In October, the average days on market was 30 days. Last October, it was 22 days, so homes are taking a little longer to sell than they were a year ago. But remember that average number represents the entire city. Every price range, every condition, and every type of property all blended together.
I listed two homes within the past month, both in the median price range and very well taken care of. Each one received offers within a week and will be closing soon. That’s a good example of how individual properties can perform differently from the citywide average when they’re priced correctly and in nice condition. Some homes will take longer, and others will move much faster depending on how they show and where they sit in the market.
The median sales price last October was $480,000, compared to $475,000 this October, which shows prices have stayed relatively stable. The number of homes sold has remained consistent, and I’m seeing a small uptick in pending homes, meaning buyers are still active. Inventory was constantly climbing but has stabilized within the past few months, so homes for sale aren’t stacking up without demand.
Taken together, the data shows a market that’s a little slower than last year but still steady, with “nice” homes continuing to attract strong interest.
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Las Vegas Market Snap Shot
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