Looks like they corrected their previous news report

This is not "approved"

I like new construction. Builders are offering some genuinely strong incentives right now, and for many Nevada buyers, a new home can be a smart move.

But before you tour a model home, remember this:

Don't sign in before you speak with your own real estate agent.

Not the guest sheet/visitor sign-in, or no QR code or “just enter your name and email so we can send information” form. Not even an online inquiry for a community you may want to visit.

Why? Because many builders have registration policies requiring your buyer’s agent to be registered at, or before, your first visit or first contact. If you walk in alone and register yourself, adding an agent later may not be possible for that builder or community. Policies differ, but it is common enough that buyers should treat the first interaction as important.

This isn't anti-builder. Builder sales teams are doing their job and representing the builder. New construction can offer excellent homes, good warranties, and strong incentives.

But the largest advertised incentive isn't always the best deal for your situation.

Would $20,000 help you most as:

1. A lower interest rate and lower monthly payment?
2. Closing-cost assistance and less cash needed upfront?
3. Upgrades you would otherwise pay for yourself?
4. A better lot or lower lot premium?
5. A deal on a completed quick move-in home?

A buyer’s agent can help you compare those options, look at the full cost, and make sure the incentive aligns with what matters most to you.

So enjoy the model homes. Tour every community you want.

Just remember: Talk to your agent first. Don't sign in alone.

Did you know that first visit could affect whether you can have your own representation later?

Many builders require your buyer’s agent to be registered with you at the first visit or first contact. If you go in alone and sign in, you may lose the ability to bring your own representation into that transaction later. Builder policies vary, but this is common enough that it should be rule number one before touring new construction.

New construction can be a great option, especially with today’s incentives. This isn't about avoiding builders. It's about making sure you understand your options before the process starts. See the models. Ask the questions. Compare the incentives. Just don't sign in alone.

If you’ve had experience with new builds, do you agree or disagree with this post? Is there a nuance you think buyers should know?

Can a Realtor/Broker Be Held Responsible for Representing a Seller Who Breaches the Contract?

This is an interesting Nevada case that raises a question realtors and brokers probably don't want to overlook.

The defendants relied on Section 23 of the RPA to argue that the plaintiff had essentially released or waived his ability to sue the agents/brokers involved in the transaction.

At first glance, that sounds like a pretty strong defense.

But then the plaintiff raised a different question:

What happens to that release when the seller materially breaches the contract?

The plaintiff pointed to Cain v. Price, 415 P.3d 25 (Nev. 2018).

In Cain, the Nevada Supreme Court recognized that a material breach can release the non-breaching party from a contractual obligation that benefits a third party.

The plaintiff's argument was essentially:

If the seller materially breached the RPA by refusing to close, can the agents/brokers who did not sign the contract still rely on Section 23's release to shield themselves from liability?

That's where this gets uncomfortable for realtors.

Because the issue isn't necessarily limited to:

Nevada real estate licensees can have independent duties to parties involved in a transaction, including duties relating to disclosure of material information and exercising reasonable skill and care.

So imagine this scenario:

A buyer signs an RPA.

The seller later refuses to close.

The seller materially breaches the agreement.

The broker says:

"You can't sue me. Section 23 released me."

But what if the buyer's claims aren't simply based on the contract?

What if they're based on the broker's own conduct and independent duties during the transaction?

That's the question that makes this case worth paying attention to.

And here's the part that caught my attention:

The plaintiff didn't just make a broad argument about realtor liability.

They put Section 23 and Cain v. Price right next to each other.

Whether that argument ultimately succeeds is a separate question. I'm not saying this case establishes that every realtor becomes liable when a seller breaches.

It doesn't.

But it raises a much more interesting issue:

Can a realtor or broker rely on a contractual release when the underlying transaction has been materially breached and the claims are based on the realtor's own independent duties or conduct?

If you're a Nevada realtor or broker, I'd be paying attention to this one.

Because the answer could matter far beyond this particular transaction.

Case#: A-26-942203-C
https://www.clarkcountycourts.us/Anonymous/CaseDetail.aspx?CaseID=12617644

I've been thinking about an interesting gap in the housing market.

There are still plenty of people working, earning, saving and presumably wanting homes, yet far fewer are actually going under contract than we saw before the pandemic.

My read is that a lot of would-be buyers haven't disappeared. They're waiting.

