Huge Gains in the Las Vegas Real Estate Market - May 2019

It's summertime in Las Vegas and the homes are selling like hotcakes!

We've got the stats for Las Vegas real estate up to May 2019 and we're seeing some incredible growth. 

Las Vegas Single-Family Homes

Wow, May showed some huge gains in the Las Vegas single-family home market. Average sale prices for homes currently sit at $352,426, up 3.9% from last year. Closed sales are up 3.6%, but up almost 18% from April 2019. View all single-family homes currently for sale in Las Vegas

Stats provided by GLVAR, the Greater Las Vegas Association of Realtors.

Las Vegas Condos & Townhomes

Condo sales in Las Vegas have been increasing by leaps and bounds since January, and now appear to be leveling off. Closed sales are down 2.5% from last year, but we have a strong supply of new inventory, up 18.6% from 2018.  Average prices for condos and townhomes currently sit at $178,264, an increase of 9.9% from last year. View all Las Vegas condos for sale

What really gets me excited about the overall Las Vegas real estate market this May is the 3 months supply of inventory, compared to only 2 months in May of 2018. Buyers have more selection, we have more new listings to choose from and sellers are not as cautious.

Nevada from 2017 to 2018, ranked number 1 in both population growth, and the fastest job growth in the nation. No wonder I get calls from people every week wanting to move to Las Vegas.