It’s been a busy spring season with lots of activity. While closed sales dipped 15% month over month, the number of homes under contract increased by 16%, which should help support closed sales heading into May. Median pricing also improved, with the median sold price rising to $1,715,000 and the median price per square foot increasing to $464.
That said, conditions vary widely by price range. Homes in the $750k to $2M range are still in seller’s market territory, while the $3M to $8M range is surprisingly balanced. The remaining price ranges are favoring buyers, with 9 or more months of supply. Sellers should be aware of this because elevated supply means buyers have more options and more negotiating power.
Whether it was the result of unrealistic starting prices or sellers getting caught in a shifting market, 17 homes required 2 or more price reductions to get to the finish line—and some homes took over 5 months to sell. However, when you look at the market as a whole, 89% of homes sold within 90 days of being priced right—and 12% even sold above the original asking price.
Half of guard-gated buyers paid cash last month, reinforcing the role that liquid, well-positioned buyers continue to play in this market.
If you’re considering selling, understanding your specific price segment is critical. And if you’re buying, opportunities continue to expand in the ranges where supply is elevated. For a clear strategy based on your goals, call us at 702-605-7482 or visit robjensen.com.
Understanding the Data
Active Listings are homes that are currently on the market and available for sale. This is the pool of options that buyers can choose from at any given time.
Under Contract (also referred to as Pending or In Escrow) means a buyer and seller have agreed on a deal. From there, it usually takes 30–45 days to complete inspections, finalize financing, and close the sale.
Closed Sales represent homes that have completed the entire sales process. The buyer and seller have fulfilled all conditions, funds have been transferred, and the property has officially changed ownership.
Expired indicates a home was on the market, but the listing agreement expired and the home failed to sell.
Months of Supply is one of the most reliable indicators for gauging the balance between supply and demand in any housing market. It measures how long the current inventory would last at the existing sales pace—expressed in months, not the number of homes for sale. Around 6-7 months of supply is considered a balanced market. When supply falls below that level, it becomes a seller’s market where prices tend to rise; when it rises above, it shifts to a buyer’s market where prices may decline. The further Months of Supply moves from this midpoint, the stronger those price movements tend to be.
Market Trends – March 2026
Sold Properties – April 2026
You can download a detailed spreadsheet of last month’s sales data—including final sold prices, original list prices, price reductions, previous sales dates, percent appreciations, and more—by clicking here.
Please reference the following info to help you understand the spreadsheet:
*Sold without being listed on the Multiple Listing Service (MLS).
†Missing data for the % Increase, Last Sold Price, and Last Sold Date because there was no prior sale as a completed property.
§Previous sale was a foreclosure transfer/trustee sale.
When you encounter a negative number for % OFF LAST PRICE and % OFF ORIGINAL PRICE, this means the sales price was higher.
REO – Real Estate Owned/Bank Foreclosure
DOM – Days on Market
