Greater Las Vegas Real Estate Market Update – November 2021

Current Las Vegas Market Individual Charts

Current Las Vegas Market Report

Market Overview

The 2021 residential resale market pace slowed somewhat in October. Listings taken were down in October as are the overall number of available listings. Demand remained steady although there were approximately 260 fewer closings in October as compared to September. That leaves Greater Las Vegas hovering at 1.2 months of SFR inventory.

The year-to-date results remain 29% ahead of 2020 closings. Meanwhile the hi-rise and luxury markets another strong month with 107 and 116 closings respectively. The median sales price of SFR closings improved to $410,000 while the SFR average closed sales price pushed up to $493,968 representing 0.86% and 1.59% increases respectively. Still, some communities saw a dip in the average closing prices while others enjoyed increasing sales prices. That’s why we always remind everyone that all real estate is local – even hyperlocal. Your community or subdivision may not be – and most likely isn’t in lock step with the larger market. Similarly, some communities are increasing available inventory more quickly than others.

2021 – A Record / Banner Year?

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