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Las Vegas Market Stats
The Las Vegas Valley Real Estate Market received showed several positive signs in September, with New Listings up 12% from the year before and Pending Sales (accepted contracts that have not yet closed) up over 20% from the same time last year.
The Average Sales Price for Single Family Homes also went back up as well to back over $600,000 after a one month dip that saw more lower priced homes selling. While the median and average sales prices have fluctuated the past few months, this is due to more lower priced homes selling as prices have continued to slowly rise for the whole year.
We also saw a rise in home affordability, with it being over 3% better this year despite prices being higher than the same time last year, this is due mostly to the interest rates coming down into the mid-5's. While the expectations are that rates will continue to lower, it's expected that it will be incremental and most experts expect the largest drops are behind us.
To find out how these numbers are affecting your future Real Estate plans please reach out to me for more information.
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