This week the median list price for Las Vegas, NV is $549,000 with the market action index hovering around 30. This is less than last month’s market action index of 31. Inventory has increased to 5,098.

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.