🏡 Las Vegas Housing Market Update – January 2025
🚀 New Year, New Trends! What’s Happening in the Market?
January kicked off with record-breaking home prices, a surge in new listings, and shifting inventory levels. Whether you’re looking to sell for top dollar or find the best deal, here’s what’s shaping our market right now.
🔥 Market Snapshot
✅ 🏠 Home Prices Hit an All-Time Record – Median single-family home price reached $485,000 (all-time high! 🚀) (+2.1% MoM | +9.0% YoY).
✅ 📈 More Homes for Sale – 5,215 available homes (+5.0% MoM | +46.9% YoY).
✅ 📝 New Listings Are Surging – 3,130 new listings (+78.4% MoM | +28.7% YoY).
⚠ 📉 Sales Are Slowing – 1,578 homes sold (-12.9% MoM | +6.7% YoY).
⏳ 🏡 Homes Taking Longer to Sell – 47% sold within 30 days (down from 50.1% in December).
🏠 Single-Family Homes
- 📊 Median Price: $485,000 (All-Time Record! 🚀) (+2.1% MoM | +9.0% YoY)
- 🏡 Homes Sold: 1,578 (-12.9% MoM | +6.7% YoY)
- 📝 New Listings: 3,130 (+78.4% MoM | +28.7% YoY)
- 📦 Active Inventory: 5,215 (+5.0% MoM | +46.9% YoY)
- ⏳ Time on Market: 47% sold in <30 days
📢 What’s Happening?
📌 Prices broke records, hitting an all-time high of $485,000!
📌 Sales dipped 12.9% from last month, likely due to seasonality.
📌 Huge inventory increase suggests a more balanced market ahead.
💡 Sellers: More competition means pricing strategically is crucial.
💡 Buyers: More homes = more choices, but prices are still rising.
🏢 Condos & Townhomes
- 📊 Median Price: $293,000 (+1.0% MoM | +6.5% YoY)
- 🏡 Homes Sold: 413 (-11.4% MoM | -13.2% YoY)
- 📝 New Listings: 955 (+57.1% MoM | +22.3% YoY)
- 📦 Active Inventory: 1,896 (+7.5% MoM | +66.9% YoY)
- ⏳ Time on Market: 51.1% sold in <30 days
📢 What’s Happening?
📌 Condo inventory skyrocketed (+66.9% YoY) – biggest jump in the market.
📌 Sales dropped 13.2% YoY, meaning buyers are taking their time.
📌 Prices inched up but could stabilize if inventory keeps rising.
💡 Investors: More supply = negotiation power.
💡 First-time buyers: More listings & slower sales = better deals.
📊 What This Means for You
✅ Sellers: Prices are at record highs, but rising inventory means more competition.
✅ Buyers: More options, but prices are still climbing—act strategically.
✅ Investors: Watch the condo market—could be time to negotiate lower prices.
📢 Thinking of selling? Let’s talk about how to maximize your home’s value before the market shifts.
📲 Call/Text: 626-872-7457
Final Thoughts
📌 This market is shifting fast. More homes = more competition for sellers and better opportunities for buyers.
🏡 Sellers: List now before inventory rises even more.
📉 Buyers: Prices are still climbing—waiting could cost you.
📩 Have questions about your home’s value? Let’s chat! 👇
📲 DM me or Call/Text: 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update – December 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 2024 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
| Aug 2024 | $476,875 |
| Sep 2024 | $479,900 |
| Oct 2024 | $475,531 |
| Nov 2024 | $480,000 |
| Dec 2024 | $470,000 |
The Las Vegas housing market closed out 2024 with strong momentum, showing a mix of price stability, increased sales activity, and shifting inventory levels.
Home Prices Continue Upward Year-Over-Year
The median price for single-family homes in December 2024 was $475,000, slightly lower than $480,000 in November but up 5.6% from $449,900 in December 2023. This steady year-over-year growth indicates continued demand in the Las Vegas market despite month-to-month fluctuations.
Home Sales Surge in December
A total of 1,811 single-family homes sold in December 2024, marking a 10% increase from November and a 19.3% jump compared to December 2023. This surge suggests that buyers remained active despite the holiday season, possibly motivated by shifting interest rates or year-end opportunities.
