Is Summerlin, NV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summerlin is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Summerlin has remained a Seller's Market.

Key Takeaway

Summerlin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Summerlin, NV

How much do homes in Summerlin, NV cost?

Median Sold Price

$458,461

$282/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$38,837(+9.3%)

Key Takeaway

Homes in Summerlin have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Summerlin was $458,461 in October 2024, up 9.3% from last year, and the median price per square foot was $282.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $182K$195K
+7.1%
2 $350K$395.3K
+13.0%
3 $443.3K$476K
+7.4%
4 $580K$600K
+3.4%
5+ $750K$975K
+30.0%

Summary: Summerlin housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 30%.

Housing Supply in Summerlin, NV

How many homes are available in Summerlin, NV?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
564641+13.7%

Summary: The Summerlin real estate market had 641 homes for sale in October 2024, a 13.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 57
+40.0%
2 252291
+15.5%
3 179195
+8.9%
4 84103
+22.6%
5+ 4445
+2.3%

Summary: The Summerlin housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 2.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
138124-10.1%

Asking Price vs. Sold Price

78 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summerlin, you may be able to get a good deal. 62.9% of homes here sold below asking price last month.

Summary: A total of 124 homes were sold or pending in Summerlin in October 2024, down by 10.1% month-over-month. Of the 124 sold homes, 63% were sold under asking, 23% were sold at asking, and 15% were sold over asking.

Days on Market for Summerlin, NV

How long does it take to sell a home in Summerlin, NV?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days31 Days+24.5%

Summary: Homes in Summerlin had an average of 31 days on market in Oct 2024, up by 24.5% compared to last year.

Breakdown of Home Sale Times

80 Homes Were Sold
Under 30 Days

36 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Summerlin are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 124 homes were sold in Summerlin; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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