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Updated over 2 years ago,

User Stats

28
Posts
15
Votes
Andrew Weiler
  • Real Estate Agent
  • Las Vegas/Henderson
15
Votes |
28
Posts

Little market update for the Las Vegas Community

Andrew Weiler
  • Real Estate Agent
  • Las Vegas/Henderson
Posted

Here is some quick hitters on the vegas market in the last month! 

-August marked the third consecutive month in a row that the median home price in Las Vegas has dropped. Dropping to $450,000, the median home price of single family homes sold in Las Vegas is at a 6-month low and matches what the median price was for February of this year.

-In addition to a decline in median home price, the total number of homes sold has declined in the past three months, inventory available is on the rise, and time on market has slightly increased.

-The shift from a strong seller’s market to more of a neutral or buyer’s market is likely due to the higher interest rates, inflation, and uncertainty as to what’s going to happen in the coming months.

- STR update: The window opened up to start applying for short term rental licenses, although the list to get one has filled up quickly. It was already kind of tough to get a licenses for STR's in vegas but now it just got a lot tighter.

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