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:
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.
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 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.
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