Las Vegas 2018 Real Estate - A Year in Review

2018 was an interesting year for real estate in Las Vegas.

In 2017, the Las Vegas real estate market was in full recovery mode, climbing to heights we never predicted, and creating a robust sellers market. When the clock turned to 2018, the market started to level off, becoming more realistic and much more conducive to buyers. Home sales decreased somewhat, creating a more balanced market, and condo and townhome sales remained steady.

Las Vegas real estate across the board slowed down toward the end of 2018 with increasing home prices and predictions of interest rate hikes. This is the worst time to be sitting on the fence. If you see a home purchase in your near future, visit a bank or broker and lock in the best rate, now.

Las Vegas Single Family Home Sales Highlights

Current as of January 3, 2019. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2018 ShowingTime.

Single family home sales have leveled off, creating more of a buyers market. Prices, however, continue to rise.

• New Listings: +4.8%
• Closed Sales: -8.1%
• Days on Market Until Sale: 31 days compared to 38 days in 2018
• Average Sales Price: +12.8% from $254,500 to $287,000
• Percent of List Price Received: 99%

Las Vegas Condo & Townhome Sales Highlights

Current as of January 3, 2019. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2018 ShowingTime.

Unlike single family homes, in 2018 Las Vegas condo and townhome sales held steady with a large increase in new listings.

• New Listings: +19.5%
• Closed Sales: -.1%
• Days on Market Until Sale: 27 days compared to 31 days in 2018
• Average Sales Price: +20.8% from $138,712 to $167,574
• Percent of List Price Received: 98.7%

View our report on the Las Vegas Top 20 Master-Planned Communities in 2018