Las Vegas 2019 Market Trends - A Year in Review

Posted by Las Vegas Homes By Leslie - on Thursday, February 6th, 2020 at 8:42am.

Las Vegas real estate trends

The Las Vegas real estate market ended on a high note in 2019. We had a high percentage of pending sales in both single-family and condos with similarly high increases in closed sales. We're still seeing a reluctance to list, with under 3 months of inventory. Which is surprising, with sellers getting an average of 98.4% of their asking price and homes remaining on the market for just over a month.

Las Vegas Single Family Home Sales Highlights

Las Vegas 2019 single family home sales

Current as of January 3, 2020. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2020 ShowingTime.

After a slightly sluggish year in 2019, the market for single-family homes in Las Vegas started to make a nice comeback. In December closed sales were up 16%, pending sales up 33.9% and average sales prices were up 6.2%. There was no shortage of buyers, but we could have used more home sellers.

Here were the final year-to-date numbers for Las Vegas single-family homes:

  • New Listings: +3.7%
  • Closed Sales: -2.4%
  • Days on Market Until Sale: 45 days, compared to 31 days in 2018
  • Average Sales Price: +5.2% from $339,869 to $357,419
  • Percent of List Price Received: 98.4%

Las Vegas Condo & Townhome Sales Highlights

Las Vegas 2019 condo sales

Current as of January 3, 2020. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2020 ShowingTime.

Las Vegas condos and townhomes demonstrated a more gradual increase, ending on a positive note by the end of 2019. By the end of December Pending Sales were at over 25%, giving the market a nice springboard into the new year.

Here were the final year-to-date numbers for Las Vegas condos and townhomes:

  • New Listings: +4%
  • Closed Sales: -2.5%
  • Days on Market Until Sale: 46 days compared to 27 days in 2018
  • Average Sales Price: +6% from $167,103 to $177,125
  • Percent of List Price Received: 97.7%

Get even more in the know with these informative reports on the Top Master-Planned Communities - complete with pricing, the Top 55+ Retirement Communities in Las Vegas, and a snapshot of all the new growth on the horizon for in 2020:

Las Vegas Top Selling Master-Planned Communities in 2018

Top 55+ Retirement Communities in Las Vegas

New Growth on the Horizon for Las Vegas in 2020

Clark County Tax Rates for 2019/2020

 

By Leslie Hoke

Las Vegas Homes By Leslie
8010 W Sahara Ave #150, Las Vegas, NV 89117
Direct: (702) 321-1763 Fax: (702) 224-2146
www.LasVegasHomesByLeslie.com
Premier Realty Group

License #S.0062628


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