According to the GLVAR, home prices in the Las Vegas Valley are more stable, and this can be positive for both buyers and sellers alike.
Median home prices for July, August and September were $220,000, but up over 8% from a year ago when they were just above $202,500. The median price for condominiums and townhomes came in at $119,000, up a whooping 14% from the same time last year.
3,285 homes were sold during September 2015, up from 2,982 from September 2014. The market is on pace to sell more homes in 2015 than were sold in 2014.
For more than 2 years, there are less distressed homes available. In September, only 6.8% of sales were short sales and 7.1% were foreclosed homes sales. Traditional home sales are dominating the market once again.
Las Vegas has a steady supply of home available; about 8,100 single family homes and 2,300 condo and townhomes. The numbers are only down about 4.3% from this time last year.
Investors are still active in the market, however, that interest is subsiding some as prices have stabilized and less short sale or bank owned properties are available. This is making it easier for families or the traditional buyer to purchase a home, as they are not competing with investors who often have all cash offers.
Roughly 65% of all homes on the market are selling within 60 days. This number remains consistent from a year ago.
Please call me at 702.908.7009 if you would like more information on the Las Vegas Real Estate market. I'd love to help you or your family and friends buy or sell your next home!
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
Before you make any decision to Buy, Sell or Invest in Real Estate, be learning based and discover all the benefits, strategies and techniques Rick and Teri Brenkus offer to their clients..... You will be glad you did!!! 702-456-5959