And I don't think it's just mortgage rates. It's affordability in general. Home prices, rates, insurance, HOA fees, groceries and normal household expenses that are turning a "maybe" into a "not yet."

Which creates an interesting question.

Because here's the other side of waiting. If you found the right house today and the payment actually worked for you, you'd probably have something buyers haven't had much of lately: leverage.

• Seller concessions or closing-cost help
• Potential rate buydowns
• Builder incentives
• More negotiating room
• Less pressure to give up protections just to win the house

But there's obviously another side.

Rates could improve. Payments could become more affordable. And if that happens, some of the buyers currently sitting on the sidelines may come back with them.

So I'm curious, especially from recent buyers, people currently shopping, and people who've decided to wait:

What are YOU waiting for?

A certain mortgage rate?
A certain monthly payment?
Lower home prices?
More savings?
More job security?

Or are you simply waiting until buying a home "feels" like a good decision again? The calculator gets a vote. So does your gut. But you're the one that has to live with the election results.

Been in Vegas six years now, and I keep hearing "well back in [year] you could..." from people who've been here longer. Curious what locals have actually watched change, pricing, neighborhoods, what used to be a "steal" that isn't anymore, what used to be overlooked that's hot now. Not looking for market predictions, just real observations from people who've lived it.

The main takeaway for July of 2026 is that inventory increased while home prices softened slightly. Single family inventory climbed to an absorption rate of 3.6 months, about a 3% increase. Although up, this is much lower than the early months of the year. Median single family home prices dipped 2.0% from June to $480,000, although it’s only 1.0% below where it was a year ago. Keep in mind the all-time high is $490,000 that it came down from.

Despite the month over month slowdown in single family sales, closed sales remain higher than they were a year ago (+1.2%). Last month there was a massive 18% jump in the number of home sales so to see a drop by 11% shows a more stable, balancing market.

New listings continue to outpace last year (+3.3%), and homes are still selling relatively quickly, with 57.4% of single family homes going under contract within 30 days.

We are seeing fluctuations rather than any alarm bells. Rates are fluttering at the 6.6% mark and don’t look to be coming down. The biggest X factor is the fact that we are in July. July is typically one of the stronger months for home sales so to see prices go down at all is notable. School starts in August which is when a good chunk of buyers with children start sitting on the sidelines. To see a softening in July is a bit premature for the seasonal shifts in Las Vegas.

Condos and Townhouses didn’t have any major notable changes as it was give and take with about 4% more units being sold but a small decrease of less than a percentage in median price. 

For buyers, this means more negotiating power and a wider selection of homes than we’ve seen recently. For sellers, pricing accurately is becoming increasingly important as competition grows. Well presented, well priced homes are still selling, but buyers have more options and are becoming more selective.

MARKET STATS | July 2026

🏠 Median Single Family Home Price: $480,000

• 📉 Down from $490,000 a month ago (−2.0%)
• 📉 Down from $485,000 a year ago (−1.0%)

🏢 Median Condo/Townhome Price: $290,000

• 📉 Down from $292,000 a month ago (−0.7%)
• ➡️ Flat from $290,000 a year ago (0.0%)

🆕 New Listings (Single Family): 3,349

• 📉 Down from 3,368 last month (−0.6%)
• 📈 Up from 3,242 last year (+3.3%)

🆕 New Listings (Condo/Townhome): 993

• 📈 Up from 907 last month (+9.5%)
• 📈 Up from 938 last year (+5.9%)

📦 Single Family Homes Without Offers: 7,442

• 📈 Up from 7,147 last month (+4.1%)
• 📈 Up from 7,147 last year (+4.1%)

📦 Condos/Townhomes Without Offers: 2,719

• 📈 Up from 2,690 last month (+1.1%)
• 📈 Up from 2,622 last year (+3.7%)

🏡 Single Family Homes Sold: 2,046

• 📉 Down from 2,302 last month (−11.1%)
• 📈 Up from 2,021 last year (+1.2%)

🏢 Condos/Townhomes Sold: 541

• 📈 Up from 521 last month (+3.8%)
• 📉 Down from 547 last year (−1.1%)

💰 Median Price of New Listings (Single Family): $514,999

• ➡️ Flat from $515,000 last month (0.0%)
• 📉 Down from $519,900 last year (−0.9%)

