Tagged : Las Vegas real estate trends

March Sales Shows Signs of Recovery Amid Rising Prices

Las Vegas real estate sales in March 2022 showed definite signs of recovery after a slow start in January. Although real estate prices rose an average of 23% in March 2022, buyers remained steadfast. Las Vegas homes and condos virtually flew off the shelf, remaining on the market an average of 21 days. Sellers received an average of 101.1% of their asking price. A shortage of inventory is keeping overall sales from climbing, as folks are demonstrating reluctance when it comes to listing their homes.

Las Vegas Single-Family Home Sales: March 2022

March 2022 Single-family home sales in the Las Vegas area are down -12.6 from March 2021. While the demand remains high, lower sales

Get caught up on what's new and happening in the Las Vegas real estate market this June. 

Cash Home Sales on the Rise

It seems that cash speaks the loudest when it comes to buying Las Vegas Real estate this year. In May 2021, 31% of sold homes were purchased with cash, an increase of 15% from May 2020. Cash offers are often preferred by sellers over a buyer using financing. Sadly, this practice is putting a strain on new and middle-class home buyers who may have pre-approved loans and are ready to purchase. A good percentage of the cash buyers are coming from out of state, especially California.

As reported in the Las Vegas Sun: Cash Further Squeezes an Already Tight Southern Nevada Housing Market

Resort World Las Vegas Opens Its Doors

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

What Neighborhoods are Selling in Las Vegas & How Much

These may be some of the hardest times the Las Vegas real estate market has seen in decades, but contrary to popular belief, the market during the COVID-19 crisis has not ground to a halt. Folks still have homes to sell, and according to the stats from the last 60 days (late March to May/20), people are still buying those homes.

These are unusual times, for certain, but the industry has adapted. Now, we rely on technology more than ever to advertise Las Vegas homes for sale and provide virtual or private tours in place of open houses. Even the new construction industry is featuring virtual tours of their model homes.

Quick Stats for Las Vegas Home Sales - March-May/2020

Highest Selling

The Las Vegas real estate market ended on a high note in 2019. We had a high percentage of pending sales in both single-family and condos with similarly high increases in closed sales. We're still seeing a reluctance to list, with under 3 months of inventory. Which is surprising, with sellers getting an average of 98.4% of their asking price and homes remaining on the market for just over a month.

Las Vegas Single Family Home Sales Highlights

Current as of January 3, 2020. All data from Greater Las Vegas Association of REALTORS® MLS. Report © 2020 ShowingTime.

After a slightly sluggish year in 2019, the market for single-family homes in Las Vegas started to make a nice comeback. In December closed sales were up 16%, pending sales up 33.9%