Las Vegas Real Estate Stats & Why You Should Lock In Now!
The Las Vegas home and condo market was anything but dull this past October, showing solid gains over the same time last year. Here are some of the quick stats as reported from GLVAR (The Greater Las Vegas Association of Realtors).
Las Vegas Single Family Homes
Las Vegas Home sales in October were solid, just under 10% higher than 2015. Houses are moving quicker, only remaining on the market an average of 45 days, 21% faster than last year. The median sales price has also risen by 6.3%. Homes are priced realistically, receiving 98% of the asking price. The one area where we are challenged is inventory. In spite of the these positive increases, there are 28% less homes on the market
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For those of you following the progress of the proposed Raiders Stadium in Las Vegas, it looks like it's almost a done deal. After a week of deliberation, Nevada Senate passed a deal that could clear the way.
The local report from the Greater Las Vegas Association of Realtors show Las Vegas property prices and sales for residential real estate in southern Nevada remained steady. That’s more good news for both sellers and buyers as activity continues to be brisk during the typical busy summer months.
In the past few years the Las Vegas Real Estate market has garnered a lot of media attention of the unwanted variety. But in a complete 180-degree turnaround, Fox News will be debuting a new Las Vegas real estate show titled “Bob Massi is the Property Man.”
In my last blog "Las Vegas Housing Market Surges Forward", I discussed the huge sales increase in the local market and how I hoped it was the start of a trend, rather than a one-time occurrence. The newly released data from the Greater Las Vegas Association of Realtors show that despite the major increase in March, even more homes were sold in April. While two months does not a trend make, it looks like the increase we saw in March wasn’t just a one-time outlier.
More good news for the Las Vegas housing market. Stability and low prices have been the theme for months, which is a welcomed sight after some turbulent times. For March, the Greater Las Vegas Association of Realtors (GLVAR) reported the median price of single family was $205,000, unchanged from February, but an increase of 5% from 12 months ago. The condominium and townhome market experienced a significant uptick coming in at $115,000, representing a 9.5% increase from last month and a 14% increase from one year ago.
While obtaining a college degree is more important than ever, skyrocketing tuition costs and obscene levels of student loan debt are making many people question the benefits of a college degree given the amount of money it costs. But this is not a blog about the pros and cons of getting a college degree. I recently came upon an article on Movoto.com that ranked three southern Nevada cities in the top ten places to live without a college degree. The cities, along with their corresponding rankings included:
