Overview
Las Vegas Nevada Real Estate Market Overview
This information has been updated as of March 1, 2024.
There are presently 4,588 properties listed for sale, inside the valley. . There are 2,964 properties in escrow. 2,382 properties closed escrow over the last 30 days. That is around a 2 month inventory at the present rate of sale. The National Association regards a 5 to 6 month supply of inventory as about standard. Short analysis. Sales are seasonally up slightly, prices are stable over the last few months.
Below are my own calculations and graphs. Raw data provided by the Greater Las Vegas Association of Realtors. This is for all listings inside the valley including the cities of Las Vegas, North Las Vegas and Henderson.
Free-standing homes selling prices by month for the last 12 months
Inventories of free-standing homes over the last 12 months
The median new home price at the time of this writing is $445,000. There are now around 300 active subdivisions. Sounds like a lot, but in 2005-2006 there were around 1,200. New homes are now approximately 25% of the market. New home sales are down around 60% from the highs of just a few months ago. A few years ago new homes sold at about the same rate as re-sales. 40% of all listed properties are represented as vacant (note that historically, this figure has been in the 41% range for the last number of years). Just over 17% are tenant occupied.