October 15, 2019 at 11:32am | Shauna Gut

For most of us, our homes are the largest asset we’ll ever own—so you are right to want to understand this asset and the market you are in. 

As a native to Las Vegas, I have seen the Valley grow and develop. I know this market well and always keep a sharp eye on trends.

You deserve an expert guide … a Las Vegas native expert, so-to-speak. 

Here are the top things you need to know:

Median Sold Price is UP, UP, UP!

Wow … just wow. Last month in August, our Median Sold Price ascended to $305,000, up $2,000 from the month prior.

This month, our Median Sold Price topped at a whopping $310,000 … up 1.6% from last month and 3.3% from September 2018.

Selling During the Holidays

Eeek! With Halloween around the corner, you may think I’m trying to scare you … I’m actually NOT.

The graph below shows a pretty consistent pattern between Homes Sold (BLUE) and New Listings (GREEN).

You’ll notice as we transition into the latter part of the year, the number of New Listings is on the decline, while the number of Homes Sold is stable, sometimes with an incline.

The month when Homes Sold has the best opportunity to surpass the number of New Listings (thus giving you a better probability of receiving an offer on your home) is December.

In December 2016, the number of Homes Sold actually surpassed New Listings by 2,000 units!

In December 2017, the number of Homes Sold surpassed New Listings by 1,000 units.

And in December 2018, those two stats were near even, the only time during the year where those stats were even close to one another.

Another stat I’d like to bring to your attention is the Number of New Listings and Homes Sold in January of each year.

New Listings skyrocket up after the New Year, and demand levels simply cannot keep pace, forcing homes to sit on the market for longer than expected.



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