December 08, 2020 at 8:59pm |
December 2020 | Your Area Statistics
Thanks for visiting! Here's your guide to finding out what's going on in your particular area of town.
Let's look at the map below.
You'll notice numbers in different areas of town. Those numbers are probably not something you've seen before.
However, these numbers are how real estate agents have sectioned the valley.
First, let's find your area on the map; be sure to remember the correlating code.
Next, let’s take a closer look at what’s happening in your neighborhood.
You'll get to see how your particular area of town relates to the overall Las Vegas Statistics.
As a reminder...
Las Vegas Area | December 2020
Median Sold Price = $345,000
*Median is the middle
Average Sold Price = $425,807
*Average is the sum
of the numbers divided by how many numbers are being averaged
The fact that the Average is so much higher than the Median tells us that there were more higher priced homes selling this month, bringing UP the average.
Notables This Month:
Compared to last month’s sales, most areas showed an increase in Median Sold Price.
The only exception is Area 505 - Southwest which showed a slight decline from $360,000 to $355,000.
The area showing the largest percentage increase is Area 301 - South at 25% increase from last MONTH, from $240,000 to $300,000!
The area showing the largest dollar increase is Area 404 - Northwest with an $80,000 increase from last MONTH, from $435,000 to $515,000!
Also, take a look at the Units Sold. All Areas recorded less home sales this month than last month.
Let me put a little context to these numbers.
To me, they do not show that values have increased to the extent of these huge leaps, but that more higher priced homes are selling than in prior months.
The luxury market has seen tremendous growth during these last few months.