Las Vegas Real Estate Market Update – September 2015

Last Property Management Permit Course for 2015!

PMPermitFlyer

 Las Vegas Market Overview

Market values improved slightly as buyer confidence and demand continue to be strong in the Greater Las Vegas market. Inventory availability is also up with the SFR inventory hanging around 2.8 months of available inventory.  Over pricing continues to decrease somewhat as both sellers and listing agents begin to deal with the over pricing reality. Those who believe that exiting listings create valid comparable market pricing are finally beginning to understand that only Sold comps are in alignment with market values.

BlogPicsAug2015_Page_1

Click Here for the current Market Update

Click Here for Additional Las Vegas Market Update Charts

August SFR closings were down 9.8% over July but nearly 12% higher than August 2014.  The median sales price of an SFR improved to $220,000, while the average price inched up to $262,215 for a 1.4% increase over last month.  This is the new “normal” for the Greater Las Vegas market.  It’s slow, steady, but not sexy growth.  That’s just fine!  Embrace the sanity that comes with this market and let’s just hope it continues in this relatively boring manner for several more years!

BlogPicsAug2015_Page_3

Here is a look at inventory, sales, and months supply by geographic area for August 2015 and how is compares to August 2014.

BlogPicsAug2015_Page_2

SFR-ByArea-Aug2014

 

 

Advertisements
Categories: Market Stats, MLS, Pricing, Property Management | Leave a comment

Post navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: