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Today, I want to bring you a look back at this year’s third quarter real estate statistics. As we head into the end of the year, it’s time for an update.
We still have a very strong seller’s market here in Las Vegas. Currently, we have about 1.8 months of supply.
Any market with six months of supply or more is a buyer’s market, while anything less than six months is a seller’s market.
With less than two months of supply, sellers are definitely in control at the moment.
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Sellers are definitely in control at the moment.
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Since last September, values have increased over 10%. This is great for sellers in our market.
Closings have also increased by about 5%. Also, our average sales price is $309,000. Our median sales price is $265,000.
Most homes beneath the $300,000 price point are selling very quickly and are receiving multiple offers.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
