The real estate market in the Greater Las Vegas Area is bustling with activity, attracting both buyers and sellers alike. In this article, we’ll delve into the current statistics of homes in the region, providing insights into the total number of properties, sales, contracts, and price ranges. Whether you’re a prospective buyer, seller, or simply curious about the local market, this overview will help you gain a better understanding of the housing landscape in Vegas Valley.
Total Homes and Property Types
In the Greater Las Vegas Area, there is a total of 4,916 homes comprising various property types. Among them, 572 are condos, 3,916 are single-family residences (SFR), and 429 are townhomes. This diverse range of properties offers something for everyone, from those seeking a low-maintenance lifestyle to those desiring more spacious living arrangements.
Recent Sales and Contracts
Over the past 30 days, the market has shown remarkable activity, with 2,736 homes sold in the Vegas area. This indicates a robust demand for properties and a promising environment for both buyers and sellers. Additionally, there are currently 2,503 (past 30 days) homes under contract, reflecting the ongoing interest in the region’s real estate market.
Price Ranges
The homes on the MLS are available across a wide range of price points, catering to diverse budgets and preferences. Here’s a breakdown of the properties based on their price ranges:
- Homes under $300,000: There are 639 homes available in this affordable price range, making homeownership accessible for those looking for more budget-friendly options.
- Homes between $300,000 and $500,000: This price range offers a larger pool of options, with 1,981 homes falling within it. Buyers in this range can expect to find a variety of SFRs, townhomes, and condos to suit their needs.
- Homes between $500,000 and $750,000: With 1,232 homes falling within this price bracket, there is a considerable selection of properties available for buyers seeking mid-range or upscale options.
- Homes over $750,000: The luxury market in Greater Las Vegas Area boasts 1,108 homes in this price range, catering to those with discerning tastes and seeking high-end properties.
The Greater Las Vegas Area offers a vibrant and diverse real estate market with a wide array of properties to suit every taste and budget. With a total of 4,916 homes, encompassing condos, single-family residences, and townhomes, prospective buyers and sellers have ample opportunities to explore. The recent sales and contract figures indicate a dynamic market with significant interest from buyers. Furthermore, the availability of homes across various price ranges, from affordable to luxury, ensures that individuals can find a property that meets their specific needs and preferences. Whether you’re a first-time homebuyer, an investor, or someone considering selling your property, Vegas’s real estate market is worth exploring.
Other Stats Worth Considering
- Mortgage rates hit all time high today (7.22% average for 30 year FHA)
- Labor data may send rates above 8% (housing wire)
- Average sales price is slightly down to $475,042 but up 1.2% YoY
- Average days on market are 23 days or up 187.5% YoY
- Price per square foot is sitting at $236
