Thursday, November 9, 2017 / by Geoffrey Zahler
Wanted to give some updates and insights into the Las Vegas Real Estate market as we head into the last 60 days or so of the year.
Yes, we're now less than 10 weeks until we ring in 2018, and it's been another very strong year for the Las Vegas Real Estate Market. Zip Code by Zip Code, area by area, have seen price improvements all year, and at least right now, we do not anticipate any slow downs into 2018. What we ARE NOT seeing (which is a good thing) is this double digit, annualize gains, like we had seen when we came off the lows in 2009-2010. A more sustainable growth rate is better for our long term market stability.
The Median Sales Price for Single Family homes in the Greater Las Vegas area is up to $251,000, up from $228,000 this time last year, which is an increase of just about 10%. If you take ALL properties into consideration (condos, and townhomes as well), the Median price is $231,000, which is 11% higher than same time in 2016, r ...