Las Vegas Housing Market Report February 13 2016

Las Vegas Housing Market Report February 13 2016

Las Vegas Housing Market Report February 13, 2016


Single Family Residence: The median price today for a SFR $228,500.00 up by 4% from last week at $220,000.00. The Average days on the market 40 days. According the MLS "Multiple Listing Service" there a total of 7,236 properties for sale, up by 1.4% from last weeks data. 87% of SFR are private sale, 10% short sales, and 3% bank owned properties. The total number of SFR sold last week was 313 properties, down by 33% from previous week. We has about 5.7 month supply on inventory. Single Family rentals are at 59% of market share, down by 2% from Previous week. 

Townhouse: The median price for a Townhouse today $143,900.00 down 9% from last week. The average days on the market for a townhouse is now 45 days. Total inventory on the MLS 585, up by 4.3% since last week. 86% private sale, 10 Short sales, and 4 bank owned properties. 36 townhouse sold last week, down 30% from previous week. Inventory at a 4 month supply. Only 6% accounts for townhouse on the market for rentals, down by 1% from previous week. 

Condos: Today median price for a condo $86,000.00 down 12% from last week data report with a average 39 days on the market. Total inventory on the MLS 1,101 up by 4.3% since last week. 89% private sales, 7% Short sales, and 4% are banks owned properties. The total number of condos sold last 52 units, down by 26% from previous week. Total inventory 5.2 month of supply. Condos that are listing for lease accounts for 25% market share, up 3% from previous week. Over All Market: Over all market includes SRP, Condos, Townhouse, Duplex, Triplex, Fourplex, and High-Rises. According to the MLS 9,807 active for sale, inventory up by 6.2% since last week. 87.80% are Private Sale, 8.77% are Short Sales, and 3.43% bank owned. There were 418 properties sold last week down by 30.7% from pervious week. We have a 5.8 month of supply. Financing Consideration: 99% of the homes for sale will accept cash, 94% conventional, 61% FHA, 57% VA, and 1% OWC. By: 

Chakits Krulsawat 2/13/2016



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Phone: 702-319-1092
Dated: February 14th 2016
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