This information has been updated as of April 4, 2024.
There are presently 4,545 properties listed for sale, inside the valley. . There are 3,336 properties in escrow. 2,721 properties closed escrow over the last 30 days. That is around a 1 1/2 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.
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.
8625 S. Eastern Ave. - Las Vegas, NV 89123 - Contact Me
