View the complete Las Vegas Homes Report for January 24, 2011 to learn about Las Vegas market trends.
Las Vegas home prices:
The current median list price of a home for sale in Las Vegas is $130,750. At this time, the inventory of homes is lowering while the days on the market are increasing. According to this report, it is likely that there will be a downward pressure on pricing in the Vegas housing market if the inventory grows relative to the demand.
Houses in Las Vegas now have a median asking price of $73 per square foot and the average days on the market is 161. The median house size is 1800 square feet and has a lot that is 4,501-6,500 square feet. This median home has three bedrooms and three baths.
Something of interest to note is that 40% of the listed homes for sale have needed to have a price adjustment to make them more competitive in the marketplace. There are 7% of homes that have been relisted because they did not sell in the previous listing. As a result, the days on the market have been reset. On the other hand there are 6% of the homes on the market that have been previously sold and then placed back on the market at higher prices. These properties are being “flipped.”
Search the Las Vegas MLS for Homes.
For a Las Vegas Realtor contact:
Bob and Jackie Simmons
Realty One Group