Las Vegas real estate market report December 2020

By
Real Estate Agent with Realty One Group # S.0190863
https://activerain.com/droplet/5pSP

Our outside temperatures may be cooling down in Las Vegas, still our real estate marketplace is hotter than ever. Especially for singles family homes in Las Vegas. Let’s take a closer look at the Las Vegas real estate marketplace in November and pick apart the numbers.

 

At the end of November, the greater Las Vegas area had 8,417 houses available on the market. That is down 10.7% from the month before and down 19.1% from November of the previous year. With Condos and townhouses, we only had 2,341 available and that was down 9.0% from the month before and down 10.8% from the previous November. Some attribute this to the influx of folks leaving the high taxes and cost of living in California since more companies allow their workers to work from home.

 

In November there were 2,766 new listi8ng of houses that became available in Las Vegas and 672 new condominiums and townhouses that became available.

 

But of course, what every owner wants to know is what happened with sales and with prices.  Well, that is good news.  In November there were 3,035 houses sold in Las Vegas and there were 726 condominiums and townhouses sold. For houses that is an increase of 26.1% from the previous November. For condominiums and townhouses that was an increase of 34.7% from the previous November.

 

The best news of all? For the 6th month in a row, the Las Vegas area set a record high for median sales prices of single-family homes at $345,000. Median sales prices of condominiums and townhouses also went up to $199,700.

 

Here is a brief video with the news:

 

 

 

 

 


Rocky Dickerson Rocky Dickerson Rocky Sells Vegas Rocky Sells Vegas Peccole Ranch Peccole Ranch Summerlin Houses Summerlin Houses Sell My Summerlin Home Sell My Summerlin Home What Is My Vegas Home Worth What Is My Vegas Home Worth What Is My Summerlin Home Worth What Is My Summerlin Home Worth Peccole Ranch Houses Peccole Ranch Houses

 

 

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Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Nina Hollander of course your inventory is way down. Because Nina keeps selling them!

Dec 17, 2020 06:32 AM #7
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Donald Urschalitz yes the markets have been keeping hot indeed

Dec 17, 2020 06:33 AM #8
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Wayne Martin you may be right. Perhaps the Las Vegas REALTORS should contribute to his reelection.

Dec 17, 2020 06:34 AM #9
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Kat Palmiotti I agree. A lot of great news for the sellers here.

Dec 17, 2020 06:35 AM #10
Rainmaker
3,525,673
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Sellers in Las Vegas will be glad to read this news Rocky. Setting a new high median price record for 6 months in a row is really great information for sellers!

Dec 17, 2020 07:36 AM #11
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning and thank you Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 trying to learn from you how to spread the good news!

Dec 17, 2020 07:40 AM #12
Rainmaker
2,226,061
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Thank you for sharing this market update!

Dec 17, 2020 07:58 AM #13
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Joe Jackson and thank you for posting this comment today!

Dec 17, 2020 08:09 AM #14
Rainmaker
3,699,258
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Rocky, thanks for the report for Vegas to share with us here in the Rain.  Make it a good day!

 

Dec 17, 2020 08:27 AM #15
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Will Hamm thank you for the very kind words. Make it a great day!

 

Dec 17, 2020 08:41 AM #16
Ambassador
4,523,328
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Rocky- I am always iffy on videos but your video market report is exceptionally well done!!!

Dec 17, 2020 09:40 AM #17
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Hello and thank you very much Kathy Streib I actually took a few tips I learned from folks here on AR and combined them here. Maybe not quite as well as I want it to be so I will get better!

Dec 17, 2020 09:47 AM #18
Rainmaker
110,807
Anna Chroscicki
Re/Max Masterpiece Realty - Port St Lucie, FL
Realtor - St. Lucie County affordable Real Estate

Same here...inventory very low...

Dec 17, 2020 09:53 AM #19
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Hello Anna Chroscicki and from what I see, I believe we will see a highly active 2021 as well. make it a great day!

Dec 17, 2020 09:59 AM #20
Rainmaker
330,814
Jerry Pinkas 843-839-9870 HOMEGUIDEMYRTLEBEACH.COM
Jerry Pinkas Real Estate Experts - Myrtle Beach, SC
Myrtle Beach Condos, Homes and Properties for Sale

Rocky, really like the addition of the Youtube market report update!

Dec 17, 2020 01:55 PM #21
Ambassador
4,202,529
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Rocky hopefully inventory will start to go up so sales can keep on increasing.

Dec 17, 2020 02:27 PM #22
Rainmaker
6,208,683
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Rocky, for sharing this report.

Have a productive December.

Dec 17, 2020 06:34 PM #23
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning and thank you Jerry Pinkas 843-839-9870 HOMEGUIDEMYRTLEBEACH.COM I pick up tips here and there from others in our AR community and decided to start that.

Dec 19, 2020 07:27 AM #24
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning George Souto yes we do expect more inventory so that appreciation may slow down to around 8% per year instead of 15%

Dec 19, 2020 07:28 AM #25
Rainmaker
271,166
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning and thank you Roy Kelley I am beginning new disciplines to improve my activity for 2021.

Dec 19, 2020 07:29 AM #26
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