In March, we saw the real estate market continue to absolutely soar. The market remains incredibly strong for those deciding to sell. Homes were getting gobbled up quickly with an average of 12 days on market. We saw a small increase in units available, but we are still down 69% year-over-year in inventory.
Here’s the full breakdown:
Monthly Sales
According to the data from the GLVAR® from March 2021, Las Vegas saw more than 3,700 single-family homes sold. Our highest sales month in over two years, despite historically low inventory levels.
Sale Price
Average sales prices continue to rise year over year as March records a massive 14.1% increase in new sales prices for single-family units.
Inventory
Inventory is near an all-time low in the Las Vegas Valley, but a month-over-month increase of 5% and market seasonality indicate a rise in inventory is on the way.
Want to Know Your Home’s Value?
Find out how much your home could be worth in today’s market. Get a free home value report from a local Las Vegas Homie!
Turn to a Homie
Homie has local real estate agents in all of our service areas. These agents are pros in everything they do, including understanding the local real estate market. Click to start selling or buying and to get in touch with your dedicated agent.
Call us at (702) 550-1081 or message us on Facebook to get in touch. Or create an account with us to get started right away.
Presented by Homie, NV Lic. # B.144145
Read more blogs about buying or selling a home:
Net Sheets: A Critical Step To Maximize Profit For Your Home Sale
Should I Sell My Home to an iBuyer/Instant Offer Company? [Case Study]
How to Avoid Making the Biggest Home Buying Mistake