Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
The Greater Las Vegas real estate market in January looked very similar to January 2024 – which is not bad.
- the Median price of SFR closing improved slightly from $475,000 to $485,000.
- the Average price an SFR closing dropped $623,135 to $599,800 – a 3.7% decrease from December.
The luxury market led the January market with 118 closings above $1 Million, including 20 above $3 Million.
We are sitting with 4.7 months of residential inventory as a result of a dip in closings and a significant increase in listings taken in January. There were only 2500 residential listings taken in December, but there were 4355 residential listings taken in January. The listing agents have returned from their winter vacation.ion.
Market Changes Ahead!
Las Vegas has blossomed into a major international destination city that no longer is dependent solely upon gaming and conventions for its revenue. Demand is being driven hard here by the very nature of this multicultural and vibrant business & industry center. But will additional BLM land become available to address the additional housing needs? Condos, townhomes, and attached homes will continue to assist in addressing demand for housing in Greater Las Vegas in the meantime.
Forrest's Training & Education 