The Nevada Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Nevada

💡 Key Nevada housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $437,252[1]#14 of 50 states19.3% higher
Median Listing Price $487,000[2]#17 of 50 states11.3% higher
Median Sale Price $479,000[3]#13 of 50 states17.4% higher
30 Year Mortgage Rate 6.95%[4]#15 of 50 states0.4% lower
Median Days on Market 43[5]#14 of 50 states13.9% shorter
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🗺️ Buying a house in the Nevada real estate market

Nevada has an affordability score of 7.7, meaning it takes 7.7 years of the median household income ($62,043) to afford Nevada's median home sale price ($479,000). Because of this, we rank Nevada as the 10th least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $479,000[6]#13 of 50 states17.4% higher
30 Year Mortgage Rate 6.95%[7]#15 of 50 states0.4% lower
Median Household Income $62,043[8]#26 of 50 states3.9% lower
Affordability Ratio 7.7#41 of 50 states23.6% higher
Buyers Agent Commission 2.90%[9]#41 of 50 states8.4% higher
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Resources for Nevada home buyers

🗺️ Selling a house in the Nevada real estate market

According to our detailed survey of Nevada real estate agents, listing agents (those representing the seller) charge an average commission in Nevada of 2.9%, which is the 19th highest in the United States. Buyers' agents charge an average commission of 2.9%, which is the 10th highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $487,000[10]#17 of 50 states11.3% higher
Median Sale Price $479,000[11]#13 of 50 states17.4% higher
Median Days on Market 43[12]#14 of 50 states13.9% shorter
Buyer's Agent Commission 2.90%[13]#41 of 50 states8.4% higher
Listing Agent Commission 2.90%[14]#32 of 50 states1.5% higher
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Resources for Nevada home sellers

Moving to Nevada

According to our recent moving trends survey[15], 7% of Americans indicated that they would choose to move to Nevada if money were no object. Likewise, 14% of survey respondents indicated that they would move to Las Vegas among a choice of America's largest cities.

Here's how Nevada cities rank in a number of our research studies.

StudyBest Nevada cityRank
Best Pizza Cities[16]Las Vegas18th best
Best Coffee Cities[17]Las Vegas9th best
Best LGBTQ Cities[18]Las Vegas3rd best
Best Bike Cities[19]Las Vegas33rd best
Best Commuter Cities[20]Las Vegas25th best
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[3] Redfin – "Redfin Data Center". Updated March 2024.
[4] Bankrate – "Bankrate". Updated May 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[6] Redfin – "Redfin Data Center". Updated March 2024.
[7] Bankrate – "Bankrate". Updated May 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[11] Redfin – "Redfin Data Center". Updated March 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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