Las Vegas Housing Stats – 4/5/22
It appears that the monster Las Vegas/Henderson housing growth trend continues again this week as list prices continue to increase. This Old Republic Title report (referenced below) lists this trend as a very strong Sellers' market, meaning Sellers retain an advantage in negotiations.
According to the growth statistics report, the median list price increased to $585,000 this week, up from the 90-day average of $576,000.
So an average 1472 sf house is selling at a median price of $389,450 and an average 2,047 sf house sells for a median price of $510,000.
The median house rental price is currently $2,200/month up $50 from December 2021 rent of $2,150/mo.
The Vegas housing market is strong and hot now. Employment is up and tourism is up too to support the trend. However, the low availability of homes, rising material costs, and interest rate increases may dampen the demand for future sales.