The Sodhi Group's Market Report

Las Vegas, NV

Single-Family Homes

Info@YourHomeLV.com | www.YourHomeLV.com



Las Vegas, NV

Sat Nov 27 2021
This week the median list price for Las Vegas, NV is $509,900 with the market action index hovering around 61. This is about the same as last month's market action index of 61. Inventory has decreased to 2,221. Click here to stay informed with the Las Vegas market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Las Vegas, NV

Sat Nov 27 2021
This week the median list price for Las Vegas, NV is $509,900 with the market action index hovering around 61. This is about the same as last month's market action index of 61. Inventory has decreased to 2,221. Click here to stay informed with the Las Vegas market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Las Vegas market.
Median List Price $509,900
Median Price of New Listings $429,997
Per Square Foot $240
Average Days on Market 77
Median Days on Market 35
Price Decreased 32%
Price Increased 8%
Relisted 8%
Inventory 2,221
Median Rent $2,160
Market Action 61
Strong Seller's Market

Prices appear to be hovering around their high point. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,165,000 4,008 0.25 - 0.5 acre 4 3.5 19 62 73 63
$600,000 2,613 6,500 - 8,000 sqft 4 2.8 18 84 113 35
$448,500 1,990 4,500 - 6,500 sqft 3 2.5 21 157 137 21
$340,000 1,434 4,500 - 6,500 sqft 3 2 36 187 206 21