Is 89117, NV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 89117 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 89117 has remained a Seller's Market.

Key Takeaway

89117 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 89117, NV

How much do homes in 89117, NV cost?

Median Sold Price

$460,600

$248/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$14,333(-3.0%)

Key Takeaway

Homes in 89117 have sold for 3% less than they did a year ago.

Summary: The median home sold price in 89117 was $460,600 in February 2024, down 3% from last year, and the median price per square foot was $248.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $202.5K$194K
-4.2%
2 $260K$268K
+3.1%
3 $460K$440.1K
-4.3%
4 $585K$635K
+8.5%
5+ $947.5K$951.9K
0.5%

Summary: 89117 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 0.5%.

Median Sold Price Compared To Nearby Zip Codes

89146
-0.5%
89107
-0.7%
89145
-1.3%
89117
-3.0%
89147
-5.4%

Housing Supply in 89117, NV

How many homes are available in 89117, NV?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
185199+7.6%

Summary: The 89117 real estate market had 199 homes for sale in February 2024, a 7.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 711
+57.1%
2 3747
+27.0%
3 4447
+6.8%
4 6455
-14.1%
5+ 3339
+18.2%

Summary: The 89117 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4036-10.0%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 89117, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in 89117 in February 2024, down by 10.0% month-over-month. Of the 36 sold homes, 72% were sold under asking, 17% were sold at asking, and 11% were sold over asking.

Days on Market for 89117, NV

How long does it take to sell a home in 89117, NV?

Average Sale Time

Feb 2023Feb 2024CHANGE
60 Days39 Days-34.8%

Summary: Homes in 89117 had an average of 39 days on market in Feb 2024, down by 34.8% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 89117 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 36 homes were sold in 89117; 58% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 14% 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

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