Las Vegas Real Estate Market Update - November 2021

Las Vegas area residential real estate has entered the holiday season in strong fashion. The average sale price in November increased over $6000, from $379,367 in October to $386,893 last month, which is very close to the market high as the graph below illustrates. The number of sales increased as well, which is a bit of a seasonal anomaly as we tend to see sales decrease slightly as December approaches. The number of new listings that came on the market in November dropped slightly as is seasonally expected. Inventory remains tight however, with an estimated two months' worth of homes on the market.

The Las Vegas real estate market is extremely competitive for buyers as they compete for a tight supply of homes. If you are thinking about purchasing a home in the area, contact Your Las Vegas Home Specialists and let us show how we can help get you into your dream home!