Las Vegas Real Estate Report for July 2020 - A Return to Normalcy

Posted by Las Vegas Homes By Leslie on Tuesday, August 11th, 2020 at 1:02pm.

Real estate sold sign 

It makes a heart warm to see all those "plus signs" in our Las Vegas real estate reports for July 2020. This was a record month, especially for home sales. But what really gets me excited is that people are starting to resume their lives and getting back to a sense of normalcy. We're seeing old habits emerge such as relocating to a new home before kids start school. First time buyers have decided it's worth the risk to buy now and take advantage of the amazing interest rates. It's not a perfect world yet, but we're adapting.

Las Vegas Single-Family Home Sales for July 2020

Single-Family Home sales surpassed June by 38% with 2,205 Closed Sales. Median Sales Prices have risen almost 8% higher than July 2019. The demand is there, but inventory is still low, sitting at 2.2 months availability.

Single-Family Home Closed Sales
June: 1,596
July:  2,205 UP 38% from June and 3.3% from July 2019

Average Sales Price
June: $378,957
July:  $393,677 UP 3.8% from June and 6.5% from July 2019

Las Vegas Single Family Home Sales for July 2020

Current as of August 4, 2020. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2020 ShowingTime.

Search homes for sale in Las Vegas


Las Vegas Condo & Townhome Sales for July 2020

Condo sales in Las Vegas have increased 46% from June, now that buyers have come out of the woodwork. Sales are still down 9% from July 2019, but show healthy signs of a steady recovery. Median sales prices are up 10.8% and sellers are getting an average of 97.7% of their asking price. Available inventory sits at 3.2 months.

Townhouse/Condo Closed Sales
June: 343
July:  502

 

 UP over 46% from June 2020 and -9% from July 2019



Average Sales Price
June: 187,349
July : 189,632 UP 1.2% from June 2020 and 8.9% from July 2019

July 2020 condo sales report in Las Vegas, Nevada

Current as of August 4, 2020. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2020 ShowingTime.

Search condos for sale in Las Vegas


Interested in new builder home in Las Vegas? Check out our August 2020 report of the Latest New Construction Updates

Other popular Las Vegas real estate articles include:

Top Selling Neighborhoods During the 2020 COVID-19 Crisis

Top 55+ Retirement Communities in Las Vegas

Clark County Tax Rates for 2019/2020

 

By Leslie Hoke, Las Vegas Realtor®

Las Vegas Homes By Leslie
8010 W Sahara Ave #150, Las Vegas, NV 89117
Direct: (702) 321-1763 Fax: (702) 224-2146
www.LasVegasHomesByLeslie.com
Premier Realty Group

License #S.0062628


Get Las Vegas real estate tips & the latest news delivered right to your email


Leave a Comment