Las Vegas Real Estate Market Update – October 2016


wdm-2Greater Las Vegas Market Overview

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.

Click Here for the Current Market Update

Click Here for Additional Las Vegas Market Update Charts

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.

blog-pics-sep16_page_09

blog-pics-sep16_page_15

blog-pics-sep16_page_16

 

So which price points enjoy momentum in this market even as other price points are flat or falling?  Here they are:

 


blog-pics-sep16_page_18

blog-pics-sep16_page_19

Finally,  here are how selected communities have performed over the past six months.

blog-pics-sep16_page_10

blog-pics-sep16_page_11

 

Advertisements

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