Las Vegas Market Watch

MARKET REPORT / Las Vegas, NV Wed Jun 16 2021

June 16, 2021
By Dennilee Feliciano
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This week the median list price for Las Vegas, NV is $480,000 with the market action index hovering around 84. This is less than last month's market action index of 87. Inventory has increased to 1,697. Click here to stay informed with the Las Vegas market!

Strong Seller's Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Las Vegas market.
Median List Price   $480,000
Median Price of New Listings   $410,000
Per Square Foot   $223
Average Days on Market   73
Median Days on Market   21
Price Decreased   18%
Price Increased   13%
Relisted   8%
Inventory   1,697
Median Rent   $1,975
Market Action   84
Strong Seller's Market
 

While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

Market Segments

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

June 16, 2021
By Dennilee Feliciano