Tagged : Las Vegas real estate sales

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

2020 was a tumultuous year for real estate in Las Vegas as we hopped on the Covid roller coaster and hung on for our lives. There were sharp declines in March of 2020, but thankfully by late summer the market started to recover, and the year ended on a high note. Interest rates were too favorable to ignore and home and condo prices continued to increase. Eventually, buyers loosened their grip and re-entered the market. Hopefully, these signs of recovery will carry us well into the new year.

The following reports feature the Las Vegas market trends for single-family homes, condos and townhomes from 2019/2020:

2020 Las Vegas Single-Family Home Sales Highlights

A Research Tool Provided by the Greater Las Vegas Association of REALTORS®

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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