January 2024 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: 3,577
Condo/ Town homes: 1,126
High Rise Units: 304
Multi-Family, 2-4 Units: 52
Manufactured Homes: 70

TOTAL PROPERTIES IN ESCROW

Single family: 1,646
Condo/ Town homes: 477
High Rise Units: 60
Multi-Family: 2-4 Units: 23
Manufactured Homes: 28

PROPERTIES SOLD IN OCTOBER

Single family: 1,358
Condo/ Town homes: 446
High Rise Units: 69
Multi-Family, 2-4 Units: 17
Manufactured Homes: 15

MEDIAN SALES PRICE FOR OCTOBER

Single family: $450,000
Condo/ Town homes: $271,500
High Rise Units: $412,500
Multi-Family, 2-4 Units: $563,500
Manufactured Homes: $244,500

MEDIAN SOLD DOLLAR PER SQFT FOR OCTOBER

Single family: $248 per sqft
Condo/ Town homes: $239 per sqft
High Rise Units: $482 per sqft
Multi-Family, 2-4 Units: $195 per sqft
Manufactured Homes: $161 per sqft

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