Las Vegas Real Estate Market Report 2021
With limited inventory in the greater Las Vegas area, home prices are still climbing. The Las Vegas housing market is crazy. It’s a seller’s market. Buyers must be motivated, qualified, and act quickly. Multiple offers are likely. Average home prices in Las Vegas are escalating quickly. New home construction is booming, but many builders are 6 months to 1 year out of selling completed homes.
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2021 Housing Market Values
The average single family home in the city of Las Vegas is selling for around $350,000 and climbing.
| Month | Sale Price, Median |
|---|---|
| Jan | $339,944 |
| Feb | $350,000 |
| Mar | $357,450 |
2021 Listing Volume
This is for the city of Las Vegas and includes only single family properties.
| Month | Active Listings, $ Volume |
|---|---|
| Jan | $1,989,250,954 |
| Feb | $1,688,208,091 |
| Mar | $1,599,059,182 |
Las Vegas Inventory
These are the available single family properties available for sale.
| Month | Active Listings, Number of |
|---|---|
| Jan | 3,180 |
| Feb | 2,537 |
| Mar | 2,329 |
Close to List Price Ratio
Properties in Vegas are frequently selling for over the list price and averaging 100%. Buyers don’t have as much room to negotiate in today’s market.
| Month | Close Price to List Price Ratio |
|---|---|
| Jan | 100.0% |
| Feb | 100.0% |
| Mar | 100.0% |
Days to Sell
| Month | Days to Sell, Median |
|---|---|
| Jan | 19 |
| Feb | 12 |
| Mar | 13 |
Price per Square Foot
*single family homes in Las Vegas
| Month | List Price by SqFt Ratio |
|---|---|
| Jan | $207 |
| Feb | $210 |
| Mar | $226 |
Greater Las Vegas Area
Here are the average home sales for Clark County, NV. The greater Las Vegas housing market is currently a seller’s market.
| Property Subtype | Sale Price, Median |
|---|---|
| Single Family Residential | $350,000 |
| Townhouse | $246,000 |
| Condominium | $165,000 |
| Manufactured Home | $155,000 |
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.
Previous Years
- 2015: $216,800
- 2016: $237,800
- 2017: $266,800
- 2018: $294,600
- 2019: $310,000
Las Vegas Real Estate Market
North Las Vegas Home Prices 2020
| Jan | $169,950 | $185,000 | $202,500 | $237,000 | $267,500 | $279,000 |
| Feb | $175,000 | $182,000 | $210,000 | $241,100 | $264,250 | $285,000 |
| Mar | $176,000 | $196,000 | $215,000 | $249,900 | $263,000 | $293,250 |
| Apr | $180,700 | $199,900 | $216,000 | $255,000 | $272,250 | $285,000 |
| May | $180,000 | $195,000 | $215,000 | $255,000 | $272,250 | $299,000 |
| Jun | $186,500 | $196,500 | $220,000 | $260,000 | $276,555 | $298,000 |
| Jul | $179,945 | $199,500 | $227,125 | $265,000 | $274,900 | $295,000 |
| Aug | $184,450 | $200,000 | $227,500 | $268,000 | $279,000 | $300,000 |
| Sep | $180,000 | $205,450 | $230,000 | $266,250 | $281,900 | $299,000 |
| Oct | $184,800 | $199,000 | $233,750 | $265,000 | $275,000 | $305,000 |
| Nov | $178,000 | $202,889 | $230,000 | $265,000 | $279,000 | $310,000 |
| Dec | $181,000 | $205,000 | $237,450 | $270,000 | $283,250 | $307,450 |
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 of 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.
It’s a seller’s market and sellers are seeing top dollar while buyers are benefiting from the extremely low-interest rates.
Lori Ballen REALTOR® reports that a single-family house located directly in the city of Las Vegas has an average sales price of $345,000. This is not including condo sales, townhome sales, or sales in nearby cities such as Las Vegas and Henderson.
We expect to see a continuation of limited inventory with the influx of out of state buyers.
Spring months are generally fast-moving months.
It’s a seller’s market with limited inventory. Buyers need to be prepared to take action fast with their best offer when buying Las Vegas Real estate in 2021.
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.
2021 should see a continued increase in home prices, limited inventory, and fast-selling homes. While some predict a switch to a buyers market based on the delinquencies in mortgages, it’s hard to say if, or when that will happen.
