Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
The Greater Las Vegas real estate market in February looked very similar to January 2025, but was down approximately 200 units from February 2025. Overall, units are down year-to-date 3.3% from last year but up 0.9% in volume.
- the Median price of SFR closing held at $485,000.
- the Average price an SFR closing improved from $599,800 to $$611,238 – a 1.9% increase over January.
The luxury market led the February market with 150 closings above $1 Million, including 18 above $3 Million. The luxury market is already off to its best start ever.
We are sitting with 4.1 months of residential inventory as a result of an uptick in closings and a slight decrease in listings taken in February. There were 4355 residential listings taken in January and only 4009 in February. Yet, the closings were not uniform across the Las Vegas area. Be sure to look at the “selected communities” report and notice that months of inventory range from two to thirty-six months – depending on the community.
Market Changes Ahead!
Where do we go from here! Certainly, the real estate market is quite stable with plenty of consumer optimism. We see signs of inflation slowing and the possibility of lower interest rates ahead this year. Will new home builders be able to keep pace with demand?
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