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Las Vegas Real Estate Trends and Area Housing Market Report, August 2015

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Real Estate Agent with Berkshire Hathaway HomeServices S.47776

 

 

 

Las Vegas Real Estate Trends and Area Housing Market Report, August 2015

 

If you are interested in buying and/or selling a Home in the Las Vegas area and want to know what is happening in the Las Vegas area market see below.

 

July’s 2015 medium price for single Family Homes for the Las Vegas Area was $218,000 down  0.9 percent from June’s medium price of $220,000 but, up 9.0 percent from a year ago which was $200,000. Sales volume of Single Family Homes for July was 3,180 up 4.1 percent from June’s 2015 of 3,056 and up 20.4 percent for July 2014 which was 2,642.


The total number of Single Family Homes Listed for sale on GLVAR’s (Greater Las Vegas Association of Realtors) Multiple Listing Service (MLS) for July was 13,616 down 0.7 percent from July of last year. The effective months of inventory was 2.4 months for the second consecutive month. A six month supply of homes would be considered a balanced market.


The medium price for Condominiums and Townhomes for July 2015 was $115,000 even with last month, June’s 2015  medium price of $115,000 but, up 8.5 percent from July 2014 which was $106,000. Sales volume for Condo/Townhomes was 635 down 0.3 percent from June’s 2015  of 637 and down 5.5% from a year ago which was 672.


The effective months of inventory for Condominiums and Townhomes was 3.7 months again the same for June 2015 of 3.7 months and up from 5.4 percent from a year ago which was 3.5 months.


Keith Lyman GLAVR’s President said “Home prices have been increasing, but at slower pace than the past few years. It’s also good news that we’re selling more homes throughout Southern Nevada this year than we did last year.”

 

Distressed home sale – Short Sales for July 2015 was 7.1 percent of sales that’s down from 11.5 percent from last July of last year.  Bank owned home sales were 7.7 percent of sales that’s down from 9.1 percent from a year ago.


Cash sales were 27.1 percent of all sales for July 2015, that’s down from 35.6 percent from a year ago. Suggesting that cash buyers and investor are becoming less influential in each passing month for our market.


Click here to view the July 2015 GLVAR Housing Statistics


The market is HOT and now is the time to sell! I will help you find serious buyers in this market. Find out what your home is worth, and call me if you would like to know more about selling your house TODAY! (702) 326-7473 or visit our website.


 


 

 

 

 

 

 

Comments (1)

Matt Mortensen
Berkshire Hathaway HomeServices - Las Vegas, NV
Real Estate Agent, Las Vegas

Great analysis of the Las Vegas market based on GLVAR statistics. Thanks for sharing!

Sep 04, 2015 10:31 PM