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:
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