Las Vegas Real Estate Market Update

Image Credits: Unsplash Image Credits: Unsplash

Las Vegas homes and condos maintain prices from last year in September 2023.

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Median price for existing single-family homes matches 2022 at $450,000.

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Condo and townhome prices hold at $270,000, down 5.9% from the peak in August.

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Single-family homes listed without offers decline by 49.9%, while condos and townhomes drop by 44.0% compared to the previous year.

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Home sales down 10.3%, but condos and townhomes up by 5.5% in September 2023.

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Housing supply remains tight, affecting the housing market, with a two-month supply in September 2023, down from four months in the previous year.

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Fewer homes sold in 2023 compared to 2022 when there were 35,584 total sales.

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27.9% of local property sales were cash transactions, up from 25.8% one year ago.

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Distressed sales at 1.3% of all property sales, up from 0.1% one year ago.

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Total real estate transactions exceed $1 billion for homes and $159 million for condos in September 2023.

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Read Also - Homebuyers Struggle as Affordability Crisis Hits New Heights in 2023

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Las Vegas Real Estate Market Update

Las Vegas Real Estate Market Update

Oaklakeapts.com

Oaklakeapts.com

Las Vegas homes and condos maintain prices from last year in September 2023.

Las Vegas homes and condos maintain prices from last year in September 2023.

Median price for existing single-family homes matches 2022 at $450,000.

Median price for existing single-family homes matches 2022 at $450,000.

Condo and townhome prices hold at $270,000, down 5.9% from the peak in August.

Condo and townhome prices hold at $270,000, down 5.9% from the peak in August.

Single-family homes listed without offers decline by 49.9%, while condos and townhomes drop by 44.0% compared to the previous year.

Single-family homes listed without offers decline by 49.9%, while condos and townhomes drop by 44.0% compared to the previous year.

Home sales down 10.3%, but condos and townhomes up by 5.5% in September 2023.

Home sales down 10.3%, but condos and townhomes up by 5.5% in September 2023.

Housing supply remains tight, affecting the housing market, with a two-month supply in September 2023, down from four months in the previous year.

Housing supply remains tight, affecting the housing market, with a two-month supply in September 2023, down from four months in the previous year.

Fewer homes sold in 2023 compared to 2022 when there were 35,584 total sales.

Fewer homes sold in 2023 compared to 2022 when there were 35,584 total sales.

27.9% of local property sales were cash transactions, up from 25.8% one year ago.

27.9% of local property sales were cash transactions, up from 25.8% one year ago.

Distressed sales at 1.3% of all property sales, up from 0.1% one year ago.

Distressed sales at 1.3% of all property sales, up from 0.1% one year ago.

Total real estate transactions exceed $1 billion for homes and $159 million for condos in September 2023.

Total real estate transactions exceed $1 billion for homes and $159 million for condos in September 2023.

Read Also - Homebuyers Struggle as Affordability Crisis Hits New Heights in 2023

Read Also - Homebuyers Struggle as Affordability Crisis Hits New Heights in 2023