Inventory Shifts: More Homes Available than Last Year
At the end of December, the market had 2.7 months of inventory, a 10.5% increase from December 2023. However, inventory dropped 18.9% from November, likely due to the increased sales volume. While this still favors sellers, the higher inventory compared to last year suggests a slow shift toward a more balanced market.
Homes Taking Longer to Sell
Market speed slowed slightly in December, with 50.1% of homes selling within 30 days, compared to 57.9% in November and 57.6% in December 2023. This could indicate a more selective buyer pool or seasonal market conditions influencing demand.
What This Means for Buyers & Sellers
For Buyers: Inventory remains relatively low, but with more homes available than last year, there may be more opportunities to negotiate. Acting quickly on well-priced homes is still essential in this competitive market.
For Sellers: While home prices remain strong, homes are taking slightly longer to sell. Pricing competitively and leveraging strong marketing strategies will be key in the coming months.
Las Vegas Condo & Townhome Market Update: December 2024
The Las Vegas condo and townhome market ended 2024 with steady price growth year-over-year, though there was a slight dip in prices compared to the previous month. Sales remained strong, and inventory levels indicate a more balanced market compared to previous years.
Median Price Trends
The median sales price for condos and townhomes in December dropped to $290,000, down from $301,250 in November. However, this still represents a 7.4% increase from December 2023, when the median price was $270,000. This year-over-year growth suggests a steady demand for condo and townhome living in Las Vegas.
Sales & Inventory Levels
In December, 466 condo and townhome units were sold, with 1,763 units available on the market to close out the year. This resulted in 3.8 months of inventory, indicating a market that is approaching more balanced conditions.
Market Speed: Homes Taking Slightly Longer to Sell
Of the units sold in December, 52.6% closed within 30 days, slightly lower than 52.9% in November, but up from 52.4% in December 2023. This suggests a steady, albeit slightly slower, pace for condo and townhome sales in Las Vegas.
What This Means for Buyers & Sellers
For Buyers: Inventory levels are improving, creating more opportunities to find the right home. However, demand remains steady, so being prepared to act quickly on well-priced properties is still important.
For Sellers: While prices remain strong year-over-year, properties are taking slightly longer to sell. Competitive pricing and strong marketing will be key to attracting buyers in the new year.
“Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update – November 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 2024 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
| Aug 2024 | $476,875 |
| Sep 2024 | $479,900 |
| Oct 2024 | $475,531 |
| Nov 2024 | $480,000 |
The Las Vegas real estate market saw an uptick in median home prices for single-family homes in November 2024. The median price rose to $480,000, up from $475,531 in October, and marking an increase from $450,000 in November 2023. This year-over-year growth highlights the ongoing demand and appreciation in the local market.
In terms of sales activity, 1,647 single-family homes were sold in November. While this reflects a 14.1% decrease compared to October, it represents a strong 14.8% increase from November 2023, indicating a resilient market even as the year winds down.
Inventory levels also saw a notable change. At the end of November, there were 3.4 months of inventory available, reflecting an 11.5% increase from November 2023 and a 12.1% rise compared to October. This shift signals a gradual balancing of supply and demand, offering buyers more options as the market evolves.
When it comes to market speed, 57.9% of single-family homes sold within 30 days or less in November. This is a slight dip from 58.9% in October and a more significant decline from 65.5% in November 2023, suggesting that homes are taking a bit longer to sell as inventory increases and buyer activity adjusts.
The Las Vegas market continues to show signs of strength with steady price growth and increased inventory, making it an interesting time for both buyers and sellers to navigate opportunities in this dynamic landscape.
Las Vegas Condo & Townhome Market Update: November 2024
The Las Vegas condo and townhome market experienced a slight dip in median prices for November 2024. The median sales price for units sold dropped to $301,250, down from $315,000 in October. However, compared to November 2023, when the median price was $275,000, the market still shows year-over-year growth.
Sales activity remained steady with 476 condos and townhomes sold during the month. By the end of November, there were 1,856 units available, translating to 3.9 months of inventory on the market. This reflects a balanced market, offering buyers and sellers more opportunities to explore their options.
When it comes to the speed of sales, 52.9% of all condos and townhomes sold within 30 days or less in November. This figure is lower than 59.4% in October and 67.1% in November 2023, suggesting that homes are taking slightly longer to sell as inventory rises and market conditions shift.
