Top Mega Teams in Las Vegas, Nevada – Ranked by Sides

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2023 Las Vegas, Nevada Housing Market Summary

Las Vegas, Nevada started 2023 with a total of 4,038 single-family homes on the market, with a median home price of $485,250 and an average price per square foot of $273. By the end of the year, inventory had decreased to 2,333 homes on the market (-42%), with a median home price of $539,000 (+11%) and an average price per square foot of $296 (+8%).

At the start of 2023, the median days on market (DOM) was 98 days – by the end of the year, median DOM had decreased to 70 days.

Las Vegas started the year with 54% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 36% of Las Vegas homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Las Vegas started 2023 as a seller’s market, with an MAI score of 38; by the end of the year, the MAI had rose to 42 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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