Today’s home buyers have 6,560 single family homes to choose from. Condos and town homes add 1,809 options. Total homes available is 8,369. That
Las Vegas Housing Market Update January - February 2020
Dated: February 29 2020
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Today’s home buyers have 6,560 single family homes to choose from. Condos and town homes add 1,809 options. Total homes available is 8,369. That’s a drop from 8,751 last month and 10,279 the month before. That’s a drop of 5% from January and 21% from November.
We sold 2,292 single family homes in January. Condos and town homes added 591 closings for the month. A total of 2,883 homes changed hands. That’s down from 3,225 in December, 10% lower. The market did show a gain of 21% year over year from January 2019 to January 2020 sales.
The median home price rounded out at $310,000.
Supply of Homes For Sale - We've sold an average of 3318 homes per month for the past year. At that pace, today’s 8,369 homes would be gone in 2.5 months. Inventory this low is an indicator that we still have a seller’s market. Most experts predict interest rates will remain low this year. With low interest rates, low un-employment, it’s likely to favor sellers for awhile.
Everett Pope
Like so many of Californians, I made the trek to Las Vegas in 2003, never knowing it would be my home 16 years the latter. Growing up in "The Bay Area", and eventually moving out to the Central Valle....
The data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site-owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 