Las Vegas Housing Market Update – May 2021. Welcome to the May issue of our monthly market update for Southern Nevada. In this issue we will be going over April 2021 numbers.
There were 3,528 single-family houses that sold in April, down 5.3% from March and up 79% from April 2020.
The median sales price of previously owned single-family homes, went from $363,000 in March to $375,000 in April, which is up 3.3% from last month and up 21% 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 143 homes that sold for $1 million and over, compared to March’s 159 homes, a 16 home decrease.
The median sales price in the Luxury Market for April increased to $1,540,000 and in March that number was $1,448,880. A $91,120 increase in the median sales price.
So, for April we had a total of 3,699 new listings, which was up 3.7% from March and up 47% from the prior year.
There were also a total number of 1,827 single-family houses listed without offers at the end of April, which is up 3.1% from March, but down 69.8% from the prior year.
Which brings us to the housing supply in Southern Nevada, it is now at .5 months, which is up 8.9% from March and down 83.1% from prior year.
81.5% of the closings for the month April was on the market 30 days or less, in March this number was at 74% and in April 2020, 69.5% of the homes were on the market 30 days or less.
Las Vegas Realtors Market Report: https://bit.ly/3eze0yq
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