Despite the monthly dip in prices, the condo and townhome market in Las Vegas remains strong, with year-over-year appreciation and ample inventory creating opportunities for both buyers and sellers.
“Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -October 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
| Aug 2024 | $476,875 |
| Sep 2024 | $479,900 |
| Oct 2024 | $475,531 |
In October 2024, the median home price for single-family homes in Las Vegas reached $475,531, reflecting a slight decrease from $479,900 in September. However, this figure marks an increase compared to $449,000 in October 2023, highlighting steady year-over-year appreciation.
A total of 1,918 single-family homes were sold in October, representing a 7.1% increase from September and a 12.9% rise compared to October 2023. This uptick in sales activity indicates strong buyer demand in the market.
Inventory levels ended the month at 3 months of supply, a 21.6% increase from October 2023 but a slight 1% decrease from September, reflecting more available options for buyers while maintaining balanced conditions.
When it comes to speed of sales, 58.9% of single-family homes sold within 30 days or less in October. This is down from 61.5% in September and 67.2% in October 2023, suggesting that homes are taking slightly longer to sell as inventory rises.
The Las Vegas market remains resilient, with rising home values and strong sales activity creating opportunities for both buyers and sellers to make their next move.
Las Vegas Condo & Townhome Market Update: October 2024
The Las Vegas condo and townhome market saw a notable rise in median sales price in October 2024, climbing to $315,000, up from $299,500 in September. This also represents a significant year-over-year increase from $275,500 in October 2023, reflecting sustained appreciation in this segment.
A total of 540 condo and townhome units were sold in October, with 1,799 units available at month’s end. This translates to 3.3 months of inventory, indicating a balanced market.
In terms of sales speed, 59.4% of condos and townhomes sold within 30 days or less in October, slightly down from 59.9% in September and a more pronounced decline from 66.2% in October 2023. This reflects a gradual slowing in the pace of transactions as inventory grows and the market shifts.
With rising prices and steady inventory, the Las Vegas condo and townhome market continues to offer opportunities for both buyers and sellers to achieve their real estate goals.
“Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -September 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
| Aug 2024 | $476,875 |
| Sep 2024 | $479,900 |
The Las Vegas housing market saw a rise in the median sales price for single-family homes in September 2024, reaching $479,900, up from $476,875 in August. Compared to $450,000 in September 2023, this reflects steady year-over-year price appreciation.
A total of 1,791 single-family homes were sold in September, marking a 16.2% decrease from August and a slight 1.6% drop compared to September 2023. This dip in sales activity may signal a seasonal slowdown or changing buyer behavior.
Inventory levels continued to increase, with 3 months of supply available at the end of September. This represents a 36.5% year-over-year increase from September 2023 and a 23.7% rise compared to August, providing more options for buyers and contributing to a more balanced market.
When it comes to market speed, 61.5% of single-family homes sold within 30 days or less in September, down from 66.8% in August and 68% in September 2023. This suggests homes are taking slightly longer to sell as inventory levels rise.
The September housing market reflects a shift toward balance, with rising prices and growing inventory creating opportunities for buyers and sellers to navigate the market effectively.
Las Vegas Condo & Townhome Market Update: September 2024
The Las Vegas condo and townhome market experienced an uptick in median sales price in September 2024, rising to $299,500, up from $292,000 in August. This marks a significant year-over-year increase from $270,000 in September 2023, demonstrating continued appreciation in this market segment.
A total of 486 condo and townhome units were sold in September, while the market ended the month with 1,731 units available. This equates to 3.6 months of inventory, reflecting a balanced market with growing opportunities for buyers.
In terms of sales speed, 59.9% of condos and townhomes sold within 30 days or less in September, slightly down from 61.1% in August and a more substantial drop from 72% in September 2023. This slowdown indicates a shift as inventory grows and homes take longer to sell.
The Las Vegas condo and townhome market remains strong, with rising prices and increased inventory providing opportunities for both buyers and sellers to achieve their real estate goals.
“Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -August 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
| Aug 2024 | $476,875 |
In August 2024, the median sales price for single-family homes in Las Vegas was $476,875, showing a slight decrease from $480,000 in July. However, this represents an increase compared to $447,435 in August 2023, reflecting ongoing year-over-year price growth.
A total of 2,138 single-family homes were sold in August, a marginal decline of 0.3% from July but a 6.4% increase compared to August 2023, signaling a steady demand for homes in the area.
