2022 july

What Happened in the July Real Estate Market?

A report released by Las Vegas REALTORS® (LVR) shows local home prices dipping for the second straight month, with fewer homes selling and more available for sale. Existing local home prices are still nearly four times higher than during their post-recession bottom in January of 2012, when the median single-family home price in Southern Nevada was $118,000. But since mortgage interest rates started rising in recent months, prices have been stabilizing, fewer homes have been selling, more homes are hitting the market and more sellers are lowering their asking prices or offering concessions

Median Home Price

$465,000 +14.8% from July 2021

Homes Sold in July

2,066  -38.4% from July 2021

Homes Without Offers

7,331  +148%% from July 2021

Homes Sold Within 30 Days

83.6%  -2.5% from July 2021