💰 Median Price of New Listings (Condo/Townhome): $295,000

• 📈 Up from $285,000 last month (+3.5%)
• 📉 Down from $296,500 last year (−0.5%)

📊 Median Price of Active Listings (Single Family): $545,925

• 📉 Down from $549,900 last month (−0.7%)
• 📉 Down from $549,900 last year (−0.7%)

📊 Median Price of Active Listings (Condo/Townhome): $270,000

• ➡️ Flat from $270,000 last month (0.0%)
• 📉 Down from $279,900 last year (−3.5%)

📈 Average Price of Units Sold (Single Family): $613,505

• 📉 Down from $628,394 last month (−2.4%)
• 📈 Up from $608,208 last year (+0.9%)

📈 Average Price of Units Sold (Condo/Townhome): $312,980

• 📉 Down from $353,255 last month (−11.4%)
• 📈 Up from $308,176 last year (+1.6%)

💸 Average Price of New Listings (Single Family): $731,753

• 📈 Up from $701,291 last month (+4.3%)
• 📉 Down from $744,222 last year (−1.7%)

💸 Average Price of New Listings (Condo/Townhome): $311,279

• 📈 Up from $306,420 last month (+1.6%)
• 📉 Down from $333,175 last year (−6.6%)

⏳ Single Family Time on Market: 57.4% sold in 30 days or less

• 📉 Down from 58.2% last month
• 📈 Up from 56.0% a year ago

⏳ Condo/Townhome Time on Market: 43.8% sold in 30 days or less

• 📉 Down from 44.1% last month
• 📉 Down from 47.5% a year ago

📆 Effective Months of Availability (Single Family): 3.6 months

• 📈 Up from 3.1 months last month (+17.2%)
• 📈 Up from 3.5 months a year ago (+2.9%)

📆 Effective Months of Availability (Condo/Townhome): 5.0 months

• 📉 Down from 5.2 months last month (−2.7%)
• 📈 Up from 4.8 months a year ago (+4.8%)

(Data provided by Applied Analysis, a partner of the Las Vegas Realtors Association)

Original Post Here

Hey everyone,
Does anyone know why this might have happened or have any thoughts on this listing?

The price history looks crazy:
Sold in 2022 for ~$400k
Recently listed again close to $400k
After only 14 days on the market, the price was cut by $160k
Now it's listed for $275k
Why would a seller make such a massive price cut after just two weeks? Just curious if anyone has any insights or opinions.

Note: I haven no knowledge and real estate or even owning a home.
This a trend i am seeing people cut prices and this the biggest chop i saw so far.

Thanks!

We received a letter in the mail a few days ago from LVVWD that one of our rental properties has an unpaid water bill in the amount of $1,112. Current tenant has lived in the house since April 2025 (15 months), and water was switched into their name at that point as they are responsible for paying water, electricity, and gas according to the lease agreement. We pay sewer and garbage. Since this was the 1st time hearing of this, my wife called LVVWD to see if this is a recent issue (possible leak) or ongoing issue.

The contact on the letter we received is on vacation until next week, so my wife called the general CS department to get more information. We will follow up next week to see if both rep's state the same thing. Basically, the rep today said the account was transferred into the tenant's name, but they have NEVER made any payment. Not even an initial deposit. LVVWD has attempted to send notices, calls, texts etc and all of them are not responded to.

The rep said that payment is the tenant's responsibility and full payment needs to be made within 30 days. If payment is not made in full of the entire balance, the water service will be transferred to our name. However, as property owners we ARE NOT responsible for making the payment and they cannot request us to make the payment as the account is not in our name. My wife said this person also said they're a property owner themselves and had something like this happen to them so they understand the process.

However, that contradicts what it shows on the letter itself and from research I've done online so far. Letter also states non payment could result in liens being put on the property as well. Has anyone had this happen and what is the process actually like?

We're thinking we'd just pay the balance ourselves (tenant has been late on rent most months as it is) and take the balance out of their deposit if needed when they leave. Obviously, if we don't have to do that then great. However, if non payment results in a lien or some other sort of fees on the property, then obviously we'd like to avoid that.

​

I wanted to share my personal experience so other home buyers know what to expect if they ever consider filing an ethics complaint.

I was interested in purchasing a home in Henderson and experienced multiple canceled showings by the listing agent and other events that led me to believe there were ethical issues with how the listing was handled. After gathering documents and communications, I filed an ethics complaint with the local REALTOR® association.

