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!"