Happy Holidays from The Radcliffe Group at Keller Williams Realty Southwest Las Vegas. I’m Dave Radcliffe with the latest Las Vegas Real Estate Market Report for the year end. Statistics are obtained from the Greater Las Vegas Association of Realtors MLS.
Single Family Residence (SFR) Homes Available In Las Vegas
- Available- 8,009 (Down -78, as Last Week we were at 8,087), at the beginning of the year we were closer to 5000-6000, so we have more inventory of homes for sale right now.
- Sales are 26% off 2014 vs. 2013, but did not affect value; it just slowed down the drastic (35%) price increase we saw in 2012.
- Under Contract – 4,936 (Down -118, as Last Week we were at 5,054)
- Days of Supply – 49 (+0, Last Week 49), we are still in a very brisk market, and it is considered a seller’s market.
- Short Sales – 3,363 (-58, Last Week 3,421) Short sales re a diminishing part of our Las Vegas real estate market, but are still getting accepted. Short sales are now only about 9% of our market. There is a structured process now to get them done and closed. Foreclosures are now only approximately 10-11% of the market, so that means 80% of the market is traditional equity sellers.
- Condominiums and Town Homes Available in Las Vegas – 2,006 (Down -37 from Last Week 2,043), Under Contract – 943 (Down -17 from Last Week 960), Days of Supply – 64 (+0, Last Week 64), Short Sales – 732 (Down-16 from Last Week 748)
Current combined Las Vegas Real Estate Statistics for Single Family Residence, Condo, Town Houses
- Available – 10,015 (Down -11 from Last Week 10,130)
- Under Contract – 5,879 (Down -135 from Last Week 6,014)
- Days of Supply – 52 (+1, Last Week 51)
- Short Sales – 4,095 (Down -74 from Last Week 4,169)
- 2009 sales last month SFR, 406 condo townhouse
BIG News around Las Vegas for 2014:
We will continue to see the fall out with Caesars filing bankruptcy. This will affect the strip and will update you
The SLS project re-branding the Sahara and turning it into a trendy destination location, and Downtown Summerlin opening were the big highlights for the Las Vegas area in 2014.
Thank you so much for watching. If you need more information go to my website or give me call. As always, we always love to talk to you about all of your Las Vegas, Centennial Hills, Summerlin, and North Las Vegas real estate needs. Thank you for your trust and for protecting our cities The Radcliffe group looks forward to hearing from you and servicing your real estate needs. Happy Holidays from the Radcliffe Group at Keller Williams Realty Southwest Las Vegas 702-379-3401 www.DaveRadcliffeVegas.com
With content from GLVAR
For Dave Radcliffe, The Radcliffe Group
Keller Williams Realty Southwest