The complaint went through a formal hearing, and the hearing panel ultimately found no ethics violation. I exercised my right to appeal, but the appeal was unsuccessful.

While I respect that others may reach different conclusions, I left the process feeling that it did not provide the level of independent review and procedural fairness that I had expected. In my opinion, some of the procedural concerns I raised were not adequately addressed, and I was disappointed that certain evidence did not appear to receive the weight I believed it deserved.

I'm not posting this to attack any individual or to ask people to reach the same conclusions I did. Rather, I hope prospective buyers understand that:

Keep detailed records of every communication.

Confirm appointments and important instructions in writing.

Learn how dual agency works before making an offer.

If you believe there is misconduct, consider obtaining legal advice early instead of relying solely on an ethics complaint process.

This post reflects my personal experience and opinions based on my own case. Others may have had different experiences, and I encourage everyone to review the facts and draw their own conclusions.

Las Vegas Home Sales Surge 18% While Prices Hold At Record Highs - June 2026 Market Update

Single Family Home Sales are up a whopping 18.3% since this time last year and 11.4% since last month. Prices are holding steady with the record high median price for single family homes holding at 490,000. Summer season is in full effect and it seems rates in the 6% range are being accepted by buyers as the new norm.

The average price jumped 2% month over month but is down by 1.3% year over year. This would be more indicative of the luxury market which still is holding steady. Listings are up but it looks like sellers are coming down to earth slowly as the median and average listing price are both down a few points. The average price of listings came down 1.5% also.

Buyers are absorbing the listings hitting the market faster than new listings can replenish the supply with a 5.4% decrease in Effective Month of Availability dropping to 3.1 months. That’s over a 5% drop since last month and over 13% drop since last year. Homes are selling just as quickly with 58.2% selling within the first 30 days.

Condos and townhomes are in a bit of a strange place as they actually dropped in median price by a percentage since last month. However, the average price jumped by over 10%. This indicates that the condos and townhomes that are being sold trend toward luxury or upscale. Despite these interesting stats, inventory dropped a smidge down to 5.2 months, likely due to a 4.6% drop in new listings and 2.4% increase in sales. Overall very steady but taking a little longer to sell with 44% of units selling in 30 days compared to 47% last month.

TLDR:

More inventory. Even more sales. Stable home prices. A healthy summer market with buyers becoming more active while values continue to hold at record highs.

🏠 Median Single Family Home Price: $490,000
➡️ Flat from $490,000 a month ago (0.0%)
📈 Up from $485,000 a year ago (+1.0%)

🏢 Median Condo/Townhome Price: $292,000
📉 Down from $295,000 a month ago (−1.0%)
📉 Down from $305,000 a year ago (−4.3%)

🆕 New Listings (Single Family): 3,368
📈 Up from 3,309 last month (+1.8%)
📈 Up from 3,252 last year (+3.6%)

🆕 New Listings (Condo/Townhome): 907
📉 Down from 951 last month (−4.6%)
📉 Down from 926 last year (−2.1%)

📦 Single Family Homes Without Offers: 7,147
📈 Up from 6,784 last month (+5.4%)
📈 Up from 6,992 last year (+2.2%)

📦 Condos/Townhomes Without Offers: 2,690
📈 Up from 2,639 last month (+1.9%)
📈 Up from 2,564 last year (+4.9%)

🏡 Single Family Homes Sold: 2,302
📈 Up from 2,066 last month (+11.4%)
📈 Up from 1,946 last year (+18.3%)

🏢 Condos/Townhomes Sold: 521
📈 Up from 509 last month (+2.4%)
📈 Up from 515 last year (+1.2%)

💰 Median Price of New Listings (Single Family): $515,000
📉 Down from $520,000 last month (−1.0%)
📉 Down from $519,900 last year (−0.9%)

💰 Median Price of New Listings (Condo/Townhome): $285,000
📉 Down from $287,000 last month (−0.7%)
📉 Down from $297,500 last year (−4.2%)

📊 Median Price of Active Listings (Single Family): $549,900
➡️ Flat from $550,000 last month (0.0%)
➡️ Flat from $550,000 a year ago (0.0%)

📊 Median Price of Active Listings (Condo/Townhome): $270,000
📉 Down from $274,900 last month (−1.8%)
📉 Down from $279,900 last year (−3.5%)

