November 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: 4,011
Condo/ Town homes: 1,206
High Rise Units: 343
Multi-Family, 2-4 Units: 65
Manufactured Homes: 76

TOTAL PROPERTIES IN ESCROW

Single family: 1,781
Condo/ Town homes: 551
High Rise Units: 65
Multi-Family: 2-4 Units: 25
Manufactured Homes: 23

PROPERTIES SOLD IN OCTOBER

Single family: 1,609
Condo/ Town homes: 463
High Rise Units: 57
Multi-Family, 2-4 Units: 11
Manufactured Homes: 24

MEDIAN SALES PRICE FOR OCTOBER

Single family: $450,000
Condo/ Town homes: $280,000
High Rise Units: $410,000
Multi-Family, 2-4 Units: $545,000
Manufactured Homes: $225,000

MEDIAN SOLD DOLLAR PER SQFT FOR OCTOBER

Single family: $247 per sqft
Condo/ Town homes: $237 per sqft
High Rise Units: $480 per sqft
Multi-Family, 2-4 Units: $199 per sqft
Manufactured Homes: $169 per sqft

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