Las Vegas Housing Market Update – April 2021. Welcome to the April issue of our monthly market update for Southern Nevada. In this issue we will be going over March 2021 numbers.
There were 3,726 single-family houses that sold in March, up 34.7% from February and up 35.1% from March 2020.
The median sales price of previously owned single-family homes, went from $355,000 in February to $363,000 in March, which is up 2.3% from last month and up 13.8% from the prior year.
If you are thinking about selling, NOW is STILL an ABSOLUTELY AMAZING TIME TO SELL. Buyers are thirsty for inventory, and you are not competing with as many sellers!
Last month in the Luxury Market there were 159 homes that sold for $1 million and over, compared to February’s 95 homes, a 64 home increase.
The median sales price in the Luxury Market for March decreased to $1,448,880 and in February that number was $1,560,000. A $111,120 decrease in the median sales price.
So, for March we had a total of 3,566 new listings, which was up 18.2% from February, but down 1.1% from the prior year.
There were also a total number of 1,772 single-family houses listed without offers at the end of March, which is up 5.7% from February, but down 68.8% from the prior year.
As we speak there are only 2,533 single-family homes, condos and townhomes on the market. Of which, 727 of those homes are tenant occupied. Bringing that total down to 1,806 single-family, condos and townhomes actually on the market.
If you break it down even further to only single-family homes, that number is 1,387. WOW! With a population of over $2 million people in the Las Vegas Valley and we only have 1,387 homes for sale!
Which brings us to the housing supply in Southern Nevada, it is now at .5 months, (last month it was at .6 months) which is down 21.5% from February and down 76.9% from prior year.
74% of the closings for the month March was on the market 30 days or less, in February this number was at 66.7% and in March 2020, 59% of the homes were on the market 30 days or less.
If you would like to download the full report provided by Las Vegas Realtors, CLICK HERE!
Well, I hope you have enjoyed my monthly market update for April 2021.
Also, if you are thinking about buying or selling in the Las Vegas Valley, CLICK HERE or you can call me at 702-370-5112.
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