Las Vegas real estate housing market for homes has appreciated by 2% so far in 2016
In the past couple of years, the median sales price for Las Vegas homes for sale has gone up by about 10%. However, price gains are not uniform. February sees a modest price gain and then the prices shoot up in May-July and stay flat for the remainder of the year.
In this video, we will discuss increasing sales activity for Las Vegas homes while the inventory remains lower than the past year. We will also talk about the increasing median sales prices and the decreasing effect of foreclosures and short sales on Las Vegas real estate market for single-family homes.
The inventory of homes listings in Las Vegas MLS that are not under contract has dropped to 2.6 months; we discuss how it is affecting the market and when we expect further price gains.
If you don’t like videos please see video transcript of Las Vegas real estate market April 2016 here
We expect additional price hikes this summer and 6% or higher median sales price appreciation for 2016.
Please find the graphs and charts that we used in Las Vegas real estate housing market-homes April 2016 below
GLVAR’S Median sales price versus our calculated median sales price (in thousands), the number of Greater Las Vegas single-family homes sold, plus percentage sales price over asking price and median time on the market until sold.
GLVAR’S Median sales price versus our calculated median sales price (in thousands), number of Greater Las Vegas single-family homes sold, plus percentage sales price over asking price and median time on the market until sold.