April 2023 Las Vegas Market Update

The Las Vegas real estate market cooled off a bit last month in our predictable seasonal entrance into summer. The number of homes sold dropped from 5,843 in March to 4,949 in April, while the median price dropped from $348,000 to $340,000 during the same time frame. The number of new listings that came on the market also dropped slightly, from 6,883 to 6,425.

This is a pattern that we usually see as the calendar rolls toward the end of the school year and start of summer vacations. This time of year tends to be fairly quiet, real estate-wise. It could be a great time for looking for a home, as the competition may be less intense. If you find yourself house hunting during the summer, text “Summer Buy” to our assistant at 702-401-2349.