Each month, the Las Vegas housing market is shifting, and it’s important to stay up to date on the current information. This way, you are able to make the best decision on when you would like to buy, sell or refinance. Here’s the Las Vegas Real Estate Market Report for August 2021.
*All stats are pulled from LVR reports and are subject to change on a daily basis as new listings come on the market and existing listings sell. Call us at 702-838-7700 if you are looking to buy or sell for the most current stats.
A Look at the Housing Stats
Last month, there were 3,352 homes sold, which is a 5% decrease over the previous month and a 1% increase over this time last year.
The median price of homes sold is 405,000. This is a 23% increase year over year and a 3% decrease over last month.
There were 3,007 homes on the market without offers. This is 23% more than last month and 37% down from this time last year.
There were 7,364 homes on the market with offers, which is 6% more than last month, as well as 24% less than a year ago.
A Look at the Condo & Townhome Market
There were 873 units sold this month. Compared to last month, this is a 7% decrease, with a 25% increase year over year.
The median price of condos & townhomes was 224,250. This is up from last month by 4% and up from last year by 14%.
There were 662 units available without offers, which is 15% more than last month and 58% less than this time last year.
At the end of the month, there were 1,821 units with offers. Compared to this time last year, that’s a 32% decrease, as well as a 2% increase month over month.
What Does it Mean if You are Looking to Buy?
This market has been pretty crazy due to the amazingly low interest rates of homes and we’ve got some great news for you!
There has been a 3 month upward trend in inventory across the valley. More houses are hitting the market, which means more homes for you to choose from!
Presently, we have 1 month of inventory, whereas we were at only 1/2 month back in March & April.
If you’re looking to buy, make sure you are prepared with a competitive offer. This doesn’t always have to mean the highest price you are able to pay. There are numerous factors that go into making a competitive offer, and having a well seasoned agent with plenty of connections, helps!
Our team has 100+ years collectively in real estate, so we know the market and know what’s going to work to get you the home you want.
Looking to save $$ on your mortgage? Connect with us, today – we’ve helped many clients save thousands on their home purchase.
Browse the most recent homes for sale in Las Vegas below:
What Does it Mean if You are Looking to Sell?
Median price has continued to increase significantly. A healthy market should appreciate 3-5% per year – presently this is happening monthly.
As supply and demand shifts, prices will change, so now is the perfect time to list your home while the pricing is in your favor! Especially with the median sales price being 101% of the listing/asking price.
This is a unique market and we want to help make sure you take advantage of it while you still can!
Make sure that if you are choosing to sell, you’re doing it the right way so you can get it sold quickly with multiple offers. Our team can help!
If you’re curious what your home may be worth or want to know more about selling, connect with us today at (702) 838-7700 or email@example.com.
Homes for Sale
The homes for sale below are the newest homes on the market in Las Vegas.
Condos & Townhomes for Sale
The Las Vegas condos & townhomes listed below are the newest on the market.
Your Las Vegas Real Estate Team
We’ve been serving Las Vegas for over 33 years and we’re happy to help you whether you’re looking to buy, sell, refinance or just want to know more about this wonderful city! Connect with us today at (702) 838-7700 or firstname.lastname@example.org.