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Nevada Real Estate News

What is the Average Price Range in Las Vegas?

Including only Single Family Homes, 2017 ended with a Las Vegas Average Price Range of $297,290. We are using the average here instead of the median where the highest price and lowest price homes are removed.

Primary Year Sale Price, Average
2013 $214,120
2014 $237,430
2015 $255,105
2016 $267,647
2017 $297,290

Las Vegas Housing Market Predictions 2018

Here’s a look at the Las Vegas Real Estate Market for January 2018. According to a report released on January 6th by the Greater Las Vegas Association of REALTORS® (GLVAR), 2017 ended on a strong note for the Vegas real estate market and home sales.

From December of 2016 to December of 2017, the median price range for homes in Las Vegas went up by 14 percent.

December saw a total of 3,204 condominiums, townhomes, and single family homes sell. When you compare last year’s homes sold during the month of December, there’s a 3.5 percent decrease in sales. The median price range of houses that sold in Las Vegas during the month of December was $267,900. The housing market in Las Vegas is strong!

This amount shows an increase of 14 percent from December 2016. We’re seeing the best selling year since 2011 as we end 2017 and move into the new year. We saw 46,598 properties sell in 2017, which is up from the 41,720 properties sold in 2016. Read More Here!

Others Have Asked
If you are thinking of selling and wonder how much your house might sell for in today’s Las Vegas Real Estate Market, use this instant home value estimate or call 702.482.7739. We serve Henderson, North Las Vegas, and Las Vegas and have partners across the nation as well.

Existing Home Sales for Jan 2018

Property Subtype Sales, Number of
Single Family Residential 1,719
Condominium 254
Townhouse 165
Manufactured Home 49

Average Time on Market for Las Vegas Listings

At the end of 2017, the average days on market for a house in Las Vegas was 40 days.

Graph showing the average days on market for Las Vegas for the past 5 years

 

Active Number of Listings in Las Vegas for the past 5 years through 2017.

At the beginning of January 2018, Las Vegas shows ONLY 5,896 single family homes on the market which is the lowest out of the 5 years displayed.

Active Listings, Number of
Month 2013 2014 2015 2016 2017
Jan 10,439 11,469 11,179 10,186 8,532
Feb 10,064 11,418 11,046 10,358 8,297
Mar 9,589 11,460 11,055 10,318 8,243
Apr 9,884 11,364 11,130 10,037 7,845
May 10,002 11,390 11,079 9,931 7,718
Jun 10,158 11,627 11,310 10,220 7,738
Jul 10,643 11,691 11,317 10,349 7,715
Aug 11,441 11,834 11,496 10,438 7,596
Sep 12,110 12,244 11,588 10,424 7,314
Oct 12,500 12,411 11,459 10,048 7,208
Nov 12,310 12,017 10,974 9,620 6,762
Dec 11,784 11,539 10,391 8,710 5,896

Average List to Close Price

At the end of 2017, the average list to close price was 99.3% indicating a strong seller’s market.

Real Estate Statistics

Statistics are gathered from the December 2017 National Association of REALTORS® (NAR) Confidence Report. These statistics are gathered through surveys provided by 50,000 real estate agents and brokers.

US Map of colored states depecting predicted strength of the real estate market

  • 1st time home buyers accounted for 32 percent of sales
  • 16% of the sales were vacation and investment buyers
  • Only 5% of the sales in 2017 were distressed (short sales, foreclosures)
  • 20% of the real estate sold was purchased with cash
  • 20% of sellers made contributions to the buyers closing costs
  • Popular opinion says market will continue to improve
  • Las Vegas Real Estate Market is Strong
  • Nevada and Washington are predicted to be the markets with the highest increase in home values
  • Biggest Challenge the market is facing: limited inventory
January 2018

Clark County Median Price Range (past 5 years)

The Median price range for single family sales in Clark County, NV was $256,000 at the end of 2017.

Primary Year Sale Price, Median
2013 $173,000
2014 $199,000
2015 $216,000
2016 $230,000
2017 $256,000

North Las Vegas Housing Market

At the end of 2017, calculating single-family home sales, the median home price in North Las Vegas was $236,000

Primary Year Sale Price, Median
2013 $157,000
2014 $179,900
2015 $194,500
2016 $210,000
2017 $236,000

Henderson Market Values

Henderson closed out with the highest median price range of $305,000.

Primary Year Sale Price, Median
2013 $220,000
2014 $248,000
2015 $267,888
2016 $282,478
2017 $305,000

Vegas Housing Market Reports from 2018

January 2018

Market Reports from 2017

January 2017February 2017March 2017
April 2017May 2017June 2017
July 2017August 2017September 2017
October 2017November 2017December 2017

Market Reports from 2016

March 2016April 2016May 2016
June 2016July 2016August 2016
September 2016October 2016November 2016
December 2016

Year-to-Year Comparison of Property Types & Prices

yearly comparison real estate market chart

Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.

 

Summary
Las Vegas Real Estate Market Report - This Month 2017
Article Name
Las Vegas Real Estate Market Report - This Month 2017
Description
At the end of the month, there were 5,951 single-family homes on the market in Las Vegas. Read More about what's happening in the Las Vegas Real Estate Market here.
Author
Publisher Name
Ballen Network at Keller Williams Realty
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