The Real Estate Market Report

May 2022 – Market Report

Median Home Price
$482,000 +25.2% from May 2021

Homes Sold
2,907  -8.8%  from May 2021

Homes Without Offers
3,570  +75.8%  from May 2021

Homes Sold Within 30 Days
88.6%  +1.7%  from May 2021

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What does this mean for you?

Even as local home prices continue to set records, a report released Tuesday by Las Vegas REALTORS® (LVR) suggests the hot housing market may be starting to shift. “The slowdown in sales and increase in our housing supply are signs that things may be starting to calm down a bit,” LVR President said. “Even though prices are still going up, it’s welcome news for potential buyers to see more homes on the market. As we’ve been saying for months, the rate of appreciation we’ve seen over the past year or two seems unstainable.” We are no longer in a frenzy and it is slowly starting to become easier for buyers to get into a home, but we are still seeing multiple offers for our sellers.

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