As the Las Vegas real estate market shakes off the effects of COVID-19 it faces a housing inventory crunch. The data is nothing short of amazing as inventory plummets and prices begin to rise. The information below tracks the last six months of inventory, % change year-over-year, units sold, and days-on-market for single-family homes, condos, and townhomes.
It’s a total seller market in Las Vegas! Here’s the data.
Single-Family Homes
| Month | # Listed | % Change Year-Over-Year | Median Price | % Change Year-Over-Year | # Sold | % Change Year-Over-Year | DOM | % Change Year-Over-Year |
|---|---|---|---|---|---|---|---|---|
| Sept 2020 | 4,873 | -34.6% | $340,000 | 8.0% | 3,148 | 18.4% | 13 | -16.6% |
| Oct 2020 | 4,552 | -35.5% | $343,775 | 10.9% | 3,122 | 10.7% | 14 | -28.8% |
| Nov 2020 | 3,822 | -39.9% | $349,000 | 13.3% | 2,939 | 26.1% | 14 | -29.7% |
| Dec 2020 | 3,410 | -36.8% | $345,000 | 9.5% | 3,223 | 26.7% | 16 | -27% |
| Jan 2021 | 2,323 | -51.5% | $345,250 | 13.2% | 2,574 | 15.9% | 18 | -26% |
| Feb 2021 | 1,845 | -56.5% | $355,000 | 11.6% | 2,685 | 12.4% | 13 | -40% |
| Total 6 mo's | 20,825 | -41% | $345,125 | 11.45% | 17,691 | 18.2% | 14 | -34% |
Condos and Townhomes
| Month | # Listed | % Change Year-Over-Year | Median Price | % Change Year-Over-Year | # Sold | % Change Year-Over-Year | DOM | % Change Year-Over-Year |
|---|---|---|---|---|---|---|---|---|
| Sept 2020 | 1,547 | -17.6% | $196,000 | 13.7% | 713 | 5.3% | 43 | -10.4% |
| Oct 2020 | 1,502 | -18.9% | $189,000 | 9.8% | 726 | 8.8% | 41 | -14.5% |
| Nov 2020 | 1,340 | -22.9% | $199,950 | 14.1% | 718 | 33.7% | 44 | -6.3% |
| Dec 2020 | 1,193 | -24.3% | $187,000 | 4.6% | 779 | 28.7% | 43 | -15.6% |
| Jan 2021 | 923 | -35.4% | $190,000 | 8.5% | 607 | 4.1% | 44 | -24.1% |
| Feb 2021 | 723 | -42.5% | $198,000 | 12.8% | 716 | 18.5% | 42 | -22.2% |
| Total 6 mo's | 7,228 | -25.7% | $193,000 | 10.2% | 4,259 | 15.7% | 43 | -14% |
Thank you for reading our post, “Las Vegas Housing Inventory Crunch.” For more Las Vegas real estate market news, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook.
If you are interested in buying or selling your home in Las Vegas, Henderson, North Las Vegas, and Boulder City, Nevada, please contact The Woodcock Real Estate Group (Lic #B.855) at 702-362-8700 or jack@jackwoodcock.com. They have been selling real estate in Las Vegas since 1974 and can help you to make the right choice!