"In December, Las Vegas experienced a remarkable 30.1% surge in active listings compared to the previous year, reaching a lively total of 6,527 homes. This impressive growth outpaced the national increase of 12.1%, reflecting a thriving listing environment. The influx of new listings, holding steady year-over-year at 1,414, contributed to this vibrant expansion. Unlike the national trend of a 1.8% decline in newly listed homes, Las Vegas maintained its energetic pace, showcasing an abundant selection for eager buyers to explore."
"Homes in Las Vegas spent an average of 72 days on the market in December, a 16.1% increase from the previous year. This timeframe was slightly shorter than the national median of 73 days, which saw a 5.0% increase year-over-year. The extended days on market, alongside the expanding inventory, indicated a market ripe with opportunities for buyers to thoroughly explore their options and make informed decisions in this dynamic setting."
Las Vegas active listings rose 30.1% year-over-year to 6,527 homes in December, outpacing the national increase of 12.1%. New listings held steady year-over-year at 1,414, contrasting with a 1.8% national decline in newly listed homes. The median listing price decreased 1.1% year-over-year to $460,000, compared with a 0.6% national decline to $399,950. The share of homes with price reductions increased to 17.2%, up 1.3 percentage points. Average days on market rose 16.1% to 72 days, slightly shorter than the national median of 73 days. Expanding inventory and longer market time created more negotiating opportunities for buyers while sellers needed strategic pricing and patience.
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