September Single Family Residential (SFR) closed sales were down 5.75% from August but 7.9% higher than at this time last year. The median closed sales price of a SFR dipped 0.49% to $233,850 while the average closed sales price of an SFR dropped 0.70%, falling from $269,222 to $267,327. Yet, SFR closed sales are 6.5% better than at this time in 2015. Condo/Townhome sales are up 16.3% over 2015 while Hi-rise closings are up 13.9% compared to last year.
We have mentioned in previous blog posts that the Greater Las Vegas Real Estate Market continues to struggle more that many other markets with conventional financed transactions. The first chart below shows the Las Vegas market for all price points.
So which price points enjoy momentum in this market even as other price points are flat or falling? Here they are:
Finally, here are how selected communities have performed over the past six months.