Las Vegas, NV Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are home prices dropping in Las Vegas? ›

Recent Trends in Las Vegas Home Prices

The average home value in the broader Las Vegas-Henderson-Paradise area also reflected this downward trend, reporting an 8.4% decrease over the past year, bringing the value to $404,829. These figures indicate a significant price drop in the Las Vegas real estate market.

Las Vegas Housing Appears To Be Stabilizing

Housing demands during the pandemic housing boom led to a very hot market in 2021 and 2022, although home prices cooled somewhat in 2022 due to rising interest rates. In 2023, we expect the demand for real estate to remain fairly robust, despite the slowdown.

$414,662. The average Las Vegas home value is $414,662, up 4.3% over the past year and goes to pending in around 19 days.

Median Sale and List Prices. Recent statistics indicate that the median sale price of homes in Las Vegas has seen a significant year-over-year increase, with homes selling for a median price of $415,000 in January 2024.

Buying a home in Las Vegas has its merits. From the relatively affordable cost of living to the potential for property value appreciation, many factors make Las Vegas appealing. If you're considering a single-family home, the city offers a variety of options catering to different tastes and budgets.

Las Vegas's median sale price is 3% higher than the national average. Overall cost of living in Las Vegas is 2% lower than the national average. Learn which home features in Las Vegas add value to a home.

Las Vegas offers promising investment potential for residential properties. According to sources like BiggerPockets, rental yields in Las Vegas can range between 6% and 10%, making it a competitive market for rental income. Rental yields can be attractive, particularly for short-term rentals catering to tourists.

With a median sale price of $404,967 and a median list price of $448,333, Las Vegas presents a competitive landscape for both buyers and sellers. However, the percent of sales over list price indicates strong demand, suggesting that sellers currently hold a favorable position.

The Lakes. Located on the western side of the Valley, The Lakes is a popular neighborhood for retirees in Las Vegas! This master-planned community is located 20 minutes from Downtown LV, so it's ideal for those looking to escape the city center.

What is the nicest part of Las Vegas? ›

The nicest neighborhood in Las Vegas might be subjective, but in many cases, people seem to view Summerlin, Green Valley Ranch, Green Valley South, and Lake Las Vegas as some of the nicest places to call home in Las Vegas.

In Las Vegas, the average time to sell a house is a tapestry woven with various threads. Current data points to an average of around 60-90 days on the market, from listing to closing.

According to a 2023 study by Empower, a financial services company, Las Vegas ranked as the top spot for retirement thanks to its affordability, tax friendliness to retirees, ease of access to health care, and of course, its year-round sunshine.

Nevada's housing market is still feeling the effects of COVID. Realtors expect interest rates to drop, but costs remain about $100K more than 2020 levels.

Nevada Home Prices

6% higher than in the second quarter of 2023. The average home sale price in the area was $478,355. ❱ Compared to the second quarter, more than half of the neighborhoods saw a drop in median list prices, which are a leading indicator of the housing market.

Las Vegas offers unique advantages for investors due to its combination of a land shortage, sustained and significant population growth, and a rapidly expanding economy. This combination almost guarantees: Your rental income will outpace the cost of living. You will not outlive your rental income.