It’s the end of August 2020 and the Las Vegas Real Estate Market is strong. The median list price in Vegas is $394,900 which is a slight increase over last month. There were 3, 446 single-family homes listed in the city of Las Vegas.

Las Vegas Real Estate Market Report

August 2020

It’s Seller’s Market in Vegas right now. We are seeing multiple offers again and not even getting counter-offers. Interest rates are so low and buyers want more space after spending so much time at home. Advantage Sellers means now is the time to get those homes on the market for top dollar!

August 2020

Median List Price$394,900
Per Square Foot$187
Days on Market108
Price Decreased33%
Price Increased6%
Relisted9%
Inventory3,446
Median Rent$1,600
Most Expensive$29,900,000
Least Expensive$124,900
Market Action49
Strong Seller’s Market

You can access a real estate market report for your zip code here.

If you need to sell your house, call or text us at 702-604-7739 for an expert analysis on how much you could get today.


2020 Las Vegas Home Prices

MonthSale Price, Median
Jan$300,000
Feb$315,000
Mar$310,950
Apr$307,750
May$310,000
Jun$322,000
Jul$325,000
Property SubtypeSale Price, Median
Single Family Residential$314,000
Townhouse$214,250
Manufactured Home$155,000
Condominium$150,000

Previous Years

  • 2015: $216,800
  • 2016: $237,800
  • 2017: $266,800
  • 2018: $294,600
  • 2019: $310,000

Las Vegas Real Estate Market

Median Price of a single-family home sold in 2020

MonthSale Price, Median
Jan$300,000
Feb$315,000
Mar$310,950
Apr$307,750
May$310,000
Jun$322,000
Jul$325,000

This is an average for single-family homes sold in Las Vegas in 2019

MonthSale Price, MedianList Price, Median
Jan$300,736$307,500
Feb$293,000$309,000
Mar$300,000$310,000
Apr$295,000$320,000
May$299,000$319,900
Jun$300,000$319,000
Jul$303,000$315,000
Aug$305,000$319,900
Sep$310,000$319,900
Oct$305,000$325,000
Nov$302,000$315,000
Dec$310,000$320,000

North Las Vegas Home Prices 2020

The Median sales price for a single-family home in North Las Vegas at the end of 2019 was $275,000, $225,000 for a townhouse and $160,000 for a condo.

Here are the home prices for a single-family home sold in North Las Vegas during the first quarter of 2020.

MonthSale Price, Median
Jan$279,000
Feb$285,000
Mar$293,250
Apr$285,000
May$300,000
Jun$298,000
Jul$293,795

Henderson Home Prices 2020

At the end of 2019, a single family home in Henderson sold for $355,000, a Townhome for $242,000, a Condo for $183,750 and a manufactured home for $165,000.

Here are the median home prices for homes sold in Henderson so far in 2020.

MonthSale Price, Median
Jan$359,450
Feb$363,120
Mar$373,000
Apr$359,888
May$365,000
Jun$382,500
Jul$378,500
Is it a Good Time To Sell Your House In Las Vegas

Las Vegas doesn’t have the seasonality changes that affect some markets. Spring is certainly the most popular time to buy and sell a house in Las Vegas.

It’s always a good time to sell in Las Vegas when you consider months, yet times, when inventory is lower, can entice more buyers.

We see the highest number of real estate listings taken in the Months June through October and then they taper off. Winter has the least amount of listings and while buyers tend to be in shorter supply, those that are shopping are generally serious buyers. And homes look amazing during the holidays in Las Vegas.

That being said, in the winter months, we do see a close price to list price ratio drop by 2% indicating sellers dropping prices towards the end of the year.

In this chart, you can see the total number of listings per month in Las Vegas indicating when sellers tend to put their homes on the market.

What’s interesting to consider, however, is that December of last year saw the highest average price per square foot of a home sold that year.

In this 2019 chart, you can see the total number of listings per month in Las Vegas indicating when sellers tend to put their homes on the market.

What is the Average Cost For a House In Las Vegas

Lori Ballen REALTOR® reports that a single-family house located directly in the city of Las Vegas has an average sales price of $300,000. This is not including condo sales, townhome sales, or sales in nearby cities such as Las Vegas and Henderson.Chart of Average Single Family Home Prices in Las Vegas for the past 5 years

Is the Las Vegas Real Estate Market Going To Crash in 2020

Some real estate experts are predicting a potential housing market crash in 2020 due to politics and the potential of rising interest rates. Realtor.com predicts a decline in home sales of as much as 11% and a decline in home values overall.

That being said, the end of 2019 saw stable home values, ample home sales, and new construction builds which is always a positive sign in the real estate market.

In Which Month in Las Vegas Does a House Sell The Fastest?

According to the average statistics posted by Lori Ballen, a Las Vegas REALTOR®, July homes sold at an average of 35 days is the fastest in 2019, and homes sold in December had the longest days on market at an average of 45 days.

Single Family homes have a shorter “days on market” average as you can see in this graph for the Las Vegas housing market in 2019. When we look at single-family home sales, December sales were on the market for the highest number of days at 32 and June sales had the lowest average days on market at 23 days.
Single Family homes have a shorter day on market average as you can see in this graph for the Las Vegas housing market in 2019.

Is it a Buyers or Sellers Market in Las Vegas?

At the end of 2019, Lori Ballen REALTOR® reported that Las Vegas had 3 months of inventory in the real estate market which would be called a seller’s market. The entire year was at a 3 to 4-month inventory pace. We consider 6 months of inventory a balanced market.
Months of Inventory for single family houses in Las Vegas for the past 5 years indicating a sellers market

Who Can I Call to Sell My House in Las Vegas?

Call Lori Ballen Team at 702-604-7739 to buy or sell a house in Las Vegas, North Las Vegas, or Henderson, NV. Lori’s team is one of the top referred and preferred real estate teams in the Greater Las Vegas Area.
Lori Ballen Team is one of the top referred and preferred teams of Las Vegas.

Are Home Values in Southwest Las Vegas Increasing?

The southwest area of Las Vegas is booming. In December of 2015, the median home price for a single-family home in the Southwest part of Las Vegas was $248,000. In December 2018, the median sales price for a single-family property in Southwest Las Vegas was $340,000. The southwest area of Las Vegas is booming. In December of 2015, the median home price for a single-family home in the Southwest part of Las Vegas was $248,000. In December 2018, the median sales price for a single-family property in Southwest Las Vegas was $340,000.

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