Realty One Group - Shannon Smith Group

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January Update

Hi Friends,

I know I’m a little late but I’ll say it anyway….HAPPPPPY NEW YEAR!!!
2017 was one of the biggest years on record for Las Vegas Real Estate and the same is coming for 2018.

Las Vegas isn’t just in the top 10 of the projected hottest markets in 2018, WE ARE NUMBER 1 according to HousingWire.com!!!

To determine its predictions for the best real estate markets of 2018, realtor.com’s economic data team looked at the number of sales of existing homes and their prices, along with the amount of new home construction in the 100 largest markets.

Realtor.com also analyzed the local economies of each area, along with population trends, unemployment rates, median household incomes and other factors.

Take a look at our 2017 numbers:

Single Family Homes

Homes Sold:

2016 – – 31,848 2017 – – 33,735

Amount of homes sold up 5.6%

Median Sales Price December

2016 – – $235,000 2017 – – $270,480

Year over year prices rose 13.1%

Sold Bank Owned Properties:

2016 – – 2,019 2017 – – 1,137

Down 43.7%

Sold Short Sale:

2016 – – 1,679 2017 – – 1,229

Down 27%

Sold Traditional Sales:

2016 – – 28,150 2017 – – 31,369

Up 10.26%

2,641 Homes that have contingent or pending offers

The median home sale price for December was $270,480 or $148 per square foot.

Condos & Townhomes

Total Sold:

2016 – – 7,267 2017 – – 7,744

Up 6.15%

Median Sales Price December

2016 – – $112,000 2017 – – $145,000

Up 22.76%

Sold Bank Owned Properties:

2016 – – 513 2017 – – 244

Down 13.5%

Sold Short Sale:

2016 – – 318 2017 – -235

Down 52.4%

Sold Traditional Sales:

2016 – – 6,436 2017 – – 7,265

Up 11.4%

612 Condos or Town-homes have contingent or pending offers

The median Condo and Town home sale price last month was $145,000 or $128 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!!