New Insights & Latest Trends ?
Greetings, Las Vegas real estate enthusiasts! As always, I’m bringing you the freshest updates and insights into the single-family home market in the Las Vegas Valley. Please share this information with anyone who might find it helpful. Remember, an informed decision is the best decision.
Let’s compare the most recent April 10th, 2023, Las Vegas housing market data with last week’s statistics.
Under Contract ?️
- UCS/UCNS (Under Contract): 2,496
- SS (Short Sales): 27
Other Data:
- Percentage of homes sold under 30 days: 49.6%
- Percentage of homes sold 31-60 days: 16.1%
- Percentage of homes sold 61-90 days: 10%
- Median home price: $425,000
- Number of price reductions: 469
Today We Take A Look At The Latest Las Vegas Real Estate Market
Newest Stats for This Week ?
- ER (Active Listings): 4,087
- SS (Short Sales): 11 (.22%)
- REO (Real Estate Owned): 28 (.61%)
- TRAD (Traditional Sales): 4,048 (99.2%)
- UCS/UCNS (Under Contract): 2,583
- SS (Short Sales): 28 (.73%)
- REO (Real Estate Owned): 23 (.30%)
- TRAD (Traditional Sales): 2,532 (.99%)
Other Data:
- Percentage of Las Vegas homes sold under 30 days: 49.6%
- Percentage of homes sold 31-60 days: 16.1%
- Percentage of homes sold 61-90 days: 10%
- Median home price: $425,000
- Number of price reductions: 469
Mortgage Pulse ?
Conforming: 5.99%
FHA: 5.5%
VA: 5.375%
Jumbo: 6.125%
Market Trends and Insights ?
Comparing the newest stats with last week’s data, we can observe a slight decrease in ER (from 4,202 to 4,087), while other market trends, such as mortgage rates, remain constant. The percentage of homes sold in various time frames has also remained consistent.
The median home price remains at $425,000, and the number of price reductions is still 469. The Las Vegas housing market is holding steady.
Expert Recommendations ?
Comparing the data from the past two weeks, the Las Vegas real estate market seems stable, with no significant fluctuations. As always, it’s essential to remember that real estate is a long-term investment. Avoid falling for market crash predictions and hype, and focus on making well-informed decisions backed by data and insights.
A Trip Down Memory Lane: Comparing Today’s Market with October, 2022 ?
Let’s take a peek at how LV housing market has changed since last year (Oct. 2022):
Active residential listings: 8,119
Traditional: 8,067 (99.2%)
REOs: 45 (.61%)
Short sales: 27 (.22%)
Residential properties under contract: 2,054
Traditional: 2,030 (99%)
REOs: 7 (.30%)
Short sales: 17 (.73%)
Percentage Of Homes Sold Under: ?
- 30 days: 56.8%
- 31-60 days: 28.4%
- 61-90 days: 9%
- Median home price: $450,000
Changes In The Market ?
Looking at the numbers from Oct., we can see some exciting changes in the Las Vegas housing market:
- A significant drop in active residential listings, from 8,119 in October 2022 to 4,087 in April 2023.
- The median home price decreased, going from $450,000 in October 2022 to $425,000 in April 2023.
- The percentage of homes sold under 30 days has dropped slightly, from 56.8% in October 2022 to 49.6% in April 2023.
Lynn’s Insights ?♀️
Seeing how the market has evolved in just six months is fascinating! The most notable change is the sharp decrease in active residential listings, indicating a tighter market. Despite the drop in median home price, it’s essential to remember that real estate is a long-term investment. Keep an eye on market trends, stay informed, and trust the data!
In Closing ?
Thank you for reading this week’s housing market update. Stay informed here on my Las Vegas real estate blog. And please share this information with friends and family who might find it helpful. Real estate investment success relies on data-driven insights and well-informed decision-making. Thank you for your time.