Market Snapshot
- Median listing price
- $938K
- Median rent
- $2,850/mo
- Days on market
- 148 days
- Gross rental yield
- 3.65%
- STR vs LTR
- $1,097/mo STR · $2,850/mo LTR
The median listing price in Las Vegas, NV ZIP 89138 is $937,500 as of May 2026.
The median market rent in Las Vegas, NV ZIP 89138 is $2,850/month as of May 2026.
The median days on market in Las Vegas, NV ZIP 89138 is 148 days as of May 2026. The market is currently neutral.
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.
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.
Market Metrics
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
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
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.
Key Findings
-
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.
-
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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
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.
Market Metrics
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
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
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.
Key Findings
-
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.
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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.
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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.
-
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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold at market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.6% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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