Realty One Group - Shannon Smith Group

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February Update 2019

Hey my friends, 

As you already know, in Las Vegas we’re in a league of our own when it comes to just about everything, but in particular the housing market.

Prices are still rising despite the amount of homes sold are decreasing and the available inventory rising.

Compared to January 2018, January this year the amount of available listings rose nearly 50% while home prices rose 11.5%

Also compared to January 2018, January this year 20% less homes sold.

Another interesting stat is the average days on market rose from 20 days in January 2018 to 32 days in January 2019.

The bright side for buyer is that there are more options while for sellers prices aren’t dropping.

The market is changing.

 

As of today there are:

Single Family Homes 

7,317 Single family homes for sale

7,114 of those homes are “Regular Sellers”

104 are Short Sales,

100 are Bank Owned

2,914 Homes that have contingent or pending offers

8,022 Sold in the past 120 days.

 

The median home sale price for last month was $303,750 or $164.5 per square foot.

 

Condos & Townhomes

1,840 Condos & Town homes for sale

 1,783 of those properties are “Regular Sellers

 23 are Short Sales,

34
 are Bank Owned  

 703 Condos & Town homes have contingent or pending offers

2,077 Sold in the past 120 days.

 

The median Condo and Town home sale price last month was $170,000 or $151.4 per square foot. 


If you’d like an update on how much your home is worth, I’d be happy to send you a list of comparables along with a complete market analysis.

Have a great month, and please continue to refer your family and friends to me!!