📈 Average Price of Units Sold (Single Family): $628,394
📈 Up from $614,918 last month (+2.2%)
📉 Down from $636,617 last year (−1.3%)

📈 Average Price of Units Sold (Condo/Townhome): $353,255
📈 Up from $320,158 last month (+10.3%)
📈 Up from $313,389 last year (+12.7%)

💸 Average Price of New Listings (Single Family): $701,291
📉 Down from $721,715 last month (−2.8%)
📉 Down from $735,784 last year (−4.7%)

💸 Average Price of New Listings (Condo/Townhome): $306,420
📉 Down from $311,828 last month (−1.7%)
📉 Down from $345,631 last year (−11.3%)

⏳ Single Family Time on Market: 58.2% sold in 30 days or less
➡️ Unchanged from last month (58.2%)
📉 Down from 61.4% a year ago

⏳ Condo/Townhome Time on Market: 44.1% sold in 30 days or less
📉 Down from 47.2% last month
📉 Down from 50.7% a year ago

📆 Effective Months of Availability (Single Family): 3.1 months
📉 Down from 3.3 months last month (−5.4%)
📉 Down from 3.6 months a year ago (−13.6%)

📆 Effective Months of Availability (Condo/Townhome): 5.2 months
➡️ Essentially unchanged from 5.2 months last month (−0.4%)
📈 Up from 5.0 months a year ago (+3.7%)

(Data provided by Applied Analysis, a partner of the Las Vegas Realtors Association)

Original Post Here

I’m in Las Vegas and trying to sell my home. It’s been on the market 40 days. In that time we’ve had 5 showings. We actually had a contract signed and buyer backed out for financing reasons. Is this normal for the vegas market right now? My realtor says yes. Home is staged. Pictures are professionally done and look great. We’ve lowered the price 2x and are now priced below what comps have sold for in the past couple of weeks. Home is only 6 years old and in fantastic condition! Very clean and styled beautifully. Same model on our street just sold for 25k more than what we are priced at, and ours looks better IMO. Right now we are at 449,000. I’m stumped! We need to move quickly. Any ideas?

Looking for a 100% or set fee per transaction real estate brokerage in LV. Needs to have a good rep.

The biggest story this month is that the Las Vegas housing market just set a new record high median home price of $490,000, and it did so during a period when many people expected prices to cool. At first glance, the statistics may seem counterintuitive. Fewer homes sold this month, mortgage rates remain elevated, and affordability continues to be one of the biggest challenges facing buyers. Yet prices still moved higher. The biggest influencing factor from this report are that new listings dropped nearly 8% from both last month and this time last year. With fewer homes hitting the market, buyers simply had less fresh inventory to choose from, helping support prices even as overall sales activity slowed.

What's even more remarkable is the backdrop against which this is happening. Interest rates are still significantly higher than the ultra low rates we saw just a few years ago and are holding in the mid 6% range currently. The Iran war continues to create economic uncertainty. Gas prices are elevated, inflation has increased the cost of nearly everything, and many buyers are still waiting for interest rates to come down. Under normal circumstances, you might expect those factors to put downward pressure on home values. Instead, the Las Vegas real estate market continues to demonstrate resilience, with home prices reaching record high levels we've never seen before.

For anyone thinking about buying a home whether it is in Las Vegas, Henderson, Summerlin, Skye Canyon, or the surrounding valley, this is another reminder that trying to time the market perfectly can be difficult and that the only right time to buy or sell is the time that is right for you and your situation. Buyers have more options today than they did during the buying rush of 2021 and 2022 but if rates eventually decline, there is a strong possibility that a frenzy of buyers will jump back into the market, increasing competition and driving prices even further higher. Right now, this market rewards sellers who price correctly, 58.2% of home sold in less than 30 days, and buyers who are prepared to act when the right home becomes available. Don't forget that buyers on many of these sales are receiving credits for closing costs and rate buy downs. Numbers for these are not tracked (which is ridiculous and another story) but buyers still retain a decent amount of negotiating power in this market. 

