The Early Spring Surge
While the calendar says February, the Southern Nevada market is already operating at a springtime pace. We just saw a massive injection of inventory with 1,163 new homes hitting the streets in the last seven days alone—a clear signal that sellers are eager to capture the early-season demand. With 9,429 total homes currently available, buyers finally have the breathing room they’ve been waiting for. However, breathing room doesn’t mean stagnation; with 482 closed sales in just one week, the high-quality properties are still moving efficiently. If you’ve been waiting for a sign that it’s time to re-enter the market, this surge in fresh options is your green light.
RESIDENTIAL AVERAGE PRICE
Rolling 12-month period, along with percentage increase or decrease from the previous year.-
$596,559 Last Year
-
2.7% Increase
RESIDENTIAL HOMES SOLD
Rolling 12-month period, along with percentage increase or decrease from the previous year.-
33,314 Last Year
-
-7.7% Decrease
CURRENT NUMBER OF
RESIDENTIAL OFFERINGS AVAILABLE NOW
RESIDENTIAL MEDIAN PRICE
Rolling 12-month period, along with percentage increase or decrease from the previous year.-
$475,000 Last Year
-
1.1% Increase
-
Las Vegas Single Family Residences 4,070
-
Henderson Single Family Residences 1,310
-
North Las Vegas Single Family Residences 614
-
Condos 1,417
-
Townhomes 1,124
-
Manufactured Homes 291
-
Coming Soon Listings 110
-
Total Under Contract 3.025
-
Total REO/Bank Owned 67
-
Total Short Sales 84
-
Total NOD/Foreclosures 47
-
Total Homes Priced $750K or More 1,807
-
Total Homes Priced $300-$750K 5,870
-
Total Homes Priced $300K or Less 1,805
-
Total Expired in the Last 30 Days 740
-
Total Sold in the Last 30 Days 1,940
-
Average Days On Market 45
-
Months Supply of Available Inventory 4.6
Strategic Equity: Navigating the Shift
With the median sales price holding steady at $480,000 (up 1.1% from last year), your home equity remains remarkably resilient despite the increase in competition. However, seeing 885 price reductions this past week tells us that the market is rewarding the strategic and the prepared while punishing those who overreach on their initial ask. For sellers, this means precision pricing is more critical than ever to stay under the 45-day average on market. For buyers, the 1,807 homes priced at $750K+ and the rise in inventory across the board represent a unique window of leverage. Whether you’re looking to cash out or move up, the current data suggests that success this season will be defined by a data-driven strategy rather than guesswork.
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