Las Vegas Real Estate Market Update 2021 • Benzinga
The ever-popular Las Vegas has always had a booming real estate market. With a slight stall last year, the market has once again picked up and started gaining momentum. Now that travel restrictions have lessened, travelers and home buyers alike are fleeing to places like Las Vegas in search of fun and action. This new-found energy is causing the housing market to grow quickly, with a need for homes and rentals.
Current Las Vegas Market Conditions
- The current housing supply is at just 1 month, the lowest it has been in recent years.
- Sale and rental prices for homes are at an all-time high, costing on average $345,000 to buy a single family house, and about $1,460 to rent.
- Although the cost of construction materials is up, builder sentiment is very healthy.
Buying a House in Las Vegas
Las Vegas Home Prices
Las Vegas Median Home Value: $345,000