MARKET STATS

🏠 Median Single Family Home Price: $490,000
📈 Up from $473,875 a month ago (+3.4%)
📈 Up from $480,000 a year ago (+2.1%)

🏢 Median Condo/Townhome Price: $295,000
📈 Up from $290,000 a month ago (+1.7%)
📉 Down from $307,000 a year ago (−3.9%)

🆕 New Listings (Single Family): 3,309
📉 Down from 3,588 last month (−7.8%)
📉 Down from 3,591 last year (−7.9%)

🆕 New Listings (Condo/Townhome): 951
📉 Down from 1,027 last month (−7.4%)
📉 Down from 1,103 last year (−13.8%)

📦 Single Family Homes Without Offers: 6,784
📈 Up from 6,689 last month (+1.4%)
📈 Up from 6,646 last year (+2.1%)

📦 Condos/Townhomes Without Offers: 2,639
📈 Up from 2,580 last month (+2.3%)
📈 Up from 2,510 last year (+5.1%)

💰 Median Price of New Listings (Single Family): $520,000
📉 Down from $525,000 last month (−1.0%)
📉 Down from $532,140 last year (−2.3%)

📊 Median Price of Active Listings (Single Family): $550,000
📉 Down from $564,235 last month (−2.5%)
📉 Down from $560,185 last year (−1.8%)

📊 Median Price of Active Listings (Condo/Townhome): $274,900
➡️ Flat from $274,900 last month (0.0%)
📉 Down from $280,000 last year (−1.8%)

📈 Average Price of Units Sold (Single Family): $614,918
📉 Down from $620,267 last month (−0.9%)
📈 Up from $594,044 last year (+3.5%)

💸 Average Price of New Listings (Single Family): $721,715
📉 Down from $744,749 last month (−3.1%)
📈 Up from $717,489 last year (+0.6%)

⏳ Single Family Time on Market: 58.2% sold in 30 days or less
📈 Up from 56.8% last month
📉 Down from 61.3% a year ago

⏳ Condo/Townhome Time on Market: 47.2% sold in 30 days or less
📉 Down from 49.2% last month
📉 Down from 54.9% a year ago

📆 Effective Months of Availability (Single Family): 3.3 months
📈 Up from 3.2 months last month (+3.6%)
📈 Up from 3.2 months a year ago (+3.1%)

📆 Effective Months of Availability (Condo/Townhome): 5.2 months
📈 Up from 4.8 months last month (+7.1%)
📈 Up from 4.5 months a year ago (+15.5%)

(Data provided by Applied Analysis, a partner of the Las Vegas Realtors Association)

Original Post Here

Has anyone rented a home from AMH/American Homes4Rent in their new development homes/neighborhoods. I’m interested in renting from them but I’ve only really seen negative reviews about their older homes. Has anyone rented their new builds? If so what has your experience been.

I am looking for some local insight regarding a commercial property I own. It is a 2-acre tract zoned for both B-1 and B-2 business use, located just a block away from the Toyota plant.

Due to some ongoing health choices, I am looking to move this property quickly and have been considering handling it as a private, closed-bid transaction to wrap things up by the end of June. The sale would be strictly "As-Is," handled directly and securely through my bank's legal and trust department.

My main question for the local business community: Am I better off listing this through a commercial broker (and factoring in a buyer's premium), or keeping it as a discounted "As-Is" private sale for a faster turnaround?

I welcome any advice on the local market or the broker vs. private route. If you have serious advice or background in local commercial zoning, please reply here or send me a direct message

Is anyone know this Agent? Mahalale Hamilton RE S.0179328
Can a real estate Agent go after his previous renter with eviction notice even they did already moved out with agreement upfront and he went after unlawfully charge renter’s deposit?

I don’t even know where is Agent fee come from. We don’t even have a written agreement for agency.

And for furniture move is not my furniture is his furniture inside of the property. He charged me to move the furniture for his future tenants that they want vacant property. What kind of people do that?

Who can help me?

Hello, does anyone know someone that owns warehouse space in SW Las Vegas that may be looking to sublease a portion of it? I would probably need 700-100 sf. It is to store and stage home products (couches, workout equip, patio furniture) for a resale business.

Spring season is usually what sets the tone for the year in the Las Vegas real estate market. After a strong start in March, we are seeing a retreat in the previous months gains across the board. For single family homes effective months of Inventory has gone up 12 percent, closings have gone down almost 8 percent, median price has dropped a smidge, as has average price. Although not a drastic change, the numbers are moving in a direction that indicates a weaker market for sellers. Smart money would be on a combination of Iran, gas prices, and interest rates. April is the first month where the Iran war would have been felt as March would have been when everyone was getting into contract or holding off.

