Las Vegas Real Estate Market Update: January 15th

If you're keeping an eye on the Las Vegas real estate market, this update is for you! Whether you're buying, selling, or investing, understanding the latest trends can give you a real advantage—especially as the year gains momentum. So, what happened in Vegas this past week? Let’s break down the numbers, the shifts, and what it all means for you moving forward.

Key Market Insights This Week‍

Before we get into the details, here are the major highlights from this week’s market activity:

‍99% of List Price Received – Sellers are still securing strong pricing, with minimal concessions.
• 53 Days on Market – Homes are taking longer to sell, giving buyers more breathing room.
• 19 Weeks of Supply – Inventory is tightening, nudging the market closer to seller-friendly territory.
• 535 New Listings – Sellers continue to enter the market with confidence.
• 6,018 Active Listings – Buyers still have plenty of options across the valley.
• 309 Homes Sold This Week – Strong sales volume for mid-January.
• 473 Homes Under Contract – A very active pipeline pointing to continued momentum.
• $707,901 Average Weekly Sales Price – Prices jumped notably this week.
• $17,000,000 Highest Sale This Week – A record-setting luxury sale grabbed attention.

Home Prices: Are They Rising or Falling?

Las Vegas home prices showed upward movement this week, with an average sales price of $707,901. This jump doesn’t mean every home suddenly increased in value, but it does highlight strong demand—particularly for higher-end and move-in-ready properties.

So, are prices rising across the board? Not exactly. What we’re seeing is selective growth. Homes that are priced right, well-maintained, and located in desirable areas are commanding higher prices, while overpriced listings still face resistance.

Days on Market: How Fast Are Homes Selling?

Homes spent an average of 53 days on the market this week, reinforcing the idea that buyers are no longer rushing into decisions.

For buyers, this means time to compare options, negotiate terms, and make confident choices. For sellers, it underscores how critical pricing and presentation have become. Homes that miss the mark tend to linger, while well-positioned listings still attract strong interest early on.

Inventory Levels: Are There Enough Homes for Buyers?

The market added 535 new listings this week, bringing total active inventory to 6,018 homes. That’s still a healthy amount of choice for buyers, even as overall supply tightens.

With 19 weeks of supply, the market is edging closer to balance and slightly favoring sellers. Buyers still have options, but competition is slowly increasing—especially in popular price ranges and neighborhoods.

Sales Volume: How Many Homes Are Changing Hands?

This week saw 309 homes sold, which is a strong showing for January. It signals that buyers aren’t just browsing—they’re pulling the trigger.

Even more telling, 473 homes went under contract. That level of contract activity suggests continued movement in the coming weeks and points to sustained buyer confidence heading into late January and early February.

How This Week Compares to Last Year

Market Trends Year Over Year

While exact year-over-year figures aren’t included in this snapshot, the current data tells a clear story. Inventory is tighter, prices are higher, and buyer activity—especially under contract—is strong. Compared to the slower, uncertain conditions seen in previous years, today’s market feels more confident and more intentional.

The Role of Interest Rates in the Market

Interest rates continue to shape buyer behavior, but they’re no longer freezing the market. Buyers and sellers are adapting through seller credits, rate buydowns, and creative deal structures. Instead of stopping deals, rates are simply changing how they’re negotiated.

What This Means for Buyers and Sellers

Advice for Buyers: Navigating the Market

• Move decisively on well-priced homes, especially in high-demand areas.
• Use days on market as leverage when negotiating terms.
• Focus on value and long-term fit, not just price headlines.

Advice for Sellers: Maximizing Your Sale

• Price your home correctly from the start to attract serious buyers.
• Invest in staging, curb appeal, and professional photos to stand out.
• Work with an experienced agent who understands how to market in a tightening inventory environment.

Spotlight on Las Vegas Neighborhoods

Most Popular Areas for Buyers

• Summerlin – Consistently strong demand driven by lifestyle and amenities.
• Henderson – A balance of luxury and livability that appeals to a wide range of buyers.
• Southwest Las Vegas – Modern homes and convenience continue to draw attention.

Hidden Gems for Great Deals

• North Las Vegas – Ongoing growth and affordability make this area worth watching.
• Downtown Las Vegas – Revitalized neighborhoods with urban energy and walkability.

Market Predictions: What Lies Ahead

Home Prices: Stability or Growth?

‍With average prices pushing above $700K and inventory tightening, prices are expected to remain stable with selective growth—especially in desirable neighborhoods like Summerlin and Henderson.

Inventory Projections for the Coming Months

‍Inventory may continue to tighten as we move toward spring, potentially increasing competition among buyers. Those planning to buy may benefit from acting sooner rather than later.

Conclusion

‍The Las Vegas real estate market showed real strength this week. Prices climbed, inventory tightened, and buyer activity surged—highlighted by a record-setting $17M luxury sale. Whether you’re buying, selling, or investing, the market is offering opportunity for those who stay informed and act strategically.

Thinking of buying or selling? Contact The Brendan King Group today for expert advice and personalized service!

FAQs

Is it a buyer’s or seller’s market right now?
The market is balanced but slowly leaning toward sellers due to tightening inventory.
Will home prices drop in Las Vegas?
Prices appear stable, with potential growth in high-demand neighborhoods.
How long do homes take to sell in Las Vegas?
Homes are currently selling in about 53 days on average.
Should I sell my home now or wait?
Now is a strong time to sell, especially if your home is priced correctly and well-presented.
What are the top neighborhoods to buy a home in Las Vegas?
Summerlin, Henderson, Southwest Las Vegas, and Downtown Las Vegas remain highly desirable.

Luxury Market Spotlight: $17M Sale of the Week

The luxury market stole the spotlight this week with a massive $17,000,000 sale—one of the highest we’ve seen.

Homes priced over $1M averaged a sales price of $2,465,269, with properties spending about 66 days on the market. Luxury buyers remain patient and selective, focusing on lifestyle, privacy, and long-term value rather than speed.

Luxury market snapshot this week:
• 1,069 active luxury listings
• 88 newly listed
• 35 sold
• 45 under contract

This level of activity confirms that high-end buyers are very much engaged. To explore luxury trends and listings, visit www.bkgluxury.com.