In August, home prices fell moderately from the month before, with a median listing price of $469,900.
The number of listings on the market remained practically unchanged from last month, but it is a smaller increase than normal for this time of the year in Las Vegas, and homes are also selling slower than at the same time last year.
Home prices in Las Vegas
Typically, home price per square foot in Las Vegas tend to rise in August. But the most recent data shows that the price per square foot decreased by 0.7% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in Sin City are smaller the national market.
Las Vegas inventory
In August, there were 6,944 homes for sale in Las Vegas, which was 1.0% more than the month before and 47.7% more than the same time last year.
Meanwhile, active inventory across the nation fell by 0.4% from last month to 1,098,681.
The number of new listings in Las Vegas was 2,112, which was 2.9% less than the month before and 3.8% less than the same time last year.
Nationally, the number of new listings fell by 7.5% from last month to 402,268.
Time on market
Homes in Las Vegas take an average of 57 days to sell, according to August figures.
This is four days more than the previous month and 17 days more than the same month last year.
For comparison, nationally homes spent an average of 60 days on the market in August.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Las Vegas, NV.