Las Vegas, NV 89166 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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's most representative recent sale indicator is the median sold price 521,500, which should be treated as the primary signal of market value and recent transaction outcomes rather than asking prices.
2. There is a persistent gap between the median listing price 597,109 and the median sold price 521,500, which suggests pricing friction where seller expectations may be higher than realized transaction values; this gap appears to give buyers negotiating leverage in many cases.
3. Market liquidity shows slower sales velocity consistent with a median days on market of 57, which, combined with the price gap, suggests moderate transaction velocity and that listings may require longer exposure to reach contract; this pattern appears balanced rather than strongly one-sided.
4. Interest rate conditions are a headwind: current local averaged 30-year fixed rates are 6.76%, and interest rate pressure is described as elevated, which may be constraining buyer purchasing power even as the market temperature remains neutral and price and rent trends are flat.

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.