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KT Las Vegas Homes
  • Home
  • About
  • Home Search
  • Selling
    • Thinking about selling your home in Las Vegas?
  • Buying
    • Buyer Guide
      • Utilities
      • Residential Disclosure Guide
    • FAQs
      • Real Estate Terms Lookup
    • New Homes
    • Moving Checklist
    • Mortgage Calculator
  • Communities
    • Anthem
    • Centennial Hills
    • Central Las Vegas
    • Enterprise
    • Green Valley
    • Henderson
    • Las Vegas Country Club
    • North Las Vegas
    • Paradise
    • Skye Canyon
    • Spring Valley
    • Summerlin
    • Sunrise Manor
    • Whitney
  • Contact
  • Register / Sign in

Follow us

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  • youtube
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Las Vegas Housing Statistics and Real Estate Market Update – April 2023

Welcome! Each month we distribute statistics from our local Realtor association with our own personal analysis of the Las Vegas Real Estate Market. Don’t be afraid to reach out or set an appointment to talk. Click here to contact us! We are always open to answering your real estate related questions!

Looking to purchase? Fill out the questionnaire here for us to provide the best service possible to you!

Looking to sell? Fill out this Valuation Request Form!

Takeaways from April 2023:

PRICES UP for the first time since May of 2022. After 4 months of price stability there was a 5k increase in median home prices. The major reason is a significant lack of inventory. While the amount of homes available decreased in April, the number of transactions complete decreased even more.

As I forecast a price increase last month correctly based on data, as we enter the end of Spring season and start to summer, I would likely expect that prices will continue to increase as it appears the Las Vegas real estate market has hit a bottom and consumers sitting on the sidelines are returning to the market. Las Vegas has traditionally been a seasonal market and prices tend to increase in the warm months with leveling off in the colder months. Looking at the data, it appears we are back to a regular real estate cycle post-Covid.

Multiple offer situations are becoming more common place on properties. While there is still inventory that has been sitting, consumers are gravitating toward appropriately priced homes that are in good to great condition.

On a personal side note, I received the most amount of calls from home flippers this last month which may indicate investors are eyeing the market again.

Median Single Family Home Price: $430,000

Down from 475,000 a year ago (-9.5%).

UP from 425,000 a month ago(+1.2%).

Median Condo/Townhouse Price: $270,000

Down from 275k a year ago (-1.8%)

Up from 260k a month ago (+3.8%)

Number of New Single Family Home Listings: 2,451

Down 4.4% from a month ago.

Down 33.2% from a year ago.

Number of New Condo/Townhome Listings: 704

Down 4% from a month ago

Down 31.6% from a year ago.

Single Family Homes without offers at end of period: 3,737

Down 10.9% from a month ago

Up 53.1% from a year ago.

Units Sold this Period: 1,962

Down 16.9% from a month ago

Down 34.6% from a year ago

53.6% of all single-family homes sold within the first 30 days.

Up from 49.6% a month ago and down from 87.2% a year ago

Months of Inventory Available:

Single-family homes: 1.9 months

Condos/Townhouses: 1.8 months

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