Inventory levels at the end of August were at 2.5 months of supply, a 27.5% increase from the same time last year and a 14.1% rise from July. This increase in available homes signals a shift toward a more balanced market.
When it comes to the speed of sales, 66.8% of single-family homes sold within 30 days or less in August, which is a slight decline from 69.9% in July and 69.8% in August 2023, indicating that homes are taking a little longer to sell.
Overall, the Las Vegas housing market continues to experience steady growth with increased inventory, providing opportunities for both buyers and sellers.
Las Vegas Condo & Townhome Market Update: August 2024
In August 2024, the median sales price for condos and townhomes in Las Vegas dropped slightly to $292,000, down from $296,000 in July. However, this represents an increase compared to $287,000 in August 2023, indicating steady year-over-year appreciation in this market segment.
A total of 573 condo and townhome units were sold in August, with 1,640 units available at the end of the month. This equates to 2.9 months of inventory, suggesting a balanced market with a healthy number of options for buyers.
In terms of sales speed, 61.1% of condos and townhomes sold within 30 days or less in August, which is a slight decrease from 61.6% in July and a more significant drop from 73% in August 2023, reflecting a gradual slowing of transactions as inventory increases.
Overall, the Las Vegas condo and townhome market remains strong, with rising prices and steady inventory levels offering opportunities for both buyers and sellers.
“Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -July 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
| July 2024 | $480,000 |
In July 2024, the median sales price for single-family homes in Las Vegas reached $480,000, up from $475,000 in June. This marks a solid increase compared to $450,000 in July 2023, reflecting continued price appreciation in the market.
A total of 2,145 single-family homes were sold in July, which is a 2.5% increase from June and a 5.1% rise from July 2023, indicating strong buyer demand.
Inventory levels ended the month with 2.2 months of supply, which is a 25.1% increase compared to July 2023 and a 9.9% rise from June, signaling more options for buyers.
In terms of speed, 69.9% of single-family homes sold within 30 days or less in July, down from 71.6% in June but an improvement over 68.7% in July 2023, suggesting homes are still selling relatively quickly despite the growing inventory.
Overall, the Las Vegas housing market shows steady growth, with rising prices and an increase in available inventory, creating a dynamic environment for both buyers and sellers.
Las Vegas Condo & Townhome Market Update: July 2024
Las Vegas Condo & Townhome Market Update: July 2024
The Las Vegas condo and townhome market experienced a slight increase in the median sales price in July 2024, rising to $296,000, up from $295,000 in June. This represents a significant year-over-year increase, up from $273,500 in July 2023, demonstrating continued appreciation in the sector.
A total of 619 condo and townhome units were sold in July, while inventory levels at the end of the month stood at 1,581 units, equating to 2.4 months of supply. This points to only a slightly more balanced market with ample opportunities for both buyers and sellers.
In terms of market speed, 61.6% of condos and townhomes sold within 30 days or less in July, which is a slight improvement from 61.5% in June but a decrease from 70.2% in July 2023, indicating a gradual slowdown in the pace of sales as inventory levels rise.
Overall, the Las Vegas condo and townhome market remains resilient, with rising prices and a stable supply of homes, offering attractive opportunities for those looking to buy or sell.
Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -June 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
| June 2024 | $475,000 |
In June 2024, the median sales price for single-family homes in Las Vegas reached $475,000, showing a modest increase from $473,000 in May. This marks a notable year-over-year rise from $440,990 in June 2023, indicating continued growth in home values.
A total of 2,093 single-family homes were sold in June, reflecting a 12.8% decrease from May and an 8.7% drop compared to June 2023. Despite the decline in sales volume, demand remains steady overall.
Inventory levels at the close of June stood at 2 months of supply, which is a 22.5% increase compared to June 2023 and a 22% rise from May, signaling a slight shift toward a more balanced market.
When it comes to sales speed, 71.6% of single-family homes sold within 30 days or less in June, up from 70.9% in May and a significant improvement over 65.5% in June 2023, indicating that homes are still selling relatively quickly despite the increase in available inventory.
Overall, the Las Vegas housing market continues to show resilience, with rising prices and inventory levels providing opportunities for both buyers and sellers.
Las Vegas Condo & Townhome Market Update: June 2024
In June 2024, the median sales price for condos and townhomes in Las Vegas held steady at $295,000, unchanged from May. However, this represents a solid year-over-year increase from $275,000 in June 2023, reflecting continued growth in this segment of the market.
