OCT 2020 Average Days on Market
Average days on market is an indicator of buying activity. Watching the change, or lack of change, in this statistic year-to-year can give some indication of the current market conditions, as well as where the market may be likely to go in the near-term future.
The first chart above shows average days on market for all price categories year-to-date through Oct 30, 2020 for Las Vegas residential real estate.
The second chart below shows the same statistic for 2019. As you can see, the average days on market has increased for some price categories, but only slightly. Other categories appear to be moving even more quickly than last year.
It is important to note that these are price categories only. They include all types of residential real estate throughout the Las Vegas metropolitan area. Some sub-categories differ dramatically from the overall averages. Consult a Realtor before you assume that overall market stats apply to your home.
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