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

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2022 Market Summary

Las Vegas, Nevada started 2022 with a total of 1,550 single-family homes on the market, with a median home price of $559,000 and an average price per square foot of $285. By the end of the year, inventory had increased to 4,245 homes on the market (+173%), with a median home price of $486,000 (-13%) and an average price per square foot of $273 (-4%).

At the start of 2022, the median days on market (DOM) was 49 days – by the end of the year, median DOM had increased to 98 days.

Las Vegas started the year with 25% 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 55% of Las Vegas homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Las Vegas started 2022 as a strong seller’s market, with an MAI score of 58; by the end of the year, the MAI had dropped to 32 – a balanced buyer and seller’s market.

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

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