Overall availability in the Southern Nevada resale housing market continued to tighten through November 2017, which contributed to rising prices.
The single family market posted 1.8 months of effective inventory, while the condo/townhouse segment reported 1.3 months.
Median single family pricing reached $261,500 during the month (+9.0 percent from a year ago), while condo/townhouse prices appreciated 19.9 percent on the year to a new high of $141,500.
The number of trustee deeds (foreclosures) spiked in November largely due to regulatory adjustments.
As 2017 comes to a close, the expectation heading into early-2018 would suggest current trends will prevail as economic and housing fundamentals remain stable.
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
The responsibility of owning a home can be intimidating for people who’ve only rented in the past, but new data from Zillow suggests renting can actually cost more. Zillow’s analysis found out that sans increasing monthly housing costs, a typical renter can buy a home almost 50% more expensive than the med...
As of April 26th, only 4,594 single family homes remain listed in the Las Vegas MLS as active (not under contract) in Clark County. Our inventory is continuing to shrink as few, if any, bank foreclosures are reaching the market due to the restrictions of AB 284. The sale of lower priced housing, in particular, is re...
Save Your Cash for Christmas! Been looking at homes for sale in Las Vegas, but just don't have any extra cash? If you or someone you know has been struggling to come up with the down payment and closing costs for a mortgage, we have great news. There is a new 1/2% down FHA loan that may be your answer. You coul...
But some markets have yet to fully recover from the crisis The U.S. housing market has gained back all $9 trillion in value lost during the 2007 recession, according to a recent Zillow report. Furthermore, the average U.S. home is now worth $55,200 more than it was at the bottom of the housing bust. Zillow...