Las Vegas, NV 89138 Real Estate Market Report

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.

Market Metrics

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

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

Liquidity & Velocity

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

Key Findings

1. The neighborhood's primary market indicator, median sold price 687,000, reflects realized transaction-level value and is materially below the median listing price 907,000, creating a spread that may indicate pricing friction between seller expectations and what buyers are paying.
2. Median days on market 132 combined with a relatively constrained active supply in the analyzed sample suggests moderate transaction volume and longer time-to-contract rather than rapid turnover, which may favor buyers who are patient.
3. Median price per square foot 360 alongside median market rent 2,895 provides context for valuations and supports using price-per-square-foot as a primary comparability metric; this juxtaposition offers a useful benchmark for assessing individual SFR and condominium offerings and context for price-to-rent comparisons.
4. Broader indicators—price year-over-year trend flat, market temperature neutral, rent year-over-year trend up, and interest rate pressure moderate—point to a balanced local market where modest buyer leverage exists but steady rental growth and neutral temperature are preventing a material cooling.

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.