? Las Vegas Real Estate Market Report 2020
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.
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 Market | 108 | |
| Price Decreased | 33% | |
| Price Increased | 6% | |
| Relisted | 9% | |
| Inventory | 3,446 | |
| Median Rent | $1,600 | |
| Most Expensive | $29,900,000 | |
| Least Expensive | $124,900 | |
| Market Action | 49 | |
| 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
| Month | Sale Price, Median |
|---|---|
| Jan | $300,000 |
| Feb | $315,000 |
| Mar | $310,950 |
| Apr | $307,750 |
| May | $310,000 |
| Jun | $322,000 |
| Jul | $325,000 |
| Property Subtype | Sale 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
| Month | Sale Price, Median |
|---|---|
| Jan | $300,000 |
| Feb | $315,000 |
| Mar | $310,950 |
| Apr | $307,750 |
| May | $310,000 |
| Jun | $322,000 |
| Jul | $325,000 |
| Month | Sale Price, Median | List 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.
| Month | Sale 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.
| Month | Sale Price, Median |
|---|---|
| Jan | $359,450 |
| Feb | $363,120 |
| Mar | $373,000 |
| Apr | $359,888 |
| May | $365,000 |
| Jun | $382,500 |
| Jul | $378,500 |
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. 
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.
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.
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.
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. 
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.
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. 
