Tagged : Las Vegas real estate market

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

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

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%

The first half of 2018 was a bit of a head scratcher for Las Vegas real estate. Sales were sluggish at first, then suddenly, no one could keep up. Prices increased considerably, properties started selling in record time, but as with previous months, inventory remained low. Sellers are either cautious, content to wait, or both. I'm not sure why, because this is a seller's market one could only wish for.

Las Vegas Market Stats Up to June 2018

Las Vegas Single Family Homes

Selling almost as soon as they're listed, single-family homes are sitting on the market for an average of 25 days, 28.6% less compared to the same time in 2017.

Although the number of new listings are up, the number of closed sales are down (-11%), probably due to the need

Las Vegas Market Stats from January to March 2018

The spring home sellers market has taken off with a vengeance in Las Vegas. The average price for single-family homes has increased by 18% in the first quarter. Townhomes and condos have increased an average of 27.4%! In both cases listings are selling for an average 98.9% of the asking price.

The only downside to these encouraging stats is the supply. At the end of March there was just over 1 months of inventory on hand. This is great for sellers who are getting a quick turnaround for their properties. But there are a lot of buyers out there who would appreciate a bit more selection when they're shopping for a home.

Top Selling Las Vegas Neighborhoods

Here are some of the top selling

If you see a home on the Las Vegas market that you like - don't wait long to make an offer. These three houses sold in 4, 5 and just 10 days. Needless to say, the sellers were very happy.

Here were the listings:

MLS #1981897: 8832 Ashley Park Ave., Las Vegas
SOLD after 4 days

MLS #1963240: 1575 Warm Springs Road, Verde Jiejo, Henderson
SOLD after 5 days

MLS #1977692: 5864 Lazy Creek Avenue, Highland Ranch, Las Vegas
SOLD after 10 days

There are similar homes for sale that you might be interested in. If you've considered selling your home, the current SELLER's market could not be better. Don't hesitate to contact Leslie for more information, or call (702) 321-1763.

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Congratulations from the team at Las Vegas Homes by Leslie

622 Rancho Del Mar Way, North Las Vegas

Congratulations to the seller of this lovely North Las Vegas home. It sold after just 8 days on the market for 100% of the asking price. It doesn't get much better than that. 

The home measures 2,740 square feet, 3 bedrooms 2 baths and sits on a spacious corner lot.

Have you been considering a sale of your Las Vegas home or condo? All it takes is a phone call to start a conversation and get the ball rolling. Just contact Leslie directly at 702-321-1763 for more information about selling your Las Vegas home.

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Fill out the form below for your free Las Vegas home evaluation. We will respond within 24 hours. For

Key stats from the Las Vegas February real estate market update indicate that the buyers are out there, but we need sellers.

Las Vegas Single-Family Home Sales

Here are some highlights from sales of Las Vegas single-family homes in February 2017:

With favorable selling stats like these, why aren't people listing their homes! We have 5% fewer new listings and an inventory of only 2.2 months. 

Las Vegas Condo Sales

Perhaps it's only single family homes that are seeing this problem. Let's look at Las Vegas condo sales in February:

Available Inventory of Las Vegas condos, only 1.4 months!

The Las Vegas market hasn't been this hot in months. Homes have almost been selling themselves. I recently sold a home in Summerlin that was