www.LuxuryHomeMarketing.com LAS VEGAS NEVADA Home of the CLHMS TM 2023 OCTOBER
LAS VEGAS SINGLE
LUXURY INVENTORY VS. SALES | SEPTEMBER 2023
$9,300,000+
$7,600,000 - $9,299,999
$6,100,000 - $7,599,999
$5,100,000 - $6,099,999
$4,300,000 - $5,099,999
$3,500,000
$1,300,000 - $1,499,999
$1,200,000 - $1,299,999
$1,100,000 - $1,199,999
$1,000,000
25 4 20 23 26 36 31 25 61 74 44 76 54 69 43 1 0 1 1 0 6 3 2 7 14 9 11 12 16 13
- $4,299,999 $2,900,000 - $3,499,999 $2,500,000 - $2,899,999 $2,100,000 - $2,499,999 $1,700,000 - $2,099,999
$1,699,999
$1,500,000 -
$1,099,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 NA NA NA 0 7 0% 2,000 - 3,499 $1,200,000 4 4 29 152 19% 3,500 - 4,999 $1,507,500 4 4 48 232 21% 5,000 - 6,499 $1,750,000 4 4 13 113 12% 6,500 - 7,999 $2,787,500 6 6 2 53 4% 8,000+ $5,662,500 5 6 4 54 7%
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- FAMILY HOMES
Luxury Benchmark Price 1: $1,000,000 Balanced Market 611 Total Inventory: 96 Total Sales: 16% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
LAS VEGAS SINGLE
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | SEPTEMBER
PRICE VARIANCE: 3 % 31 32 DAYS ON MARKET VARIANCE: 1 % 95.82% 96.32% SALE TO LIST PRICE RATIO VARIANCE: 4 % $364 $378 SALE
$1.46m
MARKET SUMMARY |
• The Las Vegas single-family luxury market is a Balanced Market with a 16% Sales Ratio.
• Homes sold for a median of 96.32% of list price in September 2023.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 30%
• The median luxury sales price for single-family homes is $1,460,000.
• The median days on market for September 2023 was 32 days, up from 31 in September 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 807 724 751 623 620 622 613 641 566 611 604 610 611 86 91 62 60 68 70 117 107 122 110 121 138 96 $1,288,692 $1,537,906 $1,347,500 $1,512,500 $1,525,000 $1,350,000 $1,378,000 $1,350,000 $1,485,000 $1,495,000 $1,365,000 $1,379,905 $1,460,000 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23
% 807
Sept. 2022 Sept. 2023 TOTAL
VARIANCE: 12 % 86 96 TOTAL SOLDS VARIANCE:
%
PRICE PER
Sept. 2022 Sept. 2023 Sept. 2022 Sept. 2023 Sept. 2022 Sept. 2023 Sept. 2022 Sept. 2023 Sept. 2022 Sept. 2023
- FAMILY HOMES LAS VEGAS
SEPTEMBER 2023 VARIANCE: - 24
611
INVENTORY
13
$1.29m
SALES
SQFT.