The median list price of a Las Vegas home has dipped to $134,600 from the median list list price of $139,000 one month ago. Typically, the market slows in the latter months of the year, However, if we look at the graph pertaining to price we can see that the median price is as low as it has been in many years. During the boom years the median price was well above the $350,000 mark. As of now the Las Vegas median list price is 38% of what it was during the peak.
View the entire Las Vegas Home Report for January 3, 2011.
With a median list price of $134,600 this means that the average asking price per square foot of a Las Vegas home is currently at $74.00. The average days on the market to get the offer accepted is 162 days. 39% of the homes on the market are taking a price reduction to get showings and offers. 7% of the homes that are listed are getting relisted with their days on the market being reset. The median house size is 1801 square feet with 3 bedrooms and three baths. The yard size is between 4,501 – 6,500 square feet.
This report indicates that the days on the market to get an acceptable offer is climbing. The report also reveals a lower buyer demand. Again, this is very well due to the latter part of the season.
Contact an Experienced Las Vegas Realtor!
Bob and Jackie Simmons
The Realty One Group