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Tuesday, June 16, 2015

May 2015 Las Vegas Real Estate | Local Market Report



The Las Vegas Real Estate Market for May, 2015

According to the new data released by the Greater Las Vegas Vegas Association of Realtors®, the Las Vegas real estate market market is steadily selling inventory, while also gaining more home buyers, following the same trends from previous months.

The Bottomline:
We have 6.5% less homes under contract than this time last year. But the same amount of homes are selling right now compared to the same time last year. Also, homes are staying on the market for a shorter period of time compared to this time last year. This is creating more of a sellers market and so I am going to bet that the prices go up a bit in the the month of June!

Let's take a look at the May 2015 real estate market numbers for Las Vegas:

May 2015 Las Vegas Real Estate Statistics

  • New Listings: 3,705 (Down -2.5% from last year)
  • Sold Listings: 2,752 (0% Change from last year)
  • Total Active Listings: 7,133 (Down +7.8% from last year)
  • Median Sales Price: $211,250 (Up +8.3% from last year)
  • Total Under Contract: 6,436 (Down -6.5% from last year)
  • List To Sold Price Ratio: 98.9% (Up +1.0% from last year)
  • Days on the Market: 58 Days (Down 11.3% from last year)

Home Prices Are Steadily Rising!

Homes are selling quickly in Las Vegas, and that has caused prices to go up compared to this time last yer. Home values are up by over 8.3% from this time last year. That's a DECENT increase! It's an excellent time to sell your home. If you've been thinking about selling your home, now's the time to get it listed before the busy summer real estate market hits. CLICK HERE to find out how much your Las Vegas home is worth and when you get a call from Danny Phee be sure to ask about our Listing specials this month.

These numbers cover all of Las Vegas, NV and the surrounding areas, including Summerlin, Mountain Edge, The Lakes, Southern Highlands, Enterprise, Coronado Ranch, Rhodes Ranch, Summerlin South, Desert Shores, Peccole Ranch, Panorama Towers (1&2), The Martin, Veer, Turnberry Towers, Turnberry Place, MGM Signature, Anthem, Henderson, Spanish Hills, Providence, Lake Las Vegas, MacDonald Ranch, The Ridges, and Spanish Trails areas.
If you have any specific questions about the market or if you need help buying and/or selling real estate in the Las Vegas area, let us know; we would love to hear from you.

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