• SOLD: Discover the number of single-family homes that have been successfully sold in the Las Vegas area.
• AVAILABLE FOR SALE: Get an overview of the single-family homes currently up for sale.
• MONTH OF AVAILABILITY: Learn about the availability of homes on the market in a specific month.  
  
• MEDIAN PRICE SOLD: Find out the median price at which single-family homes are selling.
• 0-30 Days on Market: Get insights into homes that were sold within the first month of being listed.
• 31-60 Days on Market: Understand the dynamics of homes that took 31 to 60 days to sell.
• 61-90 Days on Market: Explore the segment of homes that sold within 61 to 90 days of being listed.
  

The Las Vegas real estate market has witnessed significant shifts over the past decade, and examining key indicators provides valuable insights into these trends. Let's delve into the data for both single-family homes and condos/townhomes to better understand the dynamics that have shaped the market.

Single Family Homes

In the last ten years, the total number of single-family homes sold annually has shown variations, reaching a peak in 2021 at 38,690 homes. However, 2022 and 2023 saw a decline, possibly influenced by external factors such as the COVID-19 pandemic. Despite this, the ten-year average suggests a resilient market with an annual average of 31,553 homes sold.

The median price for these homes, especially in December, has seen a steady increase, reaching $449,900 in 2023. The availability of single-family homes in December has also fluctuated, with the number standing at 3,766 in 2023.

Condo & Townhomes

Condo and townhome sales have demonstrated consistency over the past decade, with 2021 recording the highest at 10,346 units. The median price for these properties has steadily risen, reaching $270,000 in December 2023, indicating sustained demand.

The availability of condos and townhomes has fluctuated, with 2022 and 2023 showing an increase to 1,390 units in December. This suggests a potential shift in preference towards these types of properties, possibly driven by lifestyle changes or market conditions.

Market Insights and Future Considerations

Understanding these trends is crucial for both buyers and sellers. For sellers, it provides insights into pricing strategies, while buyers can make informed decisions based on market conditions. The recent market adjustments may present opportunities for those considering a purchase.

Conclusion

As we analyze the data, it's evident that the Las Vegas real estate market has experienced fluctuations, influenced by various factors. Whether you are buying or selling, staying informed is key to making sound decisions. If you have any questions or need guidance, don't hesitate to reach out. Your journey in the Las Vegas real estate market is our priority.

Thank you for reading! If you have any questions or need further assistance, feel free to contact me. Enhance your home search experience by visiting my Real Estate Website, offering useful tools for homeownership in Southern Nevada: www.RichMacias.com.

My goal is to provide you with valuable data to navigate the Las Vegas real estate market effectively. Whether you're a potential homebuyer or seller, these statistics offer a comprehensive view of the market trends. Stay tuned for regular updates and feel free to reach out if you have any questions or need further assistance.

Thank you for visiting our page! Don't forget to share this valuable information with your friends and family who are interested in the Las Vegas real estate market.

For more information and personalized assistance, you can contact:

Rich Macias
Phone: (702) 371-3573
Email: Rich@LifeinLV.com
Brokered by eXp Realty.
Lic # S.198861

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