Presented by Synergy Sotheby's International Realty
It is our pleasure to introduce this quarter’s edition of Insight Magazine, the definitive overview of the greater Las Vegas luxury real estate market.
We take great pride in staying abreast of the changes and market trends of our great city. We hope you find the information contained in the following pages beneficial.
The single-family housing market in Las Vegas continues to show strength overall with inventory down 28% and sales up 11% over the same period last year. The result of the increase in demand and reduction of inventory is the continuing increase in the median home value rising 12% over 2016. At the lower price points, it continues to be a strong Seller’s market.
On the luxury front (homes valued above $750K), the demand is very strong with 45% more homes sold year-to-date than the same time last year. However, we continue to have homes come to market, shoring up the inventory, leaving us just 6% less than last