Is 89031, NV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 89031 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 89031 has remained a Seller's Market.

Key Takeaway

89031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 89031, NV

How much do homes in 89031, NV cost?

Median Sold Price

$395,000

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$20,180(-4.9%)

Key Takeaway

Homes in 89031 have sold for 4.9% less than they did a year ago.

Summary: The median home sold price in 89031 was $395,000 in February 2024, down 4.9% from last year, and the median price per square foot was $225.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $316.2K$305K
-3.5%
3 $394.9K$375K
-5.1%
4 $441K$419K
-5.0%
5+ $492.2K$483.4K
-1.8%

Summary: 89031 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.5%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes decreased by 1.8%.

Median Sold Price Compared To Nearby Zip Codes

89131
+1.5%
89084
-2.3%
89032
-4.6%
89031
-4.9%
89081
-5.9%

Housing Supply in 89031, NV

How many homes are available in 89031, NV?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
244262+7.4%

Summary: The 89031 real estate market had 262 homes for sale in February 2024, a 7.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1717
0.0%
3 134145
+8.2%
4 7780
+3.9%
5+ 1620
+25.0%

Summary: The 89031 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
6451-20.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 89031, you may be able to get a good deal. 51% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in 89031 in February 2024, down by 20.3% month-over-month. Of the 51 sold homes, 51% were sold under asking, 31% were sold at asking, and 18% were sold over asking.

Days on Market for 89031, NV

How long does it take to sell a home in 89031, NV?

Average Sale Time

Feb 2023Feb 2024CHANGE
57 Days35 Days-38.1%

Summary: Homes in 89031 had an average of 35 days on market in Feb 2024, down by 38.1% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 89031 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 51 homes were sold in 89031; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 89031, NV

Nearby Markets to 89031, NV