The Latest Data
Believe it or not, it’s been about a year since the housing market began correcting across the United States. And it was about one year ago that I started covering stats and data here on LUXE BLOG. Yes, as a real estate pro my job is to know data. No, I don’t feel data is the BEST blog content. However, since many like it, I began posting it. And I am glad I did. I was looking back to this past Las Vegas real estate market update that I did in mid October, 2022.
45% Decrease In Active SFR Listings
What I found by looking back at my past update (link above), is that there was 8,159 active single family homes listed for sale in the Las Vegas valley. Meaning 5 months ago. Being this is mid-March 2023, I did a little math. As of the week of March 20th, 2023, there are 4,449 single family homes for sale in the greater Las Vegas area. That is a 45.44% reduction in available inventory. And I feel that is worthy of pointing out.
Other Real Estate Data
Out of the 4,449 active SFR listings in the LVV, 99.2% of them are traditional sales (4,405). 11 are short sales and 33 are bank owned. The median home price sits at about $424,995. Additionally, there have been 626 price reductions since last week. There are currently 2,569 properties under contract. Out of the 2,569 properties, 2,517 were sold traditionally, while 28 were short sales and 24 were bank owned.
I Hope You Enjoyed The Latest Data
While I never hype the market, as you can see, things are headed back into a more stable direction. It is my passion to empower and inform my readers and clients. I don’t do this for the money, I do it because I want to help and make a difference. This is why I continue to publish data and analysis to LUXE BLOG. I hope you find it helpful. And if you do, please share it with those that matter to you. Together we can continue on the path of stable growth!
Thanks for reading. Until next time <3 Lynn