Las Vegas Real Estate Housing Report February 23 2016

Las Vegas Real Estate Housing Report February 23 2016

Las Vegas Real Estate Housing Report February 22, 2016

The current over all inventory according to the Multiple Listing Services including Single Family Residence, Townhouse, Condo's, Mobile homes, Duplex, triplex, and fourplex. We have a total of 9,780 homes down by 1% from previous week. Private sales 8,922 - 87.75% of market share, Short Sale 865 - 8.84% of market share, and Bank Owned Properties 323 - 3.30% of market share. The number of home sold last week was 420 homes. We have a 6 month supply of inventory. 

The median price for a Single Family Residence at this time $225,000.00 for a 3 bedroom, 1,811 qfst of living space with an average 41 days on the market. 

The median price for a condo closed at $87,500.00 for a 2 bedroom, 1,047 aft living, with a average of 30 days on the market. The median for a townhouse $147,500.00 for a 2 bedroom, 1,375 living, with a average of 18 days on the market.  Last week homes that sold, 31% cash buyers, 28% conventional buyers, 21% FHA buyers, 19% VA buyers. 

Rental Market:

According to the MLS there are a total of 2,631 rentals available for rent down by 6% from pervious week. A few months ago there were 3,500. The number of rental are moving fast which will increase the rent price here in the near future.

For a Listing of Auction Properties call 702-319-1092

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Phone: 702-319-1092
Dated: February 22nd 2016
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