Slow but Steady Improvement over 2015! February brought a great deal of activity to the Las Vegas market. The median closed sales price of a Single Family Residence (SFR) improved to $220,700 from $218,650 from while the average closed sales price of an SFR jumped 6% to $263,262. There was a slight uptick in bank owned REO sales even as the available REO properties declined.
February continues on a track that is resulting in slow, but steady improvement over 2015 closings. Conventional loan financing is also beginning to bounce back after the lackluster month we experienced in January. There is an overall 3.5 months supply of inventory in Clark County at this point.
Three Year Comparison of Market Changes by Area
At-a-glance market conditions
Each month we take a snapshot of the Las Vegas Market. Our reports is the most up-to date market information available. The Profile shows you not only pricing and market numbers, but also trends in those numbers. Where are prices heading?
Watch the market in meaningful segments
It’s one thing to know that the median price for Las Vegas is, but what if you learned that 25% of the homes are currently priced around $239,900 (and climbing) but at the top end of the market, homes are priced between $500,000 to $749,999 and demand is weak?
Complete statistics give you the upper hand
We offer more than just numbers and stats, we track inventory levels, short sales, REO, Days on Market, what is selling, types of loans buyers are purchasing with. We also track measurements like Sales Price per Square Foot Trends, and geographical measures like properties sold in Summerlin, Henderson, and so on. The collection of data helps you understand what you get, and it’s all FREE here at OnlyLasVegasRealEstate.com. Hopefully this will help you to determine where things are headed and how to make the best decisions.
These insights and more are covered in every Monthly Las Vegas Market Update report. The insights could save you a fortune.
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