Las Vegas Real Estate Market Update: November 27th

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, knowing the latest trends can give you an edge. So, what’s been happening in Vegas this past week? Buckle up—we’re diving into the numbers, the vibe of the market, and what it all means for you heading into the holiday stretch.

Key Market Insights This Week

Before we get into the nitty-gritty, let’s highlight some major takeaways from this week’s activity:

• 99% of List Price Received – Sellers are still holding strong value, but buyers are getting a little breathing room.
• 43 Average Days on Market – Homes are selling steadily, not instantly—buyers have time to think.
• 41 Weeks of Supply – Inventory is high, which leans buyer-friendly and rewards smart shopping.
• 341 New Listings – Fresh options keep hitting the market, even in holiday season.
• 6,777 Active Listings – Plenty of choices across price points and neighborhoods.
• 163 Homes Sold This Week – A seasonal slowdown, but still consistent movement.
• 283 Homes Under Contract – Strong future pipeline; buyers haven’t disappeared.
• $585,241 Average Weekly Sales Price – A stable mid-market price level for Vegas.
• $2,600,000 Highest Sale This Week – Luxury is still doing luxury things.

Home Prices: Are They Rising or Falling?

Las Vegas home prices stayed pretty steady this week with an average sales price of $585,241. That number tells us demand is still alive and well—especially for homes that are priced right and show well.

Now, does that mean prices are about to shoot up again? Not necessarily. With inventory sitting at 41 weeks of supply, buyers have more options, which naturally keeps prices from running away. Think of it like a buffet: when there’s a lot to choose from, people don’t rush to grab the first plate they see. They compare. They wait. They negotiate.

That said, homes that are updated, staged nicely, and priced realistically are still getting strong offers. The market may be calmer, but it’s not sleepy.

Days on Market: How Fast Are Homes Selling?

Homes averaged 43 days on market this week. That’s a meaningful shift from the “sell in a weekend” chaos we saw a couple years back.

For buyers, this is great news. You can actually tour a home, sleep on it, and come back without feeling like you’re in a reality show elimination round. For sellers, it means strategy matters more than ever. Overpricing your home right now is like showing up to a poker table with a bad hand and acting confident—eventually the market calls your bluff.

Bottom line: the market is moving, just at a healthier and more realistic pace.

Inventory Levels: Are There Enough Homes for Buyers?

Short answer? Yes. Big yes.

We saw 341 new listings this week, pushing total inventory to 6,777 active homes. That’s a lot of doors to open, neighborhoods to explore, and price points to compare.

And that 41 weeks of supply number? That’s a strong signal that buyers have leverage. More supply means less frenzy. Less frenzy means more negotiating room. It also means sellers need to work a little harder to stand out—pricing, condition, curb appeal, photos, and marketing aren’t optional anymore. They’re the whole game.

Sales Volume: How Many Homes Are Changing Hands?

This week, 163 homes sold. That’s a steady number considering we’re right in the middle of holiday season when people are distracted by travel, family plans, and end-of-year budgets.

Even more important: 283 homes went under contract. That tells us buyers are still actively making moves—they’re just doing it with intention, not panic. This under-contract activity is like seeing a line form outside a restaurant before it opens. Closings are coming.

So yes, the market is slowing seasonally, but it’s not stalling.

How This Week Compares to Last Year

Market Trends Year Over Year

‍We don’t have the exact year-over-year numbers listed in this week’s recap, but here’s what the current data suggests compared to typical this-time-last-year behavior:

• Higher supply (41 weeks) points to a more balanced, less competitive environment.
• Longer days on market (43 DOM) signals buyers taking their time instead of rushing.
• List-to-sale ratio at 99% shows sellers are still strong, but buyers have negotiating space.

So overall, we’re seeing a market that feels more “normal” than the wild swings of recent years. Not a crash. Not a boom. Just a steady, negotiation-friendly landscape.

The Role of Interest Rates in the Market

Rates still matter. Even when buyers love a home, the monthly payment decides whether they pull the trigger. The cool part is that buyers and sellers are adapting—rate buydowns, seller credits, and creative financing conversations are way more common now. The market isn’t frozen by rates; it’s just adjusting to them.

