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Las Vegas Monthly Market Update
The Las Vegas Real Estate Market continues to move in a good direction, with average prices now being 4.1% above what they were this same time last year.
Nearly every monthly indicator was better in September than it was this same time last year, including Days on Market, List Price to Sales Price Ratio (nearly 1% higher than last year) the inventory is down (which is causing the prices to continue to rise) and 1 in 4 homes actually sold over list price last month.
With the slow down at the end of the 4th quarter of 2022 now squarely in the rear view mirror, the market appears primed to remain steady until interest rates decrease and will likely take off again as soon as that happens.
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