Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
Overall, the November market production was on par with last November, leaving 2023 results approximately 19% behind 2022. Both listings taken and closed units dropped sharply leaving us with 4.1 months of inventory. Yet, the months of inventory varies widely across Greater Las Vegas. For example, there is only two (2) months of inventory in Green Valley Ranch while Silverstone Ranch and Lake Las Vegas each have fourteen (14) months of inventory.
Still the median closed sales price of an SFR remained virtually flat at $450,000 while the average price jumped 7% to $582,889. Once again, the market struggled with financing with cash transactions making up a larger share of the November transactions. However, there was noticeable increase in creative/alternative financing, especially in the luxury market. I would expect December’s numbers to be in the same ballpark as November’s.
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