand in a market constrained by limited inventory - especially at lower price points.

Luxury activity remained a powerful force, with multiple record-setting sales and continued strength in the $4M–$42M range. At the same time, land sales surged, signaling long-term confidence in the community despite rising construction costs. Across neighborhoods, buyers demonstrated a willingness to act decisively, particularly when well-located homes with strong floor plans came to market.

Beyond the numbers, 2025 told a deeper story about Incline Village and Crystal Bay: a community evolving in response to national uncertainty, local change, and lifestyle-driven migration. More families are choosing Tahoe not just as a retreat, but as a place to build a future, reshaping the market and reinforcing the enduring appeal of North Shore living as we move into 2026.

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