July 2022

The demand for Las Vegas condos and townhomes hasn't shown signs of letting up. So versatile, a highrise or condo hotel is a perfect choice for a rental investment, or out-of-town owners looking for a place to stay when they visit the Strip. Condos or townhomes in residential areas are a sought after choice by growing families and empty nesters alike. Depending on the facility, there are usually a range of amenities to choose from, and convenient locations to business, shopping, schools and transit.

Although total sales of condos and townhomes in the Greater Las Vegas area decreased slightly (-10.6%) up to June 2022, the Average Sales Price continues to rise. Compared to the same time in 2021, condo values have risen an average of 28.5%. Buyers

Las Vegas Inventory Finally Up, & Prices Keep Rising

June 2022 Stats Summary for Greater Las Vegas

The Las Vegas real estate market in June was truly eventful. After months of barely 30 days of inventory, new listings are on the rebound by as much as 61.5% with a 2 month supply. In the midst of this, average home prices are still soaring, up 19%!

June 2022 has proved a challenging time for buyers and sellers, inflation levels have reached over 34%, as a result, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher real estate prices, combined with rising interest rates have tempered sales, resulting in almost 25% fewer sales overall, since the same