WHAT IS HAPPENING IN THE LAS VEGAS HOUSING MARKET TODAY

WHAT IS HAPPENING IN THE LAS VEGAS HOUSING MARKET TODAY

The Greater Las Vegas Association of Realtors released housing stats for the Las Vegas Market.

                     69% of our SINGLE FAMILY inventory sold within 30 days

                     12% of our SINGLE FAMILY inventory sold within 60 days

                       6% of our SINGLE FAMILY inventory sold within 90 days

Anything priced $325,000 or below moved very quickly.  Home prices year over year have been increasing 8-9%.  Currently we have a 2 month’s supply of available houses. In a normal market we would have a 6 month’s supply of houses.  So, in that respect it is a Seller’s market.  We need a larger housing inventory.  So, if you are thinking of selling, now is a great time to do so. 

However, if you are a buyer don’t feel dismayed.  If you are comfortable with a housing payment and are tired of rising rents, go ahead and buy.  The median price is now $238,000, while the historic high was $315,000. This shows that there is still plenty of room for growth.

Author: Rhoda Stock
Phone: 702-524-6574
Dated: April 13th 2018
Views: 97
About Rhoda: ...