Las Vegas Luxury Home Source December 2017 Market Statistics

Las Vegas Luxury Home Source December 2017 Market Statistics

Rising home prices and low inventory are the driving factors of what Las Vegas is calling one of their best years yet for the housing market. December closed out the year with only 7,508 homes on the market. This was down 13.9% from November and down 26.6% from December 2016. This low inventory drove the average list price to $476,261, up by 20.5% from December 2016.

The condo and townhouse market also experienced low inventory and increased prices. They rounded out the year with only 1,451 units available. This was down 11.5% from November, and down 19.5% from December 2016. The average list price rose to $175,772. This was up 3% from November and 23.7% from December 2016.

Not surprisingly, properties are not spending much time on the market. 61.2% of homes listed had offers within 30 days. That is up 9.7% from December of 2016. The condo market saw even faster movement with 71.3% of units on the market for less than 30 days. This is up 14.5% from December 2016.

December closed out the year with a total of $912,447,223 in combined sales. Have you been thinking about selling your home? Contact us to find out what your home is worth.
Call or Text: 702-720-5850
img

Luxury Home Source

    Related posts

    Las Vegas Housing Market Statistics June 2018

    As summer blazes on here in Las Vegas, so does the real estate market. As reported by the Greater...

    Continue reading
    Luxury Home Source
    by Luxury Home Source

    Gauge Long-Term Health of a Real Estate Market

    As a Realtor, the number one question I am asked is "how's the market?" There are many factors that...

    Continue reading
    Luxury Home Source
    by Luxury Home Source

    Las Vegas Housing Market Statistics May 2018

    As we approach summer here in Las Vegas, the housing market continues to see record high prices....

    Continue reading
    Luxury Home Source
    by Luxury Home Source