$1,000,000+ Sales Totals (2018-2022)

Even with the market slowing down in 2022, there were still 1,525 closed sales for homes priced $1,000,000 and above (with or without guard-gates). To put this into perspective, 2019 had just 586 closed sales in the same price range. How did closed sales nearly triple despite economic uncertainty and rising interest rates? These inflated numbers are evidence of how much prices have soared in recent years; $1,000,000+ sales have increased because there are now substantially more homes valued over $1,000,000 in the Las Vegas market. Things are different than they used to be.

Yes, 2022 had a similar sales volume to 2018 and 2019, but that’s mainly because the beginning of the year still had momentum from 2021’s strong market. Things definitely started slowing down in the latter half of last year. There were a total of 94 guard-gated sales in the last two months of 2022—compared to 113 in 2018 and 147 in 2019. This means that the market has less momentum going into 2023.