Las Vegas Housing Market Update - November 2018

The number of homes for sale continues a steady increase.  Today we have 6915 single family homes for sale.  Condos and town homes add 2046 options.  Home buyers have a total of 8961 homes available today.  That’s up slightly from 8831 last month.  It’s a huge increase over the 5564 homes for sale this time last year.  It’s only .01% over last month’s inventory.  It’s a 61% increase over last year.

We sold 2299 Single Family Homes in November.  We sold 625 condos and townhomes.  Total homes sold was 2927 for the month.  That’s 14.6% less than in October.  It’s 8.8% less than we sold in November 2017.

The median home price remained stable at $295K in November.  Highest for the year was $300K in

Spring is almost here and with it, the Spring home buying and selling season.  This year promises to be a challenging market for Las Vegas home buyers.  We have a low inventory of homes listed for sale.  Luckily, our home builders have started new subdivisions all around town.  The new homes provide an option for buyers who don’t see what they want in the resale market.

Home sellers should do well this Spring.  The median price is still lingering around $220K with February’s median at $220,350.  If inventory stays low, demand from Spring buyers may push prices up a little.  

What’s For Sale in Las Vegas and Henderson?

The Greater Las Vegas MLS shows 7172 Single Family Homes available for sale.  Condos and townhomes add 2324 more listings.  Buyers

Housing Market in 2016

The stock market volatility has not dampened home prices.  A Forbes' article examines reasons home prices appreciated 7.6% over the past twelve months.  As NAR's Chief Economist Lawrence Yun explains, the continuing home price appreciation is a result of low inventory.  The number of homes built from 2009-2015 didn’t keep up with the combined demands of population growth and homes that are no longer usable.  Add continued low interest rates and 2016 still looks promising for the Real Estate market.

What’s For Sale in Las Vegas and Henderson

As of today there are 6543 single family homes listed for sale.  We find 2289 condos, townhomes and high rise properties listed.  Buyers have a total of 8832 homes available today.  Over

NAHB’s International Builder’s Show is all about the latest design trends.  It was held in Vegas last week and we saw some awesome products.  The show was packed.   A sure sign that things have changed since the doom and gloom years of the housing collapse.  This is a great show to attend if you are serious about Real Estate.  The show also covered the economic outlook and the demographics of today’s buyers.  It's a must go event for anyone involved in the housing market.

Exciting Design Trends for 2016

Before we get to the economic news for 2016, the new design trends are awesome.  Our favorite was the “Culinary Preservation Centers” by Thermidor.  Judging from the number of people jumping in front of the camera to open them, they’re a hit.  These

Homes For Sale in Las Vegas and Henderson in 2016

As we start the New Year, there are only 6833 Single Family Homes listed for sale in the Greater Las Vegas MLS.  Condos, townhomes and high rise properties add another 2176 options for buyers.  Buyers in today's market can choose from a total of 9029 homes for sale.  This is down from 9768 in early December and 9821 homes for sale in January 2015.

Out of the current listings, only 703 of the single family homes are short sales.  Short sales are involved in 161 of the condos, townhomes and high rise condos.  Foreclosures offer 298 single family homes plus 86 condos, townhomes and high rise condos.  Only 13.8% of the current listings are distress sales.

What SOLD in December 2015?

We closed

Homes For Sale in Las Vegas and Henderson

The Greater Las Vegas MLS has 7359 single family homes listed for sale today.  Condos, townhomes and luxury high rise condos add another 2409 properties available for sale.  Buyers have a total of 9768 homes to choose from.  This is the first time we've been below 10,000 homes for sale since August.  Last month we were at 10,348.  In December 2014 we had 10,511 homes for sale.

What Sold in November 2015?

We sold 1902 single family homes through the MLS in November.  Another 512 condos, townhomes and high rise condos sold in November.  A total of 2414 properties closed last month.  That's down from 2912 in October but close to the 2421 homes that sold in November 2014.  

Distress Sales

Short sales

Homes For Sale in Las Vegas and Henderson

We have 7870 single family homes listed in the Greater Las Vegas MLS today.  There are 2478 condos, high rise condos and townhomes on top of the single family homes.  Total number of listings is 10,348.  That's a slight increase over 10,203 last month.  In November 2014 we found 10,702 homes for sale.

What Sold in October 2015?

We closed 2342 single family homes through the MLS last month.  High Rise, condos and townhomes accounted for 579 closings.  Total number of homes sold in October was 2921 for the Greater Las Vegas MLS.  That's a drop from 3165 in September.  It still beats the 2788 homes sold in October 2014.  

Distress Sales in LV

We still see short sales but they continue to decline in

Homes For Sale in Las Vegas and Henderson

There are 7799 single family homes listed for sale in our MLS.  Condos, townhomes and high rise condos offer 2404 options to today's home buyers.  That's a total of 10,203 homes for sale.  That's only slightly higher than last month's 10,114.  It is lower than the 10,530 in October 2014.  

What Sold in September 2015?

We sold 2609 single family homes through the Las Vegas MLS in September.  We sold 556 condos, townhomes and high rise properties.  The total number of homes sold in the Las Vegas area was 3165.  That isn't bad for a month that included back to school plus Labor Day week-end.  

We sold a total of 3358 homes in August 2015.  Homes that close in September go into contract in August.

As seen on FOX News, "The Property Man" Show, this contemporary loft style condo can be yours.  Enjoy the great location near all  the excitement of the Downtown Las Vegas scene.  Walking distance to the thriving Arts District and First Friday.  Convenient to the Premium Outlet Mall, World Market Center and The Smith Center.  The area is attracting lots of trendy new restaurants and clubs.  There's always the excitement of Fremont Street.

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• Enjoy the rooftop pool with views of the Red Rock Mountians and the Strip.  

Homes For Sale in Las Vegas and Henderson

Ready to buy a home in the Las Vegas area?  The Greater Las Vegas MLS has 7757 single family homes available for buyers.  Condos, town homes and high rise condos add another 2357 options.  We have a total of 10,114 properties available today.  That's the first time we've crossed the 10,000 mark since December 2014.  It's about the same number of homes available as we found a year ago.  In September 2014 there were 10,161 homes available.

While the number of homes listed for sale is edging a little higher, we saw the same pattern in the Fall of last year.  We've sold an average of 2478 homes per months for the past year.  At that rate, the current inventory of homes would last 4 months if no new homes became