The Sodhi Group's Market Report

Las Vegas, NV 89138

Single-Family Homes

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Las Vegas, NV 89138

Fri Sep 20 2019
This week the median list price for Las Vegas, NV 89138 is $599,444 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 140. 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.

Slight Seller's Advantage

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 89138

Fri Sep 20 2019
This week the median list price for Las Vegas, NV 89138 is $599,444 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 140. 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.

Slight Seller's Advantage

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 $599,444
Per Square Foot $219
Days on Market 97
Price Decreased 57%
Price Increased 6%
Relisted 23%
Inventory 140
Median House Rent $2,098
Most Expensive $1,650,000
Least Expensive $309,000
Market Action Index
Slight Seller's Advantage
34

Prices in this zip code seem to have settled around a plateau. 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
$884,000 3,413 8,000 - 10,000 sqft 4 5 3 3 3 127
$649,900 2,917 6,500 - 8,000 sqft 4 3 4 2 2 105
$525,000 2,516 4,500 - 6,500 sqft 4 3 12 6 1 60
$398,000 1,947 0 - 4,500 sqft 3 3 14 2 4 96