OCTOBER Home of the CLHMS
TM
LAS VEGAS NEVAD A www.LuxuryHomeMarketing.com
2023
LAS VEGAS
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | SEPTEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,000,000 $9,300,000+ $7,600,000 - $9,299,999
0
36
6
31
3 25
2
61
7
$1,700,000 - $2,099,999
$1,300,000 - $1,499,999 $1,200,000 - $1,299,999
74
14 44
9
76
11 54
12
$1,100,000 - $1,199,999
69
16
$1,000,000 - $1,099,999
1
Total Sales Ratio2: 16%
26
$2,900,000 - $3,499,999
$1,500,000 - $1,699,999
Balanced Market
23
1
$3,500,000 - $4,299,999
$2,100,000 - $2,499,999
Total Sales: 96
20
1
$5,100,000 - $6,099,999
$2,500,000 - $2,899,999
Total Inventory: 611
4
0
$6,100,000 - $7,599,999
$4,300,000 - $5,099,999
25
1
43
13
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
4
29
152
19%
3,500 - 4,999
$1,507,500
4
4
48
232
21%
5,000 - 6,499
$1,750,000
4
4
13
113
12%
6,500 - 7,999
$2,787,500
6
6
2
53
4%
8,000+
$5,662,500
5
6
4
54
7%
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
$1,288,692
807
751
724
$1,512,500
$1,525,000
623
620
Inventory
$1,350,000
$1,378,000
$1,350,000
622
613
641
Solds
$1,485,000
$1,495,000
566
611
86
91
62
60
68
70
117
107
122
110
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
$1,365,000
$1,379,905
604
610
611
138
96
Aug-23
Sep-23
121 Jul-23
$1,460,000
MEDIAN DATA REVIEW | SEPTEMBER TOTAL INVENTORY Sept. 2022
Sept. 2023
807
TOTAL SOLDS Sept. 2022
Sept. 2023
611 VARIANCE: -24 %
96 VARIANCE: 12 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Sept. 2022
Sept. 2023
364
$
378 VARIANCE: 4 % $
86
Sept. 2022
Sept. 2023
95.82% 96.32% VARIANCE: 1 %
SALES PRICE Sept. 2022
Sept. 2023
1.29m
$
$
1.46m VARIANCE: 13 %
DAYS ON MARKET Sept. 2022
Sept. 2023
31
32 VARIANCE: 3 %
LAS VEGAS MARKET SUMMARY | SEPTEMBER 2023 • The Las Vegas single-family luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 96.32% of list price in September 2023. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 30%. • The median luxury sales price for single-family homes is $1,460,000. • The median days on market for September 2023 was 32 days, up from 31 in September 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