Source link : https://las-vegas.news/las-vegas-properties-promoting-slower-rental-costs-drop-by-9000-in-a-single-month/
LAS VEGAS (KLAS) — When the Las Vegas housing market was sizzling, homes had been promoting about as quick as they hit the market. Now, gross sales have slowed considerably, in keeping with a report launched Thursday by Las Vegas Realtors (LVR).
The median worth of a single-family dwelling crept up in October to $474,370, with the provision of accessible properties ballooning to a four-and-a-half-month provide. The median worth for condominiums/townhomes dropped to $285,000, falling $9,000 in a single month, and down $30,000 since peaking a 12 months in the past at $315,000. (The median worth is the one within the center — half promote for extra and half promote for much less.)
When the market was at its hottest within the spring of 2022, 96% of properties had been promoting inside 60 days, and condos had been going simply as quick with 98% promoting in 60 days or much less. The availability of accessible homes was dipping beneath two months.
Quick-forward to October 2025, and solely 71.7% of properties are promoting that quick. Condos had been going even slower, with simply 67.5% of gross sales taking place inside two months. LVR’s figures are primarily based on properties offered via their A number of Listings Service (MLS), they usually do not embrace gross sales of latest properties or properties offered by their proprietor.
LAST MONTH: Las Vegas dwelling costs drop by $10,000 to lowest since April 2024
“Local home prices are moderating, with more homes on…
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Author : LasVegasNews
Publish date : 2025-11-06 13:39:00
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