Las Vegas News + Market Recap for July

[Josh Edelman]

Welcome to August! Things are getting interesting with the upcoming elections and interest rate drops this past week. Here are some data points below from the past month:

🏠📈 Real Estate Update 📉🏠

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

🏡 Mortgage Rates:
30-year conventional rate today is 6.63%
30-year VA rate today is 6.20%

💰 Median Sales Price:
May: $475,995
June: $485,000
July: $487,483

📈 New Listings:
May: 2,141
June: 1,920
July: 2,032

📅 Median Days on Market Until Sale:
May: 12
June: 13
July: 14

📦 Months Supply of Inventory:
May: 2.4
June: 2.3
July: 2.6