Market Report Las Vegas 4th Quarter 2024

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I’d like to share with you Market insights.  In this analysis, we will examine the relationship between Months Supply of Inventory, List to Sold Price Percentage & summarize the data in the report above.  I hope you find it useful. By understanding these key metrics, you can navigate the real estate market with confidence and make informed decisions, whether  you’re looking to buy or sell. 

The Months Supply of Inventory is a key indicator of the balance between supply and demand in the real estate market. Currently, the Months Supply of Inventory is 3.08, indicating a relatively low inventory level compared to the demand for homes. A lower supply of inventory leads to increased competition among buyers, potentially resulting in higher prices.

The 12-Month Change in Months of Inventory is +19.38%, which suggests that the inventory level has increased over the past year. This may indicate a shift towards a more balanced market where buyers have more options to choose from. However, sellers may need to adjust their pricing strategies to remain competitive.

The Median Days Homes are On the Market is 24, which is a relatively short timeframe. Homes are selling quickly in this market, due to high demand and limited inventory. Sellers can take advantage of this by pricing their homes competitively and preparing them for a quick sale.

The List to Sold Price Percentage is 98.3%, indicating that homes are typically selling close to their list price. This suggests that sellers are pricing their homes accurately and buyers are willing to pay the asking price. A high List to Sold Price Percentage is a positive sign for both buyers and sellers, as it reflects a transparent and efficient market.

In conclusion, the correlation between these metrics suggests a dynamic real estate market with strong demand, limited inventory, and competitive pricing. Buyers may need to act quickly to secure a home, while sellers have an opportunity to maximize their returns in this market. 

Lots of love, 

Tatiana Moody

Licensed Real Estate Agent

Lice #S.74316

Simply Vegas