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Summerlin Housing Market Information

Peccole Ranch Summerlin Rocky Dickerson
Las Vegas Market Report January 2021 The Vas Vegas Market Report for December 2020 is in and the report is amazing. For the second month in a row, the median sales price for single family home sin Las Vegas is at the all time high of $345,000. This is an increase of over 10% from December of 2019.

Even with the holiday season, the demand from buyers has been quite strong in Las Vegas and at the current rate, if no more homes went on the market, Las Vegas would have no more homes left in just 1 month. Less than half the availability of a year ago.

With 3,305 closings in December, Las Vegas closings were up 26% from December 2019. With only 3,240 homes for sale in Las Vegas, currently over 66% of houses on the market sell in less than 30 days. This strong market shows no immediate signs of slowing down despite the pandemic.

In fact, with so many forced to work from home Californians are finding they can sell a below average home for $600,000 in California and buy a $500,000 above average home in Las Vegas. At the same time, they eliminate paying state sales tax. Therefore, buyer demand from California is strong in Las Vegas.

Condominiums and townhouses are an excellent bargain in Las Vegas at a median sales price of $186,000. Some buyers are moving out of 1 bedroom apartments they were renting for $1200 per month and buying a 2 bedroom condo and pay only $1100 per month. (Even less if they rent out the second bedroom).

With Las Vegas condominiums having about 45 days of availability and 57% of those selling in under 30 days, the time is right to sell or buy real estate in Las Vegas.

This is just the snapshot for the last month in Las Vegas. To get more information on the value of your home, CLICK HERE or call Rocky Dickerson at (702) 743-7625.

Las Vegas Market Report December 2020

Our outside temperatures may be cooling down in Las Vegas, still our real estate marketplace is hotter than ever. Especially for singles family homes in Las Vegas. Let’s take a closer look at the Las Vegas real estate marketplace in November and pick apart the numbers.

At the end of November, the greater Las Vegas area had 8,417 houses available on the market. That is down 10.7% from the month before and down 19.1% from November of the previous year. With Condos and townhouses, we only had 2,341 available and that was down 9.0% from the month before and down 10.8% from the previous November. Some attribute this to the influx of folks leaving the high taxes and cost of living in California since more companies allow their workers to work from home.

In November there were 2,766 new listi8ng of houses that became available in Las Vegas and 672 new condominiums and townhouses that became available.

But of course, what every owner wants to know is what happened with sales and with prices.  Well, that is good news.  In November there were 3,035 houses sold in Las Vegas and there were 726 condominiums and townhouses sold. For houses that is an increase of 26.1% from the previous November. For condominiums and townhouses that was an increase of 34.7% from the previous November.

The best news of all? For the 6th month in a row, the Las Vegas area set a record high for median sales prices of single-family homes at $345,000. Median sales prices of condominiums and townhouses also went up to $199,700.

This is just the snapshot for the last month in Las Vegas. To get more information on the value of your home, CLICK HERE or call Rocky Dickerson at (702) 743-7625.

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