Nevada real estate trends (May 2022)
How is the real estate market in Nevada?
🏠 Average home value: $454,967
📈 1.89% home value increase month over month
💰 Median sale price: $447,300
⏳ 32 days on the market
🔑 Homes on the market: 4,684
📆 2.8 months of housing inventory
🏦 30-year mortgage rate: 2.98%
💵 Average income: $61,439
State of the market: A
Homes are selling quickly right now. But there's been a sudden surge in inventory, which is giving buyers more time and leverage when looking for a house.
*Data last updated May 2022
Nevada immediately calls to mind the bustling casinos, showstopping musical revues, and walk-in wedding chapels that line the neon-lit Las Vegas Strip.
But residents know the Sagebrush State has so much more to offer. Nevada has more than 400 hiking trails that guide visitors and residents through stunning mountains, lakes, and forests. Its dry, desert climate is ideal for those looking to escape humid summers.
Best of all, there's no income tax!
If you're thinking of buying or selling in Nevada, these Nevada housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Nevada
Nevada real estate market forecast for sellers
⏰ Homes are selling 5 days faster than the annual average
💰 Homes are selling for $42,643 more than the annual average
💸 Average listing commission: 2.50%
💸 Average buyer's commission: 2.50%
How to sell a home in Nevada
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Nevada (June 2021 Rankings)
- 8 Steps to Selling a House in Nevada
- How to Sell a House By Owner in Nevada (2021 Update)
- 4 Best Nevada Flat-Fee MLS Companies in 2021
- We Buy Houses for Cash Companies in Nevada (2021 Rankings)
Cost to sell a home in Nevada
Buying a home in Nevada
How much home you can buy with $300,000 in...
🏠 Las Vegas: 1,163 sq ft
🏡 Carson City: 974 sq ft
🏡 Reno: 877 sq ft
🏠 Elko: 1,382 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Nevada
- The Best Time to Buy a House in Nevada
- Everything You Need to Know About Moving to Nevada
Investing in Nevada real estate
- Top 5 Best Real Estate Investment Markets in Nevada
- The Ultimate Guide to Flipping Houses in Nevada
- A Beginner's Guide to Buying an Apartment Building
Best of Nevada
Each month, we compare cities in Nevada based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Nevada
1. Sunrise Manor
3. Spring Valley
Worst of Nevada
Each month, we compare cities in Nevada based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Nevada
1. Carson City
3. Las Vegas-Henderson-Paradise
- Department of Business and Industry - Nevada Real Estate Division
- Nevada's real estate license verification
- Nevada's real estate agent code of conduct
- Nevada's disclosure forms
- Transfer taxes in Nevada
- Home buying assistance programs in Nevada
Frequently asked questions about Nevada real estate
It is currently a buyer’s market in Nevada. The large amount of homes on the market is giving buyers a lot of choices and leverage to negotiate a lower price. While that may be the case for the state as a whole, each city and town is different, so it’s still best to consult with a local real estate agent before making any decision.
Investing in Nevada real estate is a good choice, especially in a city with a high population like Las Vegas, where housing is always in demand. However, to ensure that your investment pays off, you will first need to learn which types of properties are most profitable and which neighborhoods to buy in. Read our guide to investing in real estate to learn more.
Although listing prices are higher than most other states, it might be a good time to buy a house in Nevada right now. The fact that there is a large housing inventory could help buyers negotiate a lower price, and the low mortgage rate in the state makes for even more savings in the long run. To know all your options, work with a top real estate agent near you.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.