Market Update
Crystal Bay Market Report: Q3 2026
How did the Crystal Bay real estate market perform in Q3 2026? Crystal Bay, Nevada recorded one sale in Q3 2026, a $10,650,000 lakefront condominium at Stillwater Cove. A lakefront home is under contract at $12,250,000, and nine properties are listed, from $1,099,000 to $45,000,000.
Crystal Bay is a small market, with only a handful of sales in a typical year, so read any one quarter alongside sales from the past year. Most of its value sits on the lake, from Stillwater Cove condominiums to estates along Gonowabie Road, with a smaller set of homes, condominiums and lots off the water.
This report covers every Crystal Bay sale, pending deal and active listing, per Incline Village MLS data. For the full market picture, see my Q3 2026 market update, and for lakefront across both towns, see my Q3 2026 lakefront report.
Q3 2026 at a Glance
| Measure | Crystal Bay |
|---|---|
| Closed sales | 1 |
| Sale price | $10,650,000 |
| Under contract | 2 |
| Active listings | 9 (5 lakefront, 4 off the lake) |
The Quarter’s Sale: Stillwater Cove #47
Stillwater Cove, at 120 State Route 28, is Crystal Bay’s lakefront condominium complex. Unit #47 sold for $10,650,000 after 111 days on market. At $2,649 per square foot, it carried the highest price per square foot of any sale in Incline Village or Crystal Bay this quarter.
Three other Stillwater Cove units are listed at $3,750,000 to $5,950,000. #47 has a significantly larger floor plan at 4,020 square feet, probably the most privacy and lake views in the complex, and the most updated interior of the group.
Under Contract Heading Into Q4
500 Gonowabie Road: $12,250,000. This 1952-built lakefront home of 3,224 square feet went under contract after 58 days. It has a pier, a boathouse and a buoy, though the pier appears to be rock crib construction and will likely need to be rebuilt. From the street, the home has only a parking pad, stairs and a funicular down to the house. I expect the next owner to scrape it and rebuild with a street-level entry and garage, stacking three or more stories down toward the lake. At this price, a rebuild makes sense.
360 Wassou Road: $950,000 (lot). This lot off the lake went under contract after 43 days.
Active Listings
| Address | Type | List Price | Sq Ft | Year Built | Days on Market |
|---|---|---|---|---|---|
| 580 Gonowabie Rd | Lakefront home | $45,000,000 | 9,976 | 2008 | 97 |
| 250 Northlake Cir | Lakefront home | $16,900,000 | 3,017 | 1975 | 70 |
| 475 Tuscarora Rd | Home | $9,405,000 | 5,436 | 2007 | 61 |
| 120 State Route 28 #37 (Stillwater Cove) | Lakefront condo | $5,950,000 | 2,735 | 1980 | 150 |
| 120 State Route 28 #6 (Stillwater Cove) | Lakefront condo | $4,375,000 | 1,726 | 1980 | 353 |
| 120 State Route 28 #24 (Stillwater Cove) | Lakefront condo | $3,750,000 | 1,810 | 1980 | 22 |
| 1 Big Water Dr #A301 | Condo | $3,700,000 | 2,432 | 2018 | 41 |
| 436 State Route 28 | Lot | $1,700,000 | n/a | n/a | 83 |
| 4 Calaneva #14 | Condo | $1,099,000 | 1,626 | 1999 | 111 |
Five of the nine listings are on the lake. Off the water, 475 Tuscarora Road, a 2007 home, is the highest listing at $9,405,000.
The Cal Neva and the Biltmore
Two major redevelopment projects sit at the heart of Crystal Bay, and they’re moving at different speeds.
The Cal Neva is being redeveloped as a Proper resort, and its progress is a real step forward for the area. The Tahoe Biltmore is a different story. When that project looked more promising, there was more positive talk about Crystal Bay, but it still faces financing challenges, and it’s unclear when it will move ahead. I think the Cal Neva’s progress could make the Biltmore project more achievable over time, but likely not for a number of years.
My post on the Tahoe Biltmore redevelopment covers what it could mean for property values.
What This Means for You
If you’re selling in Crystal Bay, a single quarter won’t give you many comparable sales. Pricing depends on comparing your frontage, privacy, access and condition against sales from the past year or more. My post on Crystal Bay selling timing explains why preparation and pricing matter more here than the season.
If you’re buying, Crystal Bay offers a few rare choices right now, including three Stillwater Cove units side by side and lakefront homes on Gonowabie Road and Northlake Circle. Access and pier condition are worth close attention. My guide to what pier rights actually mean covers what to verify, and TRPA’s mooring registry shows registered buoys.
My Crystal Bay neighborhood page covers the area in more detail.
Frequently Asked Questions
How many homes sold in Crystal Bay, NV in Q3 2026?
What is Stillwater Cove in Crystal Bay?
How will the Cal Neva and Biltmore projects affect Crystal Bay?
Thinking About Crystal Bay?
If you’re weighing a purchase or sale in Crystal Bay, I’m glad to walk through recent sales and what’s coming to market with you. Call me at 775-558-9540 or reach out here.
About the Author: Hayden Haffey is an Incline Village resident and Realtor specializing in the hyper-local submarkets of the Nevada North Shore. With a background in family consultancy, Hayden prioritizes an educational, data-driven approach over high-pressure sales, helping clients navigate the complexities of Lake Tahoe real estate with clarity and intentionality. When he isn’t analyzing market trends, you’ll likely find him skiing, mountain biking, or enjoying the lake with his wife and two daughters.
Hayden Haffey, Global Real Estate Advisor, Sierra Sotheby’s International Realty
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