A total of 605 condo and townhome units were sold in June, while inventory levels at the end of the month stood at 1,367 units, translating to 2.3 months of supply. This suggests a balanced market with sufficient inventory for prospective buyers.
In terms of sales speed, 61.5% of condos and townhomes sold within 30 days or less in June, which is a decrease from 64.9% in May and 65.9% in June 2023, indicating a slight slowing in the pace of transactions as inventory increases.
Overall, the Las Vegas condo and townhome market remains stable with rising prices and steady inventory levels, presenting ongoing opportunities for both buyers and sellers.
Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -May 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
| May 2024 | $473,000 |
In May 2024, the median sales price for single-family homes in Las Vegas rose to $473,000, a modest increase from $469,000 in April. Compared to May 2023, this represents a significant gain from the median price of $442,120, highlighting continued growth in home values.
A total of 2,401 single-family homes were sold in May, reflecting a 2.7% increase from April and a 3.7% rise from May 2023, signaling steady buyer demand.
Inventory levels ended the month with 1.9 months of supply, marking a 2.4% increase from May 2023 and an 8.4% rise from April. This suggests that while inventory is rising, it remains relatively low, creating favorable conditions for sellers.
In terms of sales speed, 70.9% of single-family homes sold within 30 days or less in May, up from 68.5% in April and a significant improvement from 60.6% in May 2023, indicating that homes are selling faster as demand remains strong.
Overall, the Las Vegas housing market continues to show positive trends, with increasing home values and a healthy pace of sales, making it a dynamic environment for both buyers and sellers.
Las Vegas Condo & Townhome Market Update: May 2024
In May 2024, the median sales price for condos and townhomes in Las Vegas increased to $295,000, up from $290,000 in April. This represents a solid year-over-year gain from $275,000 in May 2023, reflecting continued price appreciation in this segment of the market.
A total of 690 condo and townhome units were sold in May, while inventory levels at the end of the month stood at 1,324 units, translating to 1.9 months of supply. This indicates a relatively tight market with limited inventory.
In terms of sales speed, 64.9% of condos and townhomes sold within 30 days or less in May, down slightly from 66.2% in April but up from 62.1% in May 2023, showing a slight slowdown in the pace of transactions compared to earlier in the year.
Overall, the Las Vegas condo and townhome market remains strong, with rising prices and low inventory, providing continued opportunities for both buyers and sellers in this dynamic market.
Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -April 2024
| Month | Las Vegas Median Home Prices – 2024 YTD |
| Jan 204 | $445,000 |
| Feb 2024 | $460,000 |
| March 2024 | $465,000 |
| April 2024 | $465,000 |
In April 2024, the median sales price for single-family homes in Las Vegas reached $469,000, marking an increase from $465,000 in March. This represents a $39,000 gain compared to April 2023, when the median price was $430,000, reflecting continued appreciation in home values year-over-year.
A total of 2,339 single-family homes were sold in April, a 12.3% increase from March and a 19.2% rise from April 2023, signaling strong buyer demand and a healthy sales pace in the market.
Inventory levels tightened, with only 1.5 months of supply available at the end of April, a 22% decrease from the same time last year and a 6.9% drop from March. This limited inventory continues to create favorable conditions for sellers.
In terms of sales speed, 68.5% of single-family homes sold within 30 days or less in April, a notable increase from 62.5% in March and a substantial jump from 53.6% in April 2023, indicating that homes are selling faster as demand persists in the market.
Overall, the Las Vegas housing market remains strong, with rising prices and a swift pace of sales, providing a dynamic environment for both buyers and sellers.
In April 2024, the median sales price for condos and townhomes in Las Vegas rose to $290,000, up from $282,500 in March. This marks a notable year-over-year increase from $270,000 in April 2023, reflecting continued price growth in this segment of the market.
A total of 621 condo and townhome units were sold in April, with 1,248 units available by month’s end, resulting in 2 months of inventory on the market. This inventory level indicates a relatively balanced market, although limited availability continues to drive competition.
In terms of sales speed, 66.2% of condos and townhomes sold within 30 days or less in April, up significantly from 56.3% in March and slightly higher than 58.1% in April 2023, reflecting an acceleration in the pace of transactions as demand remains strong.
