Tagged : Las Vegas market trends

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

February Market Trends Continue: Higher Prices & High Demand

Las Vegas real estate sales in February 2022 continues trend of high prices and high demand.

The number of closed sales have held their own in February, trending down slightly (-7.6%) from February 2021. Average sales prices continue to rise (up 19% from 2021) and properties are remaining on the market just an average of 23 days. New inventory continues to be a challenge with new listings down -5.3% since last year, but just -1.7% year-to-date. The demand for new inventory continues to be strong - it's a seller's market out there.

Las Vegas Single-Family Home Sales: February 2022

February 2022 Single-family home sales in the Las Vegas area are down just -9.6% from

Las Vegas Real Estate Demand & Prices - Up, Inventory - Down

Rewind back to December 2021, after a record-setting year, home and condo sales in Las Vegas finally showed signs of settling down. That trend has carried throughout January 2022 with a 1% increase in closed sales. New Listings continue to decline and Months Supply of Inventory sits at 0.8 (less than a month). This hasn't stopped the momentum for Average Sale Prices which are up 22.4% for Las Vegas homes and condos combined.

The overall Housing Affordability Index is down by -20.7% from 2021. In spite of this, the demand for real estate is huge, with listings remaining on the market an average of just 27 days. 

Las Vegas Single-Family Home Sales: January 2022

Las Vegas Fall 2021 Market Snapshot by Las Vegas Homes by Leslie

This Fall, real estate trends in Las Vegas were characterized by increased closings, higher prices and quick sales. Real estate sales and prices in Las Vegas continue to be on the rise for both single-family homes, condos and townhomes. The Housing Snapshot below, summarizes market trends for Las Vegas homes, condos and townhomes this past November 2021.

November 2021 Housing Snapshot

Las Vegas Single-Family Home Sales - November 2021 vs 2020

Sales for single-family homes in November 2021 were up 7.8% compared to 2020. Median Prices of the units sold were up 21.7%. the number of New Listings were only up 3.1% and Available Units down -25.3% as the market continues to struggle

At one time, you were hard-pressed to find a condo to buy in Summerlin. But, over the past few years, the condo/townhome market in Summerlin has been steadily growing and has resulted in a desirable location for maintenance-free housing. Whether you're seeking an age qualified building, an ultra-luxury condo, or just entering the real estate market, there are properties here to suit every lifestyle.

Summerlin condo residents also have the benefit of a plethora of amenities, parks, schools and recreation facilities that Summerlin is famous for. Use our guide to navigate the 2021 Summerlin condo market and read more about:

• Snapshot of 2021 Summerlin Condo & Townhome Trends
• List of Popular condos and townhomes in Summerlin by price