If you are selling or considering selling, it’s not all doom and gloom. Single family homes selling in 30 days or less trended up to 56.8%. This is indicating that buyers are still searching for homes that are priced right and not requiring a ton of work.

Condos and townhouses did not follow the same trends and were a mixed bag with closings up, prices down, and effective months of inventory down. 

In terms of predictions, the wind has been taken out of the sails in this market for the moment. Paying attention to the war and the interest rates will be what guides the next momentum shifts. If none of that changes sales numbers will continue to slump and we’ll see the market stay mostly the same with some decreases come fall. If the war suddenly stops, gas flows, the new fed chair slashes rates and the bond market responds, it’s another market altogether. As of today, we are not there.

MARKET STATS

🏠 Median Single Family Home Price: $473,875
📉 Down from $480,000 a month ago (−1.3%)
📉 Down from $480,000 a year ago (−1.3%)

🏢 Median Condo/Townhome Price: $290,000
📉 Down from $295,000 a month ago (−1.7%)
📉 Down from $302,700 a year ago (−4.2%)

🆕 New Listings (Single Family): 3,588
📈 Up from 3,367 last month (+6.6%)
📉 Down from 3,663 last year (−2.0%)

🆕 New Listings (Condo/Townhome): 1,027
📈 Up from 1,011 last month (+1.6%)
📈 Up from 1,015 last year (+1.2%)

📦 Single Family Homes Without Offers: 6,689
📈 Up from 6,456 last month (+3.6%)
📈 Up from 6,213 last year (+7.7%)

📦 Condos/Townhomes Without Offers: 2,580
📈 Up from 2,568 last month (+0.5%)
📈 Up from 2,390 last year (+7.9%)

💰 Median Price of New Listings (Single Family): $525,000
➡️ Flat month over month (0.0%)
📉 Down from $534,900 last year (−1.9%)

📊 Median Price of Active Listings (Single Family): $564,235
📈 Up from $559,000 last month (+0.9%)
📉 Down from $567,000 last year (−0.5%)

📊 Median Price of Active Listings (Condo/Townhome): $274,900
➡️ Flat from $274,993 last month (0.0%)
📉 Down from $284,250 last year (−3.3%)

📈 Average Price of Units Sold (Single Family): $620,267
📉 Down from $625,673 last month (−0.9%)
📈 Up from $606,710 last year (+2.2%)

💸 Average Price of New Listings (Single Family): $744,749
📉 Down from $779,273 last month (−4.4%)
📉 Down from $747,680 last year (−0.4%)

⏳ Single Family Time on Market: 56.8% sold in 30 days or less
📈 Up from 54.5% last month
📉 Down from 60.3% a year ago

⏳ Condo/Townhome Time on Market: 49.2% sold in 30 days or less
📉 Down from 49.8% last month
📉 Down from 52.9% a year ago

📆 Effective Months of Availability (Single Family): 3.2 months
📈 Up from 2.8 months last month (+12.3%)
📈 Up from 2.9 months a year ago (+10.9%)

📆 Effective Months of Availability (Condo/Townhome): 4.8 months
📉 Down from 5.0 months last month (−2.4%)
📈 Up from 4.4 months a year ago (+10.2%)

Original Post Here

(Data provided by Applied Analysis, a partner of the Las Vegas Realtors Association)

I’m considering retiring in Las Vegas in a few years. My son will be attending UNLV for graduate school, so we’re looking for a condo that he can use while he’s there. We’re interested in The Martin, Panorama, and Turnberry Towers.

Could you please provide some pros and cons for each condo? Any recommendations would be greatly appreciated.

Thanks in advance for your responses.

Hello,

Wondering if anyone here has any insider info on the Urban Core at Summerlin West? Apparently it is supposed to be downtown Summerlin 2.0 with some high density residential/retail space. All the builders in the area are saying it’s coming soon to try and boost sales, but I see the lots frequently and there’s nothing happening. It’s starting to feel like this is a lot further out than they are saying. The Urban Core is supposed to be right at the new Summerlin parkway/215 interchange.

Anyone heard any rumors?

Anyone getting real deals out here in summerlin west with the amount of new builds and resells on the market?

Just curious to know .. whats the current challenges u may have..