The quick home sales we're seeing in the Las Vegas market continue to set records. In the last three months, we've seen Average Las Vegas Home Prices soar by 17.9%, yet listings are only remaining on the market an average of 25 days. So, the buyers are there, waiting with open wallets, even as home prices continue to rise. Interest rates remain favorable and we're seeing more and more buyers from out of state. Closed Sales, however are down almost 2%, mainly due to a shortage of inventory. Currently real estate for sale in Las Vegas is sitting at about one month supply.
I'm happy to congratulate these new buyers and sellers who recently took the plunge, and are happily settling into their new homes.
