Las Vegas Market Watch

MARKET REPORT / Las Vegas, NV Mon Aug 16 2021

August 16, 2021
By Lynn Williams
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This week the median list price for Las Vegas, NV is $495,000 with the market action index hovering around 70. This is less than last month's market action index of 75. Inventory has increased to 2,479. Click here to stay informed with the Las Vegas market!

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   $495,000
Median Price of New Listings   $440,000
Per Square Foot   $231
Average Days on Market   63
Median Days on Market   21
Price Decreased   27%
Price Increased   8%
Relisted   7%
Inventory   2,479
Median Rent   $2,075
Market Action   70
Strong Seller's Market
 

The market seems to have paused around this plateau. 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.

August 16, 2021
By Lynn Williams