The Sodhi Group's Market Report

Las Vegas, NV

Single-Family Homes

Info@YourHomeLV.com | www.YourHomeLV.com



Las Vegas, NV

Sat Jul 31 2021
This week the median list price for Las Vegas, NV is $475,000 with the market action index hovering around 75. This is less than last month's market action index of 81. Inventory has increased to 2,375. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 Jul 31 2021
This week the median list price for Las Vegas, NV is $475,000 with the market action index hovering around 75. This is less than last month's market action index of 81. Inventory has increased to 2,375. 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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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 $475,000
Median Price of New Listings $419,000
Per Square Foot $227
Average Days on Market 61
Median Days on Market 21
Price Decreased 20%
Price Increased 9%
Relisted 7%
Inventory 2,375
Median Rent $2,000
Market Action 75
Strong Seller's Market

The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.

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
$1,111,000 3,883 0.25 - 0.5 acre 4 3 19 100 25 42
$579,999 2,535 6,500 - 8,000 sqft 4 2 18 181 82 21
$410,000 1,931 4,500 - 6,500 sqft 3 2 22 204 92 14
$315,000 1,388 4,500 - 6,500 sqft 3 1 35 250 124 14