Category: Market Update
I take great pride in continuously working to be the best Las Vegas mortgage advisor and preparing myself to help my clients with any of their mortgage needs. As part of this preparation, I update my knowledge of the local market by analyzing the most recent market reports and retaining that information to help my clients who are searching for homes in the local area.
As of February 2017, there were 5,564 available residential single-family properties listed on the market in Las Vegas without pending offers. This number is down 4.9% from the month before and 24.1% year over year.
The average listing price for these available homes was reported at $523,455. This average price is elevated when it is considered in comparison with the average listing price for available homes with existing offers. The average listing price for these homes was reported at $408,469 in February of 2017.
Las Vegas home owners put 3,312 properties up for sale in February, which is surprisingly a decrease from both the month and year before.
Though there have not been as many homes listed on the market in the recent months, there have been more homes sold. In February of 2017, there was a total of 2,249 residential single-family units sold. This figure is up almost 5% from January of 2017 and 6.5% from February of 2016.
The current median listing price for homes in the Las Vegas market, according to a reputable real estate website, is $258,000 with a median price per square foot of $130.
Whether you are looking to purchase a home or refinance your current mortgage, as a Las Vegas mortgage professional, I am proud to be your source of information as you move through the mortgage process.
If you would like more information or to get your mortgage process started today, give me a call at (702) 683-8770.