Las Vegas Market Recap for April + News!

[Josh Edelman]

Welcome to May! Summer is soon approaching so enjoy the last of our “cool” days as much as possible. Also, make sure your AC’s are in good condition and if they need some maintenance, do it before it gets busy in the summer!!

🏠📈 Real Estate Update 📉🏠

Here's the latest market report (based on single family homes) 📊:

🏡 Mortgage Rates:
30-year conventional rate today is 7.25%
30-year VA rate today is 6.65%

💰 Median Sales Price:
February: $460,000
March: $475,000
April: $476,000

📈 New Listings:
February: 1,669
March: 1,845
April: 1,914

📅 Median Days on Market Until Sale:
February: 21
March: 16
April: 13

Some fun facts!:

🖼️ The Mob Museum in Nevada is acclaimed as one of America's most popular museums, ranked 15th nationally with 40,500 reviews, nestled between Denver Art Museum and Meow Wolf. Graceland tops the list with 1.3 million reviews.

🌡️ In May, temperatures in Nevada rise significantly from an average high of 83°F to 94°F, with historical highs reaching up to 109°F. The month also records one of the lowest precipitation levels, tying with October.

🏞️ Valley of Fire State Park in Nevada is enhancing its attractions with a new 17,000 square-foot visitor center, set to feature an amphitheater and a gift shop, aiming for completion in fall 2025.

🚄 Construction activities on I-15 near Las Vegas indicate progress on the high-speed train project between southern California and Las Vegas, with nighttime work focusing on geophysical and soil testing.

I hope you’ve enjoy this month’s newsletter. Have a great day!