Las Vegas and Phoenix Market Update – September 2012

Navigating the Current Las Vegas Market

Property Management Permit Course!

First, I am going to shamelessly plug Americana’s Pre-Licensing Property Management Permit course that was recently approved by the Nevada Real Estate Division. This course is excellent even for those who want to learn more about Landlord Tenant laws in Nevada. Registration is now open.

Just click here to view the course and/or register.

However, walk-ins are welcome on Thursday morning beginning at 7:30 am, September 13th in our Summerlin office at 10777 W. Twain Ave.!

The Current Las Vegas Market

Single family residential (SFR) closings for August 2012 were up 6.6% from July 2012 despite being down 17% from August 2011.  Overall inventory which had been declining month after month saw a small increase as we are back at the 5600 unit level.  Most areas in Greater Las Vegas have approximately a 6 week supply of inventory or less.  Yet, the best news is that the median price of an SFR rose from $120,000 to $138,000 for a 15% increase during the last twelve months.  However, condos and townhomes rose by 21.5% during the same period.

Click here to Download the Current Market Report for Las Vegas and Phoenix

Let’s Compare Market Segment Closing Changes for the Past Year!

How Does Phoenix Compare to Las Vegas?

Market Momentum: Las Vegas vs Phoenix

Oh – by the way – there is no AB284 in Arizona!  Well . . . back to NFL games and watching political commercials!

Happy Birthday Leslie Carver!

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3 thoughts on “Las Vegas and Phoenix Market Update – September 2012

  1. Forrest, as always your reports and stats are always interesting and informative, and much appreciated. I am a little confused with the first sentence of the Current Las Vegas Market report. Did you mean current closings for August are up 6.6% from August of 2012 despite being down 17% since August 2011? Did not want to Assume.
    Thanks

    Like

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