December 2023 Newsletter

Hi,

The Las Vegas real estate market is alive, I promise sometimes I feel like it’s living and breathing!

We all know the results of low inventory and high demand, and yes, prices have risen on average. We’ve gone from falling prices a year ago, to flat prices a few months ago, and now they’re going back up.

Las Vegas is different from the rest of the country. The motivation to own a home in Las Vegas is different. We have a low cost of living, we’re growing and there’s never a shortage of things to do.

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Las Vegas Market Snap Shot

TOTAL PROPERTIES AVAILABLE

Single family: 4,073
Condo/ Town homes: 1,201
High Rise Units: 327
Multi-Family, 2-4 Units: 62
Manufactured Homes: 78

TOTAL PROPERTIES IN ESCROW

Single family: 1,654
Condo/ Town homes: 531
High Rise Units: 67
Multi-Family: 2-4 Units: 30
Manufactured Homes: 40

PROPERTIES SOLD IN OCTOBER

Single family: 1,358
Condo/ Town homes: 439
High Rise Units: 60
Multi-Family, 2-4 Units: 11
Manufactured Homes: 15

MEDIAN SALES PRICE FOR OCTOBER

Single family: $453,495
Condo/ Town homes: $279,900
High Rise Units: $384,950
Multi-Family, 2-4 Units: $530,000
Manufactured Homes: $250,000

MEDIAN SOLD DOLLAR PER SQFT FOR OCTOBER

Single family: $245 per sqft
Condo/ Town homes: $239 per sqft
High Rise Units: $430 per sqft
Multi-Family, 2-4 Units: $182 per sqft
Manufactured Homes: $185 per sqft

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