Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
It seems that August was the only month this year that bettered last year’s performance. In fact, we are on track to have our worst closing year since either 2008 or 2006. But at the time 2006 was a banner year!! Yet, the luxury market and the high-rise market continue to outperform the other segments and remain strong. The average sales price of an SFR dropped from $583,291 to $550,802 due primarily to fewer luxury market closings. However, the median rose from $448,000 back to $450,000 because the mid and lower price point closings dropped proportionately.
We are back to 3 months of inventory due to fewer closings and fewer listings taken. But the September distressed sales dropped significantly compared to August. Closings benefitted from more cash transactions than last month. Will just have to watch the political chaos this last quarter.
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