Is Las Vegas, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Las Vegas has remained a Seller's Market.
Key Takeaway
Las Vegas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Las Vegas, NV
How much do homes in Las Vegas, NV cost?
Median Sold Price
$415,731
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Las Vegas have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Las Vegas was $415,731 in May 2024, up 2.8% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198.6K | $201.6K | +1.5% |
| 2 Bedrooms | $280K | $289.9K | +3.5% |
| 3 Bedrooms | $399.7K | $404.9K | +1.3% |
| 4 Bedrooms | $496.1K | $513.9K | +3.6% |
| 5+ Bedrooms | $650K | $694.1K | +6.8% |
Summary: Las Vegas housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
| Clark | $514.9K | $534.2K | +3.7% |
| Las Vegas | $404.3K | $415.7K | +2.8% |
| North Las Vegas | $398.8K | $400K | 0.3% |
Housing Supply in Las Vegas, NV
How many homes are available in Las Vegas, NV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6,981 | 7,536 | +8.0% |
Summary: The Las Vegas real estate market had 7,536 homes for sale in May 2024, a 8.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 333 | 363 | +9.0% |
| 2 Bedrooms | 1,588 | 1,718 | +8.2% |
| 3 Bedrooms | 2,663 | 2,799 | +5.1% |
| 4 Bedrooms | 1,675 | 1,854 | +10.7% |
| 5+ Bedrooms | 722 | 802 | +11.1% |
Summary: The Las Vegas housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,855 | 1,905 | +2.7% |
Asking Price vs. Sold Price
963 Homes Were Sold
Under Asking
459 Homes Were Sold
At Asking
483 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Las Vegas, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.
Summary: A total of 1,905 homes were sold or pending in Las Vegas in May 2024, up by 2.7% month-over-month. Of the 1,905 sold homes, 51% were sold under asking, 24% were sold at asking, and 25% were sold over asking.
Days on Market for Las Vegas, NV
How long does it take to sell a home in Las Vegas, NV?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 28 Days | -33.1% |
Summary: Homes in Las Vegas had an average of 28 days on market in May 2024, down by 33.1% compared to last year.
Breakdown of Home Sale Times
1,367 Homes Were Sold
Under 30 Days
416 Homes Were Sold
In 30 - 90 Days
120 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Las Vegas are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1905 homes were sold in Las Vegas; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. GLVAR MLS deems information reliable but not guaranteed. 
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Gallatin Association of Realtors/Big Sky Country MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2024 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.