How to read a Las Vegas market report.
The numbers, what each one means, and how to turn a report into a decision.
Market Reports
Real estate reports can feel written for professionals. This guide translates the standard numbers into plain language so you can read any Las Vegas report and walk away knowing what it means for you.
For my current read on the Valley, see the market report page, and for the trends behind the numbers, the market trends guide.
The numbers
Six numbers worth understanding
Median price
The midpoint of sales, a useful temperature check even though it is not your home.
Active vs. pending
Supply on the market versus what is already under contract, a demand gauge.
Absorption rate
How many months it would take to sell current inventory at the current pace.
Sold-to-list ratio
How close final sales prices come to list, a direct measure of negotiating room.
Days on market
How long homes sit, and a real signal of whether buyers or sellers have the pace.
Closed sales
Volume, which tells you how active the market actually is.
From report to decision
A report tells you the market. A strategy tells you what to do in it.
Buying with the report
Use absorption and sold-to-list to shape how aggressive your offer should be.
Buyer strategySelling with the report
Days on market and sold-to-list shape whether you price sharp or patient.
Seller strategyInvesting with the report
Volume and absorption give you a feel for rental demand and hold-versus-sell timing.
Investor strategyYour number matters more
Your home is not a median.
Reports are the backdrop. Your specific home and situation are the subject.