Realty One Group - Shannon Smith Group

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May Newsletter

Hi,

It’s difficult to keep up with all of the happenings here in Las Vegas and all of the people moving to town! There were 96,618 driver’s license surrenders in 2022.

Most surrenders came from California ranked at number 1.

1. 40% of Surrenders came from California
2. Texas
3. Florida
4. Washington
5. Arizona

Professor Stephen Miller of the UNLV Center for Business and Economic Research has been tracking the trends for years.

“We’re back to the pre-Great Recession scenario. People are retiring in California, and they have a lot of their wealth tied up in equity. They sell their house, they move here, or to Salt Lake or to Phoenix. They buy a house maybe not be quite as grandiose as they had or is a reasonable facsimile their house in California. And they still have a lot of money left over,” Miller said.




Las Vegas Market Snap Shot
TOTAL PROPERTIES AVAILABLE
Single family:  3,503
Condo/ Town homes: 978
High Rise Units: 325
Multi-Family, 2-4 Units: 36
Manufactured Homes: 56
TOTAL PROPERTIES IN ESCROW
Single family:  2,671
Condo/ Town homes: 706
High Rise Units: 86
Multi-Family: 2-4 Units: 26

Manufactured Homes: 48
PPROPERTIES SOLD IN APRIL
Single family: 1,836
Condo/ Town homes: 509
High Rise Units: 72
Multi-Family, 2-4 Units: 15
Manufactured Homes: 24
MEDIAN SALES PRICE FOR APRIL
Single family: $430,000
Condo/ Town homes: $270,000
High Rise Units: $341,500
Multi-Family, 2-4 Units: $547,900

Manufactured Homes: $203,000
MEDIAN SOLD DOLLAR PER SQFT FOR APRIL
Single family: $235 per sqft
Condo/  Town homes: $226 per sqft
High Rise Units:  $471 per sqft
Multi-Family, 2-4 
$166 per sqft
Manufactured Homes: $13er sqft
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