LAS VEGAS HOUSING NUMBERS

Scratch this one in the history books folks, the Las Vegas real estate market hit another all-time high. The median sales price of single-family homes in Las Vegas went up by 18.9% year-over-year.

  • For the month of September 2020, the Las Vegas Real Estate Market Data shows 3,270 single-family houses sold. Up 12.4%  from August of 2020 and up 18.9% from September 2019.

  • The median sales price of previously owned single-family homes increased to $337,250 in September.  Up .7% from last month and up 8.8% from 2019.

  • In September of 2020 3,851 new listings hit the market,  down .9% from August, but up 9.3% from 2019.

  • A total number of 4,798 single-family houses listed without offers at the end of September. Up 3.4% from August, but down 34.6% from 2019.

  • Inventory is only at 1.5 months. The housing supply in Southern Nevada is down 8% from August and down 45% from 2019.

  • 69% of the closings for the month of September were on the market 30 days or less.

  • In August this number was at 61.3%. In September 201953.9% of the homes were on the market 30 days or less.

APPRECIATION MAP

SEPTEMBER 2019 TO SEPTEMBER 2020 - COURTESY WFG NATIONAL TITLE



LAS VEGAS APPRECIATION MAP SEPTEMBER 2019 TO SEPTEMBER 2020


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 our Las Vegas home values higher. 

Whether you’re looking to buy or sell, timing your local market is an important part of real estate investment. 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. 

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.

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

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://national.wfgnationaltitle.com/