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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, staying current with weekly trends can give you a real advantage. So, what’s happening in Vegas this past week? Buckle up—we’re diving into the latest data, expert insights, and what it all means for your next move.
Key Market Insights This Week
Before we break things down in detail, here are the biggest takeaways from this week’s market activity:
- 97% of List Price Received – Sellers are negotiating slightly, but still getting close to asking.
- 41 Days on Market – Homes are taking just over a month to sell.
- 18 Weeks of Supply – Leaning toward a more buyer-friendly market.
- 623 New Listings – Plenty of fresh options hitting the market.
- 6,906 Active Listings – A wide selection for current buyers.
- 375 Homes Sold This Week – Strong weekly volume.
- 459 Homes Under Contract – Buyers are still making moves.
- $655,847 Average Weekly Sales Price – Reflecting strong buyer activity across price points.
- $17,600,000 Highest Sale This Week – Luxury homes continue to lead the market.
Home Prices: Are They Rising or Falling?
The average weekly sales price clocked in at $655,847, showing that pricing remains solid across the board. This reflects healthy demand, especially in mid-tier and high-end homes.
While we aren’t seeing dramatic spikes, home values are holding firm—particularly for properties that are well-maintained, updated, and priced correctly. Buyers should note: underpricing is rare. And for sellers, it’s proof that smart pricing still wins.
Days on Market: How Fast Are Homes Selling?
This week, homes spent an average of 41 days on the market. That’s a slight increase from the ultra-competitive years of 2021–2022, but it still indicates a steady, predictable pace.
For buyers, that means less pressure to rush—there’s time to view homes, compare options, and negotiate. For sellers, however, it’s a gentle reminder: if your home is lingering on the market, it might be time to revisit your pricing or presentation strategy.
Inventory Levels: Are There Enough Homes for Buyers?
The market welcomed 623 new listings this week, contributing to a total of 6,906 active homes on the market. This increase gives buyers more variety—and a bit more control.
With 18 weeks of supply, Las Vegas is nearing a buyer-leaning market, especially for homes above $700K. More choices for buyers usually means slightly longer selling times and more competitive pricing strategies for sellers.
Sales Volume: How Many Homes Are Changing Hands?
A total of 375 homes sold this week, while 459 went under contract. These are solid numbers that signal consistent activity and buyer confidence, even with interest rates staying on the higher side.
The uptick in under-contract homes shows that active shoppers are serious. If you're a seller thinking of listing soon, these numbers suggest a good window of opportunity.
How This Week Compares to Last Year
Market Trends Year Over Year
Here’s how the market compares to the same week in 2024:
- Active Listings: 6,906 now vs. 5,720 then
- Homes Sold: 375 vs. 328
- Under Contract: 459 vs. 398
This growth indicates a maturing market that’s balancing out from the extreme highs and lows of past years.
The Role of Interest Rates in Buyer Decisions
Rates are still a hot topic. Many buyers are adapting by using strategies like rate buydowns, adjustable-rate mortgages (ARMs), or negotiating seller credits to offset costs. The bottom line? People are still buying, but they’re shopping smarter.
What This Means for Buyers and Sellers
Advice for Buyers: Play It Smart
- Take advantage of increased inventory—more homes = better options.
- Negotiate strategically—especially if a home has been on the market longer than 30 days.
- Focus on location and value—those never go out of style.
Advice for Sellers: Show Up Strong
- Price it right the first time—buyers are informed and selective.
- Stage your home and invest in great listing photos—presentation still matters.
- Work with a market-savvy agent who understands current buyer behavior and luxury trends.
Spotlight on Las Vegas Neighborhoods
Most Popular Areas for Buyers
- Summerlin – Family-friendly, upscale, and full of modern amenities.
- Henderson – A beautiful blend of luxury and affordability with top schools and parks.
- Southwest Las Vegas – Booming with new developments and great access to freeways.
Hidden Gems for Great Deals
- North Las Vegas – New construction meets affordability.
- Downtown Las Vegas – A growing hotspot for walkability, nightlife, and investment.
Market Predictions: What Lies Ahead
Home Prices: Stability or Growth?
Expect prices to remain steady through the summer with slight increases in prime neighborhoods like Summerlin, Green Valley, and The Summit.
Inventory Forecast
Inventory is expected to continue climbing modestly, giving buyers even more flexibility. This may place slight pressure on sellers to differentiate their homes with updates or price incentives.
Conclusion
The Las Vegas real estate market remains active, healthy, and full of opportunity. Whether you’re eyeing a cozy condo or a luxurious estate, understanding the data behind the headlines helps you make smart, strategic decisions.
With strong weekly sales, growing inventory, and luxury homes thriving, this is a market to watch—and work within. Need help navigating it? The Brendan King Group @ REAL is your go-to resource for expert guidance.
FAQs
1. Is it a buyer’s or seller’s market right now?
Currently, it's a balanced to slightly buyer-friendly market, thanks to rising inventory and stable pricing.
2. Will home prices drop in Las Vegas?
Prices are holding firm. Minor fluctuations may occur, but major drops are unlikely unless interest rates spike again.
3. How long do homes take to sell in Las Vegas?
On average, homes are selling in 41 days, giving buyers and sellers time to negotiate smartly.
4. Should I sell my home now or wait?
If your home is move-in ready and priced right, now is a great time to sell. Buyers are active, and inventory is up.
5. What are the best areas to buy a home in Las Vegas?
Summerlin, Henderson, Southwest Vegas, and Downtown remain top picks based on lifestyle, amenities, and investment potential.
AREYOU LOOKING FOR A HOME OVER $1,000,000 CHECK OUT OUR LUXURY DIVISION WWW.BKGLUXURY.COM
Luxury Market Spotlight: $17.6M Sale of the Week
Biggest Sale of the Week: A $17.6 Million Estate
Luxury real estate in Las Vegas continues to dazzle. The most expensive home sold this week closed at an astounding $17,600,000, highlighting the enduring strength of the ultra-luxury segment.
Luxury Market by the Numbers
- Average sale price (over $1M): $2,627,519
- Luxury homes sold: 26
- New luxury listings: 69
- Luxury under contracts: 45
- Active luxury listings: 1,246
- Average DOM for luxury homes: 64 days
Despite longer market times, luxury homes continue to attract high-end buyers, especially in desirable communities like The Ridges, Summit Club, and MacDonald Highlands.
To receive the Market Updates weekly
Text: Market To: 702-553-1955
Brendan King S.0171492
The Brendan King Group
Office: 702-625-3457
Email: info@kingvegashomes.com
Website: https://www.kingvegashomes.com/
Real Broker, LLC
7997 W. Sahara Ave. #101 Las Vegas, NV 89117
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