Top Real Estate Agents in Nevada

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2022 Market Summary

Nevada started 2022 with a total of 3,175 single-family homes on the market, with a median home price of $535,000 and an average price per square foot of $310. By the end of the year, inventory had increased to 8,386 homes on the market (+164%), with a median home price of $489,000 (-8%) and an average price per square foot of $292 (-5%).

At the start of 2022, the median days on market (DOM) was 56 days – by the end of the year, median DOM had increased to 98 days.

Nevada started the year with 22% 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 45% of Nevada homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Nevada started 2022 as a strong seller’s market, with an MAI score of 53; 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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