Las Vegas Real Estate Market Report

How’s the Market?…

May 2024 Housing Market Update, market trend = SELLER’S MARKET

Median price of existing single-family homes sold in Southern Nevada I nay 2024 was $437.00, IP 7% from May 2023.

Median price of local condos and townhomes sold in May 2024 was $295.00 up 7.3% from May 2023.

3091 existing local homes, condos, and townhomes sold in May 2024, up 3.7% for homes and up .9% for condos and townhomes from May 2023.

Local housing supply in May 2024 equates to less than 2 months, which is slightly down but similar ro one year ago.

Distressed sales (short sales & foreclosures) remain near historically low levels, accounting for 1.1% of all existing local property sales in May 2014.