NOVEMBER Home of the CLHMS
TM
LAS VEGAS NEVAD A www.LuxuryHomeMarketing.com
2023
LAS VEGAS
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | OCTOBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,000,000 $9,300,000+ $7,600,000 - $9,299,999 $6,100,000 - $7,599,999
$5,100,000 - $6,099,999 $4,300,000 - $5,099,999
29
1
$2,500,000 - $2,899,999
$1,500,000 - $1,699,999 $1,300,000 - $1,499,999 $1,200,000 - $1,299,999
$1,100,000 - $1,199,999
Total Sales Ratio2: 14%
25
1
39
4
31
2
30
4
54
8
75
5 51
11
71
10 54
12
78
12
$1,000,000 - $1,099,999
1
Buyer's Market
21
1
$2,100,000 - $2,499,999 $1,700,000 - $2,099,999
Total Sales: 91
22
0
$3,500,000 - $4,299,999 $2,900,000 - $3,499,999
Total Inventory: 628
6
0
42
20
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
NA
NA
NA
0
7
0%
2,000 - 3,499
$1,200,000
4
3
32
148
22%
3,500 - 4,999
$1,242,500
4
4
40
240
17%
5,000 - 6,499
$1,777,000
5
4
13
118
11%
6,500 - 7,999
$3,600,000
6
6
3
64
5%
8,000+
$5,225,000
5
4
3
51
6%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
LAS VEGAS
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,537,906 $1,347,500
751
724
$1,512,500
623
$1,525,000
620
Inventory
$1,350,000
$1,378,000
$1,350,000
622
613
641
$1,485,000
Solds
$1,495,000
$1,365,000
$1,379,905
604
610
611
566
91
62
60
68
70
117
107
122
110
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
121
Jul-23
$1,460,000
$1,300,000
628
611
138
96
91
Aug-23
Sep-23
Oct-23
MEDIAN DATA REVIEW | OCTOBER TOTAL INVENTORY Oct. 2022
Oct. 2023
724
628 VARIANCE: -13 %
SALE PRICE PER SQFT. Oct. 2022
Oct. 2023
402
362 VARIANCE: -10 %
$
$
TOTAL SOLDS Oct. 2022
Oct. 2023
91
91 VARIANCE: 0 %
SALE TO LIST PRICE RATIO Oct. 2022
Oct. 2023
94.92% 96.15% VARIANCE: 1 %
SALES PRICE Oct. 2022
Oct. 2023
1.54m
$
$
1.30m VARIANCE: -15 %
DAYS ON MARKET Oct. 2022
Oct. 2023
36
27 VARIANCE: -25 %
LAS VEGAS MARKET SUMMARY | OCTOBER 2023 • The Las Vegas single-family luxury market is a Buyer's Market with a 14% Sales Ratio. • Homes sold for a median of 96.15% of list price in October 2023. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 48%. • The median luxury sales price for single-family homes is $1,300,000. • The median days on market for October 2023 was 27 days, down from 36 in October 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3