Is Summerlin West, NV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summerlin West is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Summerlin West, NV

How much do homes in Summerlin West, NV cost?

Median Sold Price

$640,000

$291/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$15,000(-2.3%)

Key Takeaway

Homes in Summerlin West have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Summerlin West was $640,000 in May 2024, down 2.3% from last year, and the median price per square foot was $291.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $418.5K$415K
-0.8%
3 $552.5K$535K
-3.2%
4 $792.5K$787.5K
-0.6%
5+ $840K$928.5K
+10.5%

Summary: Summerlin West housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 10.5%.

Housing Supply in Summerlin West, NV

How many homes are available in Summerlin West, NV?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4952+6.1%

Summary: The Summerlin West real estate market had 52 homes for sale in May 2024, a 6.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 1616
0.0%
4 2326
+13.0%
5+ 56
+20.0%

Summary: The Summerlin West housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1415+7.1%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summerlin West, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Summerlin West in May 2024, up by 7.1% month-over-month. Of the 15 sold homes, 60% were sold under asking, 7% were sold at asking, and 33% were sold over asking.

Days on Market for Summerlin West, NV

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

Average Sale Time

May 2023May 2024CHANGE
36 Days19 Days-44.9%

Summary: Homes in Summerlin West had an average of 19 days on market in May 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Summerlin West; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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 23 Days Ago

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