May 2023 Las Vegas Real Estate Market Update

The Las Vegas real estate market ended May with a bang. Home sales jumped from around 5000 in April to almost 5800 in May, breaking a pattern we’ve seen over the past few years of sales starting to wind down as we approach June. The median home price also increased from $340,000 to $345,000 during the same time period, driven in part by the fact that the number of homes on the market have remained pretty much the same, at around 14,300 for both months.

In short, inventory is tight and buyers are still keen on the Las Vegas area. We aren’t seeing the bidding wars of the past couple years, but well-priced homes are finding their buyers, and buyers are craving more inventory. This makes it a great time to sell your home! Contact us for a free, no-obligation home valuation and let us show you how we can help!