Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
The Greater Las Vegas real estate market made efforts to accelerate in September. The result is that 2025 closed units moved up and is only 7.2% behind 2024 and while closed volume is only down 4.0% from 2024.
- the Median price of SFR retreated further from $480,000 and landed at $470,000.
- the Average price an SFR closing throttled up from $586,070 to $617,183.
This is due to fewer closed units in the lower 50% of the closings while the luxury market closing prices drove the average sales prices higher. This is causing the gap between the median and average closed sales prices to widen. In fact, the luxury market led the August market with 166 closings above $1 Million, including 21 above $3 Million.
Months of single family residential inventory remained at 4.9 months despite a few more closed sales, but not much improvement in new listings. Closings are never uniform across the Las Vegas area. Be sure to look at the “selected communities” report and notice that months of inventory range from three to twenty-two (22) months – depending on the community. Market performance has become increasingly localized, with supply and demand very different from one community to the other. This must be taken into consideration when preparing seller CMAs!
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