Today we released our latest Market Insights overview on Las Vegas, NV. Here is a brief overview of the market.
Las Vegas home prices declined from June – November 2022 but have remained steady since December 2022
List prices on a price per SQFT basis have continued to fall since July 2022 but remain $12 higher than average sale pricing.
Active listings have remained mostly flat since December 2022, despite last month’s sharp downturn in absorption.
The number of Vegas listings that have been on the market for more than 60 days peaked in December 2022 at 73% of the overall market.
Although greater than 60 days on market properties typically fall in March due to Spring listings, last month was the largest month over month decline since March 2021.
Interested in learning more about the Las Vegas market? Reach out to us, we’d be happy to chat further.