AT HOME IN VEGAS

Latest Las Vegas Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

June 17, 2020

Basic Stats for Las Vegas May 2020

June 9, 2020

COVID-19 Real Estate Safety

June 3, 2020

Week 11 Since COVID-19 Las Vegas Real Estate Market Report

Week 11 since the #ShutDown and we are very open in the Las Vegas Valley as we head into week 12. Amid horrible acts of civil unrest this past week, it appears that most of Las Vegas is open with gaming and hospitality following suit tomorrow night at select venues around the Valley. Let’s do the numbers: Current Residential Inventory in the Las Vegas Valley is 7773 as of 5pm today. (doesn’t include high rise condos) So….we’re holding steady. In the past 7 days: New Listings = 945 which is back about 100 from the prior week Back on market homes = 230 and each week holds steady. New Contracts = 1143 which is up over 100 from the prior week Sold homes = 714 which is finally up again and over 200 from the previous week Withdrawn Listings = 336 which is back from the previous week. Please leave your comments and questions below. Have a Great Rest of Your Week!

May 27, 2020

Week 10 Las Vegas Real Estate Market Update

Week 10 of the #ShutDown and we are not so shut down anymore. 2 days until phase 2 reopening in Nevada and I couldn't be happier about that. Watch the video for analysis, but here are the numbers: Notable number: Current Las Vegas Valley homes under contract is 3,290 but 2,439 of them past 30 days in contract. Why? Loan underwriting? Possibly? Appraisals and inspections backed up? Possibly? Current Residential Inventory in the Las Vegas Valley is 7871 as of 5pm today. (doesn’t include high rise condos) This number decreased about 100 listings with the previous week so not much of a change here. We still have less than 3 months inventory in the Valley based on current buyer demand. (Seller's Market) In the past 7 days: New Listings = 818 which is down about 100 from the prior week which is a good indicator that demand is steady but fewer listings hit the market this week which led to that small dip in the overall inventory. Back on market homes = 203 and each week holds steady. New Contracts = 1033 which is up about 100 from the prior week Sold homes = 482 which is surprisingly down about 20 from the previous week but expect more going forward (Watch the video above) Withdrawn Listings = 267 which has dropped just slightly from the previous week. Please leave your comments and questions below. Have a Great Rest of Your Week!

 

May 20, 2020

Week 9 Las Vegas Real Estate Market Report

After 9 weeks since the #ShutDown began we have see a few trends that have been less than alarming. The good news is that they are starting to show a reversal now that we have entered the second week of the #Phase1 reopening of the local economy. New contracts are up and are continue to trend which is being slowly followed by closed sales. We are for the first time seeing a slowdown in listing being withdrawn from the market as well. May 30th is a big day in Nevada and we will hopefully see some further reopening in other sectors of our economy. See below for the Stats: Current Residential Inventory in the Las Vegas Valley is 7961 as of 4pm today. (doesn’t include high rise condos) This number is very consistent with the previous week so not much of a change here at all. We still have less than 3 months inventory in the Valley based on current buyer demand. (Seller's Market) In the past 7 days: New Listings = 911 which is up 50 again from the prior week. Back on market homes = 221 again. Continuously consistent each week New Contracts = 946 which is right on par with last weeks number Sold homes = 506 which is up about 50 from the previous week & expect more going forward Withdrawn Listings = 279 which has dropped for the first time in a month Please leave your comments and questions below. Have a Great rest of your Week!

May 13, 2020

Week 8 Las Vegas Real Estate Market Update

The #ShutDown has created some unexpected trends but mainly in the way real estate is transacted. What the future holds is still anyone's guess and is certainly less than predictable for more than 30 day time frame. What are the possibilities? Watch the video. As over all sales are down again this week, the number of homes under contract for sale continues to sky rocket. This will definitely start reflected in the numbers in the next 2 weeks. As warmer weather and summer vacation is upon us the residential home inventory continues to climb in a good way. It's giving buyers more options to choose from. Current trends have yet to reflect the potential negative affects of high and long term unemployment as the largest employers in the Las Vegas Valley have been experiencing lay offs. We will continue to track it's impact on the economy but will stay positive about the fact that many are beginning to return to work under Phase 1 of the reopening of the state. Here are the numbers: Current Residential Inventory in the Las Vegas Valley is 7907as of 5pm today. (doesn’t include high rise condos) This number is very consistent with the previous week so not much of a change here at all. We still have less than 3 months inventory in the Valley based on current buyer demand. (Seller's Market) In the past 7 days: New Listings = 862 which is up 50 from the prior week. Back on market homes = 239 which just continues to be consistent each week New Contracts = 933 which is an increase of 100 from the pevious week and growing for nearly a month straight (which is why we will start seeing increased numbers in the sold properties) Sold homes = 444 which dropped over 100 from the previous week, but we know what we are expecting Withdrawn Listings = 305 which is consistent for 3 straight weeks

 

May 7, 2020

Week 7 Las Vegas Real Estate Market Report

#ShutDown Orders will soon be lifted. (we hope) If you have been following along during this time we didn't know how it would effect real estate in our town. Well, it really has not changed the market stats but rather the way homes are being sold during social distancing. Just like the way social distancing has changed everything else in our lives. It would seem that no shortage of toilet paper is going to bring down our home values. In this article from the Wall Street Journal you can get an more in depth idea of why prices are holding steady: https://www.msn.com/en-us/news/other/... Current Residential Inventory in the Las Vegas Valley is 7840 as of 4pm today. (doesn’t include high rise condos) This indicates a jump of nearly 200 additional listings from the prior 7 days. Nothing to worry about here. Watch the video. In the past 7 days: New Listings = 817 which is up 100 from the prior week. Back on market homes = 207 which is remarkably consistent each week New Contracts = 843 which is still trending upwards for 2 straight weeks Sold homes = 623 which is trending back up from the previous week Withdrawn Listings = 323 which is now steady for 2 straight weeks to the numbers we normally experience.

 

 

April 29, 2020

Week 6 Market update

April 22, 2020

Week 5 Real Estate Market Update

April 15, 2020

Thank You to Our Essential Workers