Las Vegas Real Estate Market Update - August 2022

Hello, Neighbor!

Even if you don't have kids, I'm sure you already know that it's back to school time. Let's be sure to take heed of school zones and bus schedules. 

Let's take a look at what you need to know as a Las Vegas Area Homeowner.

Median Sold Price dropped for the 2nd time in 2 years

Down slightly from $482,000 to $480,000, now at $465,000. We are seeing the effects of increased interest rates.

Available Units (without offers)

We nearly doubled our available inventory in one month’s time, for the second month in a row.

Drastic inventory supply, but once commotion calms, still not a bad market. In 2019, we spent most of the year at our current levels.

With 3.5 Months on Hand, we are in a healthy real estate market.

Months On Hand

Looking at Pending Sales, which is what we use to predict next month’s activity levels

• Pending Sales have been in a down swing since November 2021. At first we attributed this to low inventory and surging pricing, but perhaps there's more to the story?

• Our Pending Sales is approximately what it was in February 2021, more than most of 2020 and all of 2019.

Real Estate Market Highlights