Overall, the Las Vegas condo and townhome market remains active, with rising prices and quicker sales, providing continued opportunities for both buyers and sellers.
Thinking about buying or selling a condo, townhome, or single-family home in Las Vegas? Let’s make your next move a success! Contact me today for expert guidance, personalized advice, and up-to-date market insights to help you achieve your real estate goals. Call 626-872-7457 or Email me a few months or more before you want to move so we can make sure your home is ready to go when you are!
Las Vegas Real Estate Market Update -July 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| August 2023 | $447,435 |
| July 2023 | $450,000 |
| June 2023 | $440,990 |
| May 2023 | $442,120 |
| April 2023 | $430,000 |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
For the second time in four months the single family home prices in Las Vegas took a slight dip. The Median price to buy a home in Las Vegas at $447,435. This marks a slight decrease of just over $2,000 from last month.
The amount of houses available for sale is still incredibly low with the effective inventory at 1.9 which is up from last month of 1.7 months. This is still an incredibly strong sellers market. To put it into perspective, a neutral market where not the buyer or seller is deemed to have the upper hand is 6-7 months of inventory.
The amount of sales also dropped with 2,009 homes sold compared to 2,041 homes sold in July. Homes are selling at a 99% of their list price.
Of all the homes sold 532 included seller contribution towards closing costs of at least $5,000 and of those of those homes 245 contributed over $10,000. The Highest sale on record was $ 21.25 million on Discovery Canyon located in the Ultra Luxurious Community of The Summit Club. This home featured 8,419 square feet on just under 28,314 square foot lot.
69.8% of the homes sold within 30 days and another 15.5% sold within 60 days. This is on pace with what we saw last month.
Condo / Townhome Prices New Median Sale Price
Condo & Townhouse Housing Market Snapshot
The Las Vegas condo and townhome market saw a RECORD HIGH with a new median sales price of $287,000. This is an increase from last months price of $275,000 and an increase of $2,000 from the previous all time high of $285,000 set May 2022.
Las Vegas Real Estate Market Update -July 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| July 2023 | $450,000 |
| June 2023 | $440,990 |
| May 2023 | $442,120 |
| April 2023 | $430,000 |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Housing market continues to rise with the new Median price to buy a home in Las Vegas at $450,000. This is an increase $25,000 since January and just under $10,000 from last month.
The amount of houses available for sale is still incredibly low with the effective inventory at 1.7 months. Meaning that if there was to be no additional homes listed for sale we would run out of homes in under two months. This is still an incredibly strong sellers market. To put it into perspective, a neutral market where not the buyer or seller is deemed to have the upper hand is 6-7 months of inventory.
The amount of sales dropped by about 10% with 2,041 homes sold this month compared to 2,293 last month. Of those homes sold 812 included seller contribution towards closing costs of at least $1,000 of the Total homes sold 579 contributed over $5000. The Highest sale on record was $ 15.5 million on Vegas Hills Court located in the Ultra Luxurious Community of The Summit Club. This home featured 8,936 square feet on just under 35,000 square foot lot.
The overall pace at which homes are selling is increasing month by month. For this month homes sold on an average of 34 days which is the highest jump in days to sell we have had all year.
Las Vegas Real Estate Market Update -June 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| June 2023 | $440,990 |
| May 2023 | $442,120 |
| April 2023 | $430,000 |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Median price to buy a home in Las Vegas dropped this month ( just a couple thousand ) this month to a new median sales price of $$440,990.
The amount of sales stayed virtually flat with 2,316 homes sold this month compared to 2,316 last month. Of those homes sold 1094 included seller contribution towards closing costs of at least $1,000 of the Total homes sold 825 contributed over $5000. The Highest sale on record was $ 14.25 million on Hevens Edge Court located in Henderson in the well regarded guard gated community of Ascaya. This home featured 9,589 square feet on 2.53 acres and was on the market for 338 days before escrow.
The overall pace at which homes are selling is increasing month by month as inventory continues to be extremely low historically. Our current inventory shows an availability of 1.6 months. Meaning that if there wasn’t another home added for sale, it would only take 1.6 months for all the homes to be sold.
For this month homes sold on an average of 44 days which is the highest jump in days to sell we have had all year.
