GemHausNew report

Market Snapshot

Median listing price
$938K

The median listing price in Las Vegas, NV ZIP 89138 is $937,500 as of May 2026.

Median rent
$2,850/mo

The median market rent in Las Vegas, NV ZIP 89138 is $2,850/month as of May 2026.

Days on market
148 days

The median days on market in Las Vegas, NV ZIP 89138 is 148 days as of May 2026. The market is currently neutral.

Gross rental yield
3.65%

At a median list price of $937,500 and a median rent of $2,850/month, the gross rental yield in Las Vegas, NV ZIP 89138 is 3.65% as of May 2026.

STR vs LTR
$1,097/mo STR · $2,850/mo LTR

In Las Vegas, NV ZIP 89138, median Airbnb revenue is $1,097/month compared to median long-term rent of $2,850/month as of May 2026.

Las Vegas, NV 89138 Real Estate Market Report

ZIP Code: 89138
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.


Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Analysis Window
90 Days
Total Properties Analyzed
192
Active Listings
104
Sold Properties
88

Market Metrics

Median Listing Price
$937,500
Median Sold Price
$835,000
Median Price per Sqft
$362/sqft

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.


Rental Market

Median Market Rent
$2,850

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.


Property Taxes

Property Tax Rate
0.60%

Liquidity & Velocity

Median Days on Market
148
Sale-to-List Ratio
100.0%

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.


Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Price YoY Trend
flat
Market Temperature
neutral
Rent YoY Trend
flat
Interest Rate Pressure
moderate

Key Findings

  1. median sold price: $835,000 is the primary market-value signal and represents recent transaction-level pricing for SFRs and condos in ZIP 89138, indicating realized buyer willingness to pay in the current cycle.

  2. median sold price: $835,000 sits below the median listing price: $937,500, which suggests pricing friction as sellers' asking levels appear elevated relative to completed transactions; this gap may indicate selective seller concessions or longer negotiation windows.

  3. median sold price: $835,000 combined with a median days on market: 148 points to slower sales velocity and reduced listing turnover; the prolonged time to contract signals moderation in liquidity rather than rapid absorption.

  4. median sold price: $835,000 should be evaluated alongside neutral market indicators—price year-over-year trend is flat, market temperature is neutral, rent year-over-year trend is flat, and interest rate pressure is moderate—which overall suggests a balanced but cautious market environment for investment and pricing decisions.


Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Recent Transactions

3110 Greenscape Ln, Las Vegas, NV 89138
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

4 beds
3 baths
3,902 sqft
$2,450,000
Mar 1, 2026
$628/sqft/sqft
90 days on market
12544 Claymore Highland Ave, Las Vegas, NV 89138
Premium

Sold above market average

4 beds
3 baths
3,490 sqft
$2,450,000
Apr 1, 2026
$702/sqft/sqft
227 days on market
11181 Luna Blanca Dr, Las Vegas, NV 89138
Premium

Sold above market average

5 beds
4 baths
3,949 sqft
$2,299,000
Apr 1, 2026
$582/sqft/sqft
295 days on market
12406 Tudor Arch Dr, Las Vegas, NV 89138
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
2,362 sqft
$900,000
Apr 1, 2026
$381/sqft/sqft
142 days on market
929 Viscanio Pl, Las Vegas, NV 89138
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

4 beds
2 baths
2,763 sqft
$900,000
Apr 1, 2026
$326/sqft/sqft
2451 days on market
11730 Midnight Melody Ave, Las Vegas, NV 89138
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
2 baths
2,503 sqft
$875,000
Mar 1, 2026
$350/sqft/sqft
148 days on market
549 Tokopah Falls St, Las Vegas, NV 89138
Value

Sold below market average

3 beds
2 baths
1,556 sqft
$450,000
Apr 1, 2026
$289/sqft/sqft
217 days on market
11261 Emerald Pine Ln, Las Vegas, NV 89138
Value

Sold below market average

3 beds
2 baths
1,424 sqft
$440,000
Mar 1, 2026
$309/sqft/sqft

Las Vegas, NV 89138 Real Estate Market Report

ZIP Code: 89138
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.


Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Analysis Window
90 Days
Total Properties Analyzed
92
Active Listings
4
Sold Properties
88

Market Metrics

Median Listing Price
$392,500
Median Sold Price
$593,000
Median Price per Sqft
$273/sqft

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.


Rental Market

Median Market Rent
$2,300

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.


Property Taxes

Property Tax Rate
0.30%

Liquidity & Velocity

Median Days on Market
242
Sale-to-List Ratio
100.0%

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.


Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Price YoY Trend
flat
Market Temperature
neutral
Rent YoY Trend
flat
Interest Rate Pressure
moderate

Key Findings

  1. The neighborhood's primary market value indicator is the median sold price: 593,000, which should be treated as the representative recent sale level for pricing and underwriting decisions; representative recent sale.

  2. Transaction velocity appears slow based on the median days on market of 242, which suggests slower sales velocity and potential pricing friction that may create negotiation opportunities for buyers.

  3. Pricing context shows a median price per square foot of 273 alongside a price year-over-year trend that is flat and a market temperature described as neutral, indicating stable market value expectations where aggressive seller premiums may not be supported; flat.

  4. Rental and financing pressures: the median market rent is 2,300 with a rent year-over-year trend that is flat, and interest rate pressure labeled as moderate, which implies moderated rent growth and financing headwinds—investors should underwrite conservatively and stress-test cash flows; moderate.


Notable Properties

The following 4 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Recent Transactions

11830 Portina Dr Unit 2030, Las Vegas, NV 89138
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

2 beds
2 baths
1,532 sqft
$410,000
Jan 1, 2026
$268/sqft/sqft
2566 days on market
11830 Tevare Ln Unit 1064, Las Vegas, NV 89138
Market Benchmark

Sold at market average

2 beds
2 baths
1,466 sqft
$400,000
Jan 1, 2026
$273/sqft/sqft
623 days on market
11865 Tevare Ln Unit 1079, Las Vegas, NV 89138
Market Benchmark

Sold at market average

2 beds
2 baths
1,466 sqft
$395,800
Jan 1, 2026
$270/sqft/sqft
262 days on market
820 Canterra St Unit 1054, Las Vegas, NV 89138
Market Benchmark

Sold at market average

2 beds
2 baths
1,466 sqft
$365,000
Jan 1, 2026
$249/sqft/sqft
442 days on market

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$2,032/mo
89138 Avg Rent
89138 Cost to Own
Rent$2,850
Own$4,882

20% down, 6.5% rate, 0.6% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

89138 Avg nightly rate
89138 Avg occupancy (days/year)
Nightly rate$143/night
Occupancy86 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

GemHaus

Get personalized market intelligence

Unlock deeper property intel in Las Vegas, NV valuations, rent comps, operating costs, and pro-forma breakdowns.

Nearby Market Reports