Las Vegas Real Estate Market Overview [2024]

Las Vegas Real Estate Market Overview 2024

As we move through 2024, the Las Vegas real estate market shows notable trends that potential buyers and investors should be aware of. The median home price has consistently risen, reaching $475,000 in June, up from $445,000 in January. This reflects strong demand, even as the number of homes sold slightly decreased. Inventory levels have risen to two months' worth, giving buyers more choices, yet homes are still selling quickly—71.6% in less than 30 days.

For condos and townhomes, the market remains steady, with a median price of $295,000 as of June. Although there was no price change from May, the market is up from $275,000 the previous year. Inventory remains moderate at 2.3 months, and just over 61% of units sold within 30 days.

Overall, Las Vegas continues to be a strong market for both single-family homes and condos/townhouses, with steady price increases and relatively fast sales. As the year progresses, buyers can expect continued competition, while sellers may benefit from the ongoing demand.

If you're considering buying or selling in the Greater Las Vegas area, now is the time to take advantage of the market trends. Call me at 305-608-3543 or email me at [email protected] to schedule your buyer consultation.