The Market is Slowing—

Here’s the Proof

The strongest signal of a cooling market is days on market (DOM) climbing.

• Median DOM: Up 9%

• Average DOM: Up 8%

Homes are sitting longer, giving buyers more negotiating power and forcing sellers to

get realistic on pricing. The “sell in a weekend” days of 2021 are over.

But there’s a twist: many withdrawn listings are being re-listed, which skews the

numbers.

• 170 listings withdrawn last month

• 127 re-listed (74%)

• Median DOM before withdrawal: 130 days

• Median cumulative DOM: 140 days

Pricing Trends

• Median Sale Price: Flat at $485K

• Average Sale Price: Down 4%

• Average List Price: Down almost 6%

The mid-market is holding steady, but high-end listings are seeing the most pressure. Sellers are cutting prices frequently to keep up with buyer expectations.

Inventory & Sales

• Inventory: Up 2%, now at its highest level in years

• Closed Sales: Up 4%

Even though sales increased slightly, price cuts remain common, and buyers are taking their time. The days of overbidding are long gone.

New Trends Emerging

We’re also tracking fresh signs of market change:

• Foreclosures: 37 in progress, 49 bank-owned listings active.

• Short Sales: 48 currently on the MLS.

• Sale + Rent Listings: 170 homes are listed both for sale and for rent.

These indicators suggest shifting leverage and more creative selling strategies in play.

What Buyers Need to Know

If you’ve been waiting for rates to drop, you may want to rethink that plan. Interest rate cuts keep getting delayed, and when they do drop, competition will spike.

Right now:

• Buyers have leverage to negotiate price, closing costs, rate buy-downs, commissions, close dates, furniture, or even solar payoff.

• You can buy now, lock in a lower price, then refinance later when rates fall.

• Inventory is high, and sellers are making concessions to move their homes.

Bottom line: qualified buyers are in the driver’s seat.

What Sellers Need to Know

You can still sell—but not at 2021 prices.

• Homes in good condition and priced competitively are selling.

• Overpriced or fixer-upper homes are either sitting or getting price cuts (often $10K+).

• Buyers have options and aren’t desperate. If your home isn’t move-in ready, expect to offer incentives or lower your price.

Neighborhood-by-Neighborhood Breakdown

Here’s what’s happening across key areas:

• Summerlin: DOM up 52%, sales down 13%. Prices holding, boosted by builder incentives on new construction.

• Henderson: DOM up 50%+, but sales rose. Desirable homes still move here.

• Northwest: DOM up, listings down—many sellers pulling back.

• Southwest: General softening, slight DOM decrease.

• North Las Vegas: Sales up, prices up slightly. Affordability is driving demand here.

Is This a Crash? No. But Strategy Matters.

This is a cooling market, not a collapse. Buyers are gaining leverage, sellers are adjusting expectations, and investors are watching affordability trends closely.

The key is to have the right strategy:

• Buyers should negotiate now before rates drop and competition returns.

• Sellers need realistic pricing and a home in good condition to attract today’s cautious buyers.

• Investors should track foreclosures, short sales, and dual sale/rent listings for opportunities.