Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

August 2017 Las Vegas Market Report -- Important Stats and Trends

Posted by Mastura Zaini-Roberts on Wednesday, August 16th, 2017 at 8:39am.

 

Through July 2017, the Southern Nevada resale housing market continued to trend in a positive direction.


 

Prices edged up further (+10.2 percent), closing volumes jumped from the prior year (+10.8 percent) and effective availability remained limited (1.8 months).

 

 

The overall condominium/townhouse segment posted similar results with closings up 7.5 percent, median prices rising 20.0 percent and inventory reaching 1.1 months.

Importantly, foreclosure activity remains at a post-recession low with the number of notices of default, notices of trustee sale and trustee deeds falling substantially during the past couple of months. Improving economic and housing fundamentals are contributing to reduced foreclosure activity.

 

 

Information courtesy of SalesTraq

https://salestraq.com/resale_report/2017_07.pdf

 

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

September 2017 Residential Resale and Foreclosure Report

Single family median prices reached a new high of $265,000 in Southern Nevada during September 2017. The latest price point reflects annual appreciation of 13.5 percent. Single family closings totaled 2,920 during the month, which was flat with last year, and effective availability stood at 1.9 months (down 27.0 perce...

Everything buyers need to know about new builds

Buying a newly constructed home involves managing a big project that needs a Realtor's help Key Takeaways: Buying a new home is not a slam dunk; there is a process to manage and a myriad of details to oversee. It is important for a buyer to understand both their and the builder's obligations in the process. Wh...

8 things buyers should forget about in a hot market

Why CMAs, appraisals and listing prices aren't always important   Key Takeaways Many buyers mistakenly listen to the advice of friends and family before consulting an agent. A home is always worth what the highest bidder is willing to pay. With an extreme shortage of housing inventory plaguing many...

Why it sucks to be a millennial homebuyer (and what agents can do)

Zillow Group report details affordability struggles as real estate demand overwhelms supply Key Takeaways Inventory absorption and home prices are rising so fast that homebuyers -- particularly millennials -- are going over budget and turning to friends and relatives for down-payment help. Buye...

Beware Homeowners - Judicial Foreclosures Come to Las Vegas!

Nevada has always been a non-judicial foreclosure state.  If a borrower was past due, all the mortgage holder had to do was produce copies of the appropriate documents and file foreclosure notices, and within approximately 5 months the foreclosure sale took place at the county steps. There was no right of redemption f...

Leave a Comment

Have a Question?

Contact Us

Follow Us