Las Vegas Real Estate Market Update -May 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| May 2023 | $442,120 |
| April 2023 | $430,000 |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Median price to buy a home in Las Vegas went up again this month to a new median sales price of $442,120. This is a jump in price of $12,000. This is typical for this time of year as the market usually starts to rise around spring.
The amount of sales did increase to a total of 2,316 which is an increase of about 15% from last month. Of those homes sold 985 included seller contribution towards closing costs of at least $1,000 of the Total homes sold 767 contributed over $5000. The Highest sale on record was $6.2 million on Scenic Ridge Drive in the well regarded guard gated community of Spanish Hills.
Overall houses are selling faster than in past months taking 50 days to sell on average this month.
Las Vegas Real Estate Market Update -April 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| April 2023 | $430,000 |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Month to month prices of Single Family homes in The Las Vegas Valley real estate market increased for the first time all year. The new price is no $430,000. This is a jump in price of $5,000 and could be signaling that bottom of the market has come and gone.
The amount of sales did increase to a total of 1,962 during the month Of those homes sold 1193 included seller contribution towards closing costs of at least $1,000 of those About 40% contributed over $5000. The Highest sale on record was $9.9 million on Talus Court located in Henderson in the well regarded guard gated community of Ascaya
Overall houses are taking 55 days to sell on average
Las Vegas Real Estate Market Update -March 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| March 2023 | $425,000 |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Median sales price of a home in Las Vegas held steady once again at $425,000.
The amount of homes sold did increase quite a bit to a total of 2,361 during the month. Of those sales, 919 included seller contribution towards closing costs of at least $1,000, and of those – 764 contributed over $5000.
The Highest sale on record was $6.5 million on Grand Corniche Dr located in Henderson in the guard gated community of South Shore Country Club
Overall houses are taking 58 days to sell which is 2 days faster than last month.
Las Vegas Real Estate Market Update – February 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| Feb 2023 | $425,000 |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Month to month prices of Single Family homes in The Las Vegas Valley real estate market dropped slightly this month after remaining flat for the third month a row. The new median sales price of a single family home in Las Vegas is still $425,000.
The amount of sales are still very low but did increase to a total of 1,534 during the month. Of those 1,617 sales, about half ( 859 ) included seller contribution towards closing costs of at least $1,000.
Overall houses are taking 60 days to sell. This is slightly more than last month which saw an average of 57 days on the market.
Las Vegas Real Estate Market Update – January 2023
| Month | Las Vegas Median Home Prices – 2023 YTD |
| Jan 2023 | $425,000 |
| Dec 2023 | $425,000 |
The Month to month prices of Single Family homes in The Las Vegas Valley real estate market has remained the same for 2 straight months for the first time since August / September of 2022. .
The price for a Single family home remained the same for February with a price of $425,000.
There were 1,325 total sales during the month which is slightly lower month over month. Of those 1,325 sales, about half ( 684 ) included seller contribution towards closing costs of at least $1,000. The Highest sale on record was $9.3 million on Flying Cloud Lane in the beautiful community of The Ridges in Summerlin.
Overall houses are taking 57 days on the market to sell on average which is increase of 6 days from the month before.
Las Vegas Condos and Townhomes March 2023
| Month | Las Vegas Condos and Townhomes Prices February YTD |
| Mar 2023 | $250,000 |
| Feb 2023 | $255,000 |
| Jan 2023 | $246,900 |
The Las Vegas Valley Condo market saw a decrease in price from last month. This seems to be following a market trend of having prices go up and down the last 4 month The median sales price for a condo and townhome in The Las Vegas Valley is now $250,000 which is down from the prior month of $255,000
There were 428 total sales during the month which is slightly higher than the 398 from last month.. Of those 428 sales, 197 sales included seller contribution towards closing costs of at least $500.
Overall Condos and Townhomes are taking 51 days on the market to sell on average which is a decrease of 4 days from the month before.
Las Vegas Condos and Townhomes February 2023
The Las Vegas Valley Condo market saw an increase in price since September of 2022. The median sales price for a condo and townhome in The Las Vegas Valley is now $255,000.
Up from last month which had a price of $246,900.
There were 183 total sales during the month which is slightly lower month over month. Of those 398 sales, 183 sales included seller contribution towards closing costs of at least $500.
Overall Condos and Townhomes are taking 55 days on the market to sell on average which is increase of 5 days from the month before.
Need help with your home search? Simply email me
Buy