What This Means for Buyers and Sellers

Advice for Buyers: Navigating the Market
• With inventory high, shop smart and compare options—you don’t need to settle fast.
• Negotiate based on facts, not feelings. The data supports reasonable offers.
• Pay attention to days on market. Homes sitting past the average may be overpriced, giving you leverage.
• If a home is priced right and looks great, move decisively. Those still get snapped up.

Advice for Sellers: Maximizing Your Sale
• Price it right from day one. Buyers are picky right now because they can be.
• Presentation wins. Staging, clean landscaping, and great photos aren’t extras—they’re necessities.
• Expect a longer runway. 43 days average means patience + strategy.
• Work with an agent who knows how to market in a high-inventory environment. That’s where the edge is.

Spotlight on Las Vegas Neighborhoods

Most Popular Areas for Buyers
Even in a shifting market, these areas keep drawing attention:
• Summerlin – Lifestyle, master-planned living, and strong long-term value.
• Henderson – A mix of luxury and affordability with great community feel.
• Southwest Las Vegas – Modern builds, convenience, and growing demand.

Hidden Gems for Great Deals
If you want value and upside, these areas are worth watching:
• North Las Vegas – More affordability with new developments expanding fast.
• Downtown Las Vegas / Arts District edges – Urban energy, revitalization, and walkability.

Different neighborhoods are behaving differently right now—so zooming into the micro-market matters more than ever.

Market Predictions: What Lies Ahead

Home Prices: Stability or Growth?‍

With prices holding near $585K and sellers still getting 99% of list, the short-term outlook looks stable. Don’t expect fireworks, but don’t expect big drops either. Think steady steps, not giant leaps.

Inventory Projections for the Coming Months‍

Inventory is likely to stay elevated through December and into early winter. That keeps the market balanced and gives buyers continued leverage. Once spring approaches, we’ll probably see demand pick up again—but for now, buyers have room to breathe.

Conclusion‍

This week’s Las Vegas real estate market was steady, balanced, and buyer-friendly in all the right ways. Sellers are still getting strong value (99% list-to-sale), buyers have lots of choice (6,777 active listings and 41 weeks of supply), and the market is moving at a healthy pace (43 days on market). Luxury remains active too, led by a $2.6M top sale and a solid stream of high-end activity.

Whether you’re buying, selling, or just watching the trend lines, the main takeaway is this: Vegas is giving everyone options right now. The winners are the ones who move with a plan.

FAQs

Is it a buyer’s or seller’s market right now?
It leans buyer-friendly due to high inventory and 41 weeks of supply, but sellers still have strength if they price correctly.
Will home prices drop in Las Vegas?
Prices look stable right now. Higher inventory may limit big jumps, but strong demand is keeping values steady.
How long do homes take to sell in Las Vegas?
This week, homes averaged about 43 days, which is a normal, healthy pace.
Should I sell my home now or wait?
If your home is priced right and presented well, now is still a solid time to sell. Buyers are active—they’re just choosing carefully.
What’s happening in the Las Vegas luxury market?
Luxury is steady and patient. Top sale was $2.6M, average luxury price was $1.65M, and properties took around 60 days to sell.

Luxury Market Spotlight: $2.6M Sale of the Week‍

Las Vegas luxury continues to be its own ecosystem, and this week it showed up strong.

The most expensive home sold this week hit $2,600,000. Homes over $1M averaged a sales price of $1,647,885, with an average of 60 days on market—which is totally normal for luxury. Higher-end buyers aren’t rushing; they’re shopping carefully and waiting for “the one.”

Luxury inventory snapshot this week:
• 1,228 active luxury listings
• 51 newly listed
• 13 sold
• 23 under contract

So while luxury homes take longer to sell, the segment is clearly active. High-end properties in the right locations with the right finishes are still getting attention and closing deals.
Want a deeper look at luxury trends and listings? Check out bkgluxury.com.