Las Vegas Housing Market Update – February 2022. Welcome to the February 2022 issue of our monthly market update for Southern Nevada. In this issue we will be going over January 2022 numbers.
Southern Nevada’s fast-rising house prices set another all-time high in January, as last year’s hot streak carried over to the new year.
There were 2,561 single-family houses that sold in January, down 19.4% from December and down 2.9% from January 2021.
The median sales price of previously owned single-family homes, went from $425,000 in December to $435,000 in January; which is up 2.4% from December and up 26.1% from the prior year.
Prices last month were up $10,000 from December and $90,000 from a year earlier.
Last month in the Luxury Market there were 111 homes that sold for $1 million and over, compared to December’s 134 homes, a 23 home decrease.
The median sales price in the Luxury Market for January increased slightly to $1,475,000 and in December that number was $1,463,218. A $11,782 increase in the median sales price.
So, for January we had a total of 2,900 new listings, which was up 32.1% from December and up 2.3% from the prior year.
There were also a total number of 1,821 single-family houses listed without offers at the end of January, in December this number was 2,251, which is down 19.1% from December and down 21.3% from the prior year.
Which brings us to the housing supply in Southern Nevada, we remained at .7 months, up slightly at .4% from December but down 19% from prior year.
71.31% of the closings for the month January was on the market 30 days or less, in December this number was at 75.1% and in January 2021, 64.4% of the homes were on the market 30 days or less.
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