The Las Vegas real estate market is experiencing a slight increase in active property listings, with 3,319 homes for sale, up from 3,312 the previous week, indicating a stable inventory compared to a significant drop from the November-December period of the previous year which had 4,000 homes for sale. Buyer activity has increased compared to the end of the last year, with 633 homes going under contract last week, significantly higher than during the November-December period, which saw activity in the 400s. This suggests more buyers are competing for fewer homes, shifting the market in favor of sellers. New listings added to the market this week numbered 507, with 633 going under contract, illustrating a higher demand than supply. This imbalance is reducing the weeks of inventory available, now just under nine weeks, compared to 12-13 weeks in the November-December period, making the current market more competitive for buyers. Sellers are receiving close to their asking price, with the average list price to sales price ratio at 98.4%. This indicates that well-priced homes in good condition are likely to sell quickly, often with multiple offers, particularly as the median days on market is around 20 days. Historical trends suggest that home prices rise during the spring, supported by data showing a price increase from $425,000 in March of the previous year to $450,000 by July, a $25,000 increase. This trend, coupled with steady interest rates and increased competition among buyers, suggests that now might be a prudent time to buy before prices rise further.