Las Vegas Real Estate Market Update – August 2016

IMAG0021Property Management Permit Pre-Licensing Course!

Once again it’s time to shamelessly plug Americana’s Pre-Licensing Property Management Permit course – again! This course is excellent – even for those who just want to learn more about Landlord Tenant laws in Nevada.  Do you want to learn how to prevent or spot embezzlement – before it becomes a problem?  Would you like to learn foolproof techniques for reconciling your trust accounts? There are lots of “how to” for brokers and licensees who want to become property managers and do it right!  Boring is NOT a word anyone has ever used to describe this course.  Registration is now open.  See you there.

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

The class runs Aug 18th through Aug 20th.  Walk-ins are welcome on Thursday beginning at 7:30 am, Aug 18th in our Summerlin office at 10777 W. Twain Ave., Suite 333!

Las Vegas Market Overview

July closed sales are down 13% from June and 11% lower than at this time last year.  The median closed sales price of a Single Family Residence (SFR) inched up from $235,000 to $236,000 while the average closed sales price of an SFR dipped slightly, falling from $276,482 to $275,885.

Click Here for the current Market Update

Click Here for Additional Las Vegas Market Update Charts

Much of the drop in closed units was in those homes under $500,000.  Sales remained steady strong in the $500,000 – $750,000 price ranges.  The charts below will also show how the Las Vegas market compares to both Southern California and Phoenix/Scottsdale in the sale of Single Family Residence.

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CA-blogpics-july2016_Page_03The good news this month is the reduction in over priced homes:

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Let’s Take a Closer Look at the Market Value trends Phoenix/Scottsdale, Southern CA, and Greater Las Vegas !

CA-blogpics-july2016_Page_02 AZ-blogpics-july2016_Page_2 blogpics-july2016_Page_05

 

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Categories: Market Stats, MLS, Pricing, Property Management | 2 Comments

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2 thoughts on “Las Vegas Real Estate Market Update – August 2016

  1. hello guys I am Rahul kumar from india , thanks for sharing information regarding property management ,
    actually property management is a challenge now a days who live out of city face major issue like – searching tenant , visits , documentation, verification , property tax, tenant issue , property issue etc. metro city specially in india as noida delhi , gurgaon etc so we this link help you property management company in noida which provide you best solution of your all issue relative your property, so we think a idea and implement it in real time so that who live out of cite and want take such kind of services relative his property .
    thanks.

    Like

  2. Mark E. Rowley

    Was in several classes at the Association over the last few weeks…..When quizzed about the “squatter” problem that is off the chart because of the thousands of properties that are vacant in Clark County, one instructor said that NVAR’s, NVRPAC will be addressing it in this session……The state association gave hundreds of thousands of dollars in campaign contributions last cycle…..But not one BDR…..?

    Please give us the current amount of permits being pulled for the Phoenix area…..If we are six to nine months behind that market, we should start to see a dramatic rise in our new home construction soon….Or does that thinking no longer apply since their market places mortgage deliquincy rate is below 2% and ours in still pushing just under 6%…..?

    Mark E. Rowley …..ROG….W. Charleston….

    Like

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