Is Las Vegas, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Las Vegas has remained a Seller's Market.
Housing Prices in Las Vegas, NV
How much do homes in Las Vegas, NV cost?
Median Sold Price
$408,990
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Las Vegas was $408,990 in March 2024, down 1.3% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $201.9K | $200K | -1.0% |
2 Bedrooms | $285.3K | $284.9K | -0.1% |
3 Bedrooms | $407.6K | $399.9K | -1.9% |
4 Bedrooms | $505.6K | $506.1K | 0.1% |
5+ Bedrooms | $663K | $684.1K | +3.2% |
Summary: Las Vegas housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
Clark | $525.3K | $527.6K | 0.4% |
Las Vegas | $414.5K | $408.9K | -1.3% |
North Las Vegas | $409.9K | $395K | -3.7% |
Housing Supply in Las Vegas, NV
How many homes are available in Las Vegas, NV?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6,080 | 6,650 | +9.4% |
Summary: The Las Vegas real estate market had 6,650 homes for sale in March 2024, a 9.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 288 | 338 | +17.4% |
2 Bedrooms | 1,409 | 1,560 | +10.7% |
3 Bedrooms | 2,259 | 2,480 | +9.8% |
4 Bedrooms | 1,502 | 1,600 | +6.5% |
5+ Bedrooms | 622 | 672 | +8.0% |
Summary: The Las Vegas housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,448 | 1,614 | +11.5% |
Asking Price vs. Sold Price
873 Homes Were Sold
Under Asking
408 Homes Were Sold
At Asking
333 Homes Were Sold
Over Asking
Summary: A total of 1,614 homes were sold or pending in Las Vegas in March 2024, up by 11.5% month-over-month. Of the 1,614 sold homes, 54% were sold under asking, 25% were sold at asking, and 21% were sold over asking.
Days on Market for Las Vegas, NV
How long does it take to sell a home in Las Vegas, NV?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 37 Days | -31.5% |
Summary: Homes in Las Vegas had an average of 37 days on market in Mar 2024, down by 31.5% compared to last year.
Breakdown of Home Sale Times
1,015 Homes Were Sold
Under 30 Days
388 Homes Were Sold
In 30 - 90 Days
207 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1614 homes were sold in Las Vegas; 63% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.