June 2021 | Las Vegas Real Estate Market Update

Dated: June 10 2021

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June 2021 

Las Vegas Area Market Update

Ah, Summer has begun. And that means vacations are on the short horizon as well.

I do really hope you and your loved ones are able to make a memorable vacation, or even stay-cation!

Afterall, we may be in the best city ever for a spectacular stay-cation.

You can experience best-in-class hospitality, dining, attractions and shows, without ever leaving the city.

Regarding our real estate market, let's see if we can take a vacation, however brief, from our crazy market conditions as of late.

Let's dive into what's going on this month in our Las Vegas Area real estate market.

Median Sold Price

Real Estate Market Highlights

Single-Family Home StatsMay2021 vs 2020AnalysisYoY = Year over Year

Median Sold Price

$385,000

↑ 29.5% YoY

Our Median Sold Price has increased every month this year. At $385,000, we are up 2.0% from last month and up over 10% since the beginning of the year!

Number of New Listings

3,731

↑ 15.5% YoY

We’ve added only 32 more listings this month than last month. Shockingly, we are up from last year, but Sellers, I think we can do better.

Number of Single-Family Homes Sold

3,189

↑ 87.3% YoY

Down about 10% from last month, we’re still selling over 87% more homes this year than last year. Hello, Demand!

Months on Hand / Months of Inventory

0.6 Months

↓ 81.3% YoY

Last month we were steady at 0.5 months on hand. This month we actually had our 1st increase in inventory in a VERY LONG time.

Days on Market for Units Sold

0-30 days = 86.9%

31-60 days = 6.4%

61-121+ = 6.7%

Only 6.7% of homes do not sell within the first 60 days on market. Buyer demand is strong if you are priced correctly.

*The month depicted in the statistics is May 2021. June 2021 stats will be available at the beginning of July 2021.

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Shauna Gut

Shauna R Gut is a native to Las Vegas who has seen the valley grow over the years. She helps families who have outgrown their home, physically, financially or otherwise, purchase a home that better f....

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