Las Vegas Market Update April 2022

The  Las Vegas real estate market ended the first quarter on an upswing. The median sale price was a market-high $379,000, up from $370,000 the previous month and $315,000 from the same time last year. 6,879 homes sold last month, up from 5,414 in February but down from the 7,266 that sold in March 2021 despite the fact that the number of new listings and total listings on the market remained virtually the same. It is possible that increasing mortgage rates and prices are blocking many potential home buyers from the market, but there is strong indication there are still plenty of buyers willing and able to purchase homes. In fact, the Las Vegas area real estate market has only about one month of inventory available, a tight number we haven't seen since April of last year.