🏠 Las Vegas Real Estate Market Report – This Month 2018

Enjoy this Las Vegas Real Estate Market Report for North Las Vegas, Henderson, Las Vegas and Clark County. You can also do a home search and save your favorite properties. Set up a search and be alerted as soon as a matching property hits our database. It’s Exclusive. 

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Nevada Real Estate News – The Raiders Effect on Las Vegas Real Estate

What is the Average Price Range in Las Vegas?

Including only Single Family Homes, August 2018 ended with a Las Vegas Average Price Range of $330,336. We are using the average here instead of the median where the highest price and lowest price homes are removed. Compare the average prices month-over-month for this year.

Las Vegas Housing Market Predictions 2018

Here’s a look at the Las Vegas Real Estate Market for September 2018. According to a report released on September 7th by the Greater Las Vegas Association of REALTORS® (GLVAR), the current low inventory numbers should improve as we move into the end of the year and beginning of next year. Let’s take a closer look at the Las Vegas market trends.

From August of 2017 to August of 2018, the median price range for homes in Las Vegas went up by 13.5 percent.

September began with a total of 3,881 condominiums, townhomes, and single family homes sold. This number shows a drop from the 3,955 last month. The median price range of houses that sold in Las Vegas during the month of August was $295,000, which is the same price that was recorded for May of this year. This amount shows an increase of 1.7 percent from last month and 13.5 percent from August 2017. Read More Here!

Existing Home Sales for August 2018

Average Time on Market for Las Vegas Listings

At the end of August 2018, the average days on market in Las Vegas for houses was 29 days and for condominiums was 25 days. See the chart below to see how this month compares to the last couple of years.

Active Number of Listings in Las Vegas for the past 5 years.

At the beginning of September 2018, Las Vegas shows 5,818 homes on the market.

Average List to Close Price

At the beginning of September 2018, the average list to close price was 99.2% for houses and 99.1% for condos. These numbers indicate a strong seller’s market.

Real Estate Statistics

Statistics are gathered from the July 2018 National Association of REALTORS® (NAR) Confidence Report. These statistics are gathered through surveys provided by 50,000 real estate agents and brokers.

• 1st time home buyers accounted for 32 percent of sales
• 13% of the sales were vacation and investment buyers
• Only 3% of the sales were distressed (short sales, foreclosures)
• 20% of the real estate sold was purchased with cash
• 18% of sellers made contributions to the buyers closing costs
• Biggest Challenges the market is facing: low inventory, interest rates

Clark County Average Price Range

The average price range single-family sales in Clark County, NV was $353,467 at the end of August 2018

North Las Vegas Housing Market

The average price range single-family sales in North Las Vegas was $277,418 at the end of August 2018

Henderson Market Values

Henderson closed out with the highest average price range of $405,524.

Vegas Housing Market Reports from 2018

Market Reports from 2017

Market Reports from 2016

Year-to-Year Comparison of Months Supply of Inventory

Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.

Summary

Article Name

Las Vegas Real Estate Market Report - This Month 2018

Description

At the end of the month, there were 5,818 single-family homes on the market in Las Vegas. Read More about what's happening in the Las Vegas Real Estate Market here.

Author

Lori Ballen

Publisher Name

Ballen Network at Keller Williams Realty

Publisher Logo