Las Vegas - Key Market Stats for August 2016

Las Vegas Sales Climb from 2015

Total home and condo sales and median prices were up from August of 2015.

• Total  Las Vegas Home Sales $835,260,015 - up 11.6%
• Total Las Vegas Condo Sales: $86,139,841 - up 15%
• Median Home Price: $235,000 - up 6.8% from August 2015
• Median Condo Price: $115,000 - up 4.5% from August 2015

Inventory

The number of Homes, Condos & Townhomes Sold: 3,789 homes, condos & townhomes - in August 2015 3,454

Although sold inventory increased by 10%, we still need homes. There is less than a three-month supply of properties for sale, a six month supply reflects a balanced market. the number of single family homes listed in August was 13,222 - a decline of 2.8% from the same time last year. The big decrease was in listings for condos and townhomes, which were down 31.6% from 2015.

Average # of Days on Market

The market was active for both property types with 59% of homes and 56% of condos selling in 30 days or less. 17% of homes and 19% of condos sold in under 2 months.