Here’s what’s happening in the Southwest Las Vegas Real Estate Market. We’ve taken the time to provide home sales and inventory reports for each the Southwest area. If you are looking to buy or sell a house in Southwest Las Vegas, Contact us.

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Active Listing Volume

MonthActive Listings, $ Volume
Jan$1,323,957,372
Feb$1,333,815,611
Mar$1,340,247,110
MonthActive Listings, Number of
Jan3,153
Feb2,984
Mar2,769

Cheapest Southwest Homes


Close Price to List Ratio

It’s still a Seller’s market folks!

Limited inventory means a home priced right can sell for full price, and sometimes more. The southwest is very popular and is experience┬áexplosive growth. For sellers, this is great news. For buyers, it’s going to make finding a property more challenging.

MonthClose Price to Original Price Ratio
Jan99.7%
Feb100.0%
Mar100.0%
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Median Days to Sell

In Southwest Las Vegas, the time on market for a property has shortened every month this year so far. Houses are selling quickly here, especially in the lower price ranges. Dismissing the highest days on market and the lowest days on market for a single property, we have created median days on market.
MonthDays to Sell, Median
Jan24
Feb20
Mar14

Expired Listings

How does a listing expire in a limited inventory market?

Many reasons. One could be that there is still a lot of competition in that particular neighborhood and other houses show better or carry a more attractive price tag.

Homes that are lived in by tenants, or hard to show also see none to little offers because they can’t get in. A home that is outdated has strong odors (such as pets or smoke), or is heavily personalized or cluttered might still suffer in a limited inventory market.

Price is generally the largest factor.

MonthExpired Listings, Number of
Jan1,654
Feb1,541
Mar1,750

List Price to Square Foot Ratio

Prices in the Southwest are still Increasing

MonthList Price by SqFt Ratio
Jan$93
Feb$107
Mar$113
Map of Las Vegas with homes pinned with prices in the Southwest Area

Median List Price

Removing the highest priced home in SW Las Vegas and the lowest price, including single family, condos, and townhomes, we arrive at the median list price for the area.

MonthList Price, Median
Jan$285,000
Feb$290,000
Mar$295,000

Months of Inventory

An obvious indicator that this area of Las Vegas is still favoring sellers.

Jan2
Feb2
Mar2

Number of New Listings

In Southwest Las Vegas, the time on market for a property has shortened every month this year so far. Houses are selling quickly here, especially in the lower price ranges. Dismissing the highest days on market and the lowest days on market for a single property, we have created median days on market.
MonthNumber of New Listings
Jan1,800
Feb1,633
Mar1,972

Median Sales Price

Including condos, townhomes, and single family residences, and excluding the highest and lowest sale, here is the median sales price for real estate in the Southwest.

MonthSale Price, Median
Jan$267,000
Feb$268,000
Mar$280,000

Total Home Sales

MonthSales, Number of
Jan1,273
Feb1,333
Mar1,678

SW Zip Codes

Summary
Article Name
Southwest Las Vegas Real Estate Market Report 2018
Description
Here's what's happening in the Southwest Las Vegas Real Estate Market. We've taken the time to provide home sales and inventory reports for each the Southwest area. If you are looking to buy or sell a house in Southwest Las Vegas, Contact Lori Ballen Team Las Vegas Real Estate Agents.
Author
Publisher Name
BallenVegas.com
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