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!!