LAS VEGAS HOUSING NUMBERS - December 2020

The median sales price for a home in Las Vegas for December 2020 is holding steady at $345,000.00. The median sales price of single-family homes in Las Vegas went up by 10.2% year-over-year and 0% month-over-month.

  • For the month of December 2020, the Las Vegas Real Estate Market Data shows 3,305 single-family houses sold. Up  8.9% from November of 2020 and up 26.7% from December 2019.

  • The median sales price of previously owned single-family homes held steady at $345,000 in December 2020, same as November 2020.  Up 0.0% from last month and up 10.2% from December 2019.

  • In December of 2020 2,405 new listings hit the market,  down 13% from November 2020, but up 20.3% from December 2019.

  • A total number of 3,240 single-family houses are available without offers at the end of December 2020. Down 13.7% from December and down even further by 41.5% from December 2019.

  • Inventory is only at 1.0 months. The housing supply in Southern Nevada is down 20.8% from November and down 53.8% from December 2019.

  • 66.9% of the closings for the month of December 2020 were on the market 30 days or less.

  • In November this number was at 68.8%. In December 201948.7% of the homes were on the market 30 days or less.

MOTIVATING FACTORS

There are a several factors behind our record breaking numbers which are pushing our trends higher. First, according to thestreet.com the high tax state movers who pay fortunes and are hoping to save more of their earnings; Second, the pandemic has allowed more people to work jobs remotely so the ability to relocate is at a all time high for many as shown here by mymove.com; Third, historically low interest rates for homeownership has gotten the attention of buyers, you can check daily interest rates here. This high demand for housing in Las Vegas exceeds the supply of available for homes for sale. Market supply and demand shift and fluctuate due to outside factors. Right now this high demand is pushing Las Vegas home values higher and higher, multiple offers are currently being received on most properties hitting the market.  Last but not least is an affordable housing market in comparison to many other states.

Whether you’re looking to buy or sell, timing your local market is an important part of real estate investing. The Las Vegas housing market is one of the hottest markets in the U.S.

LOOKING TO SELL?

For sellers, what a great time to sell! Inventory is low and motivated buyers are looking for houses for sale. Sellers don't have competition with as many property owners. Some would be sellers have decided to wait out the pandemic, but more and more buyers enter the market. This only further pushes the pricing point higher due to tight supply. Check your home's value here! or CONTACT ME HERE FOR MORE INFORMATION! 

LOOKING TO BUY?

For buyers, the inventory is slowly increasing and mortgage rates are at historic all time lows, record breaking never seen before lows. Buyers are out in force taking full advantage of their higher than usual purchasing power. It is a win-win scenario for both sellers and buyers. CONTACT ME HERE to get started!

The data is provided by Valerie M. Brown, Realtor in Las Vegas, WFG Title and from data produced by the Las Vegas REALTORS®.

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Latest Market Data, Trends, and Statistics

https://www.lasvegasrealtor.com

https://valleywestmortgage.com/valley-west-mortgage-rates-updated https://www.thestreet.com/personal-finance/taxes/moving-to-a-low-or-no-tax-state-can-save-you-a-small-fortune-13474250

https://www.ktnv.com/news/coronavirus-confirmed-cases-including-one-death