Every month, the housing market is shifting and it’s important to stay up to date on the current information so that you can make the best decision on when you would like to buy, sell or refinance. Here’s what’s new with the Las Vegas Real Estate market for February 2020.
*All stats are pulled from LVR reports and are subject to change on a daily basis as new listings come on the market and existing listings sell. Call us at 702-838-7700 if you are looking to buy or sell for the most current stats.
A Look at the Housing Stats
In January 2021, there were 2,638 homes sold. This is a 20% decrease compared to last month and a 16% increase over January 2020.
The median price of homes sold was $345,000, which is the same as December 2020, and a 13% increase over this time last year.
At the end of of the month, there were 2,315 homes on the market without offers. Compared to last month, that’s a 29% decrease and a 53% decrease over the prior year.
The pending homes on the market with offers were 6,937, which is less a month’s inventory. That’s a 7% decrease over last month and a 22% decrease over January 2020.
A Look at the Condo & Townhome Market
There were 624 units that sold in January 2021. That’s a decrease of 21% compared to December 2020, as well as a 5% increase compared to this same time last year.
The median price of condos & townhomes was $193,000. This is an increase of 4% month over month and 10% year over year.
There were 847 homes on the market without offers for the month of January. Compared to December 2020, this is a decrease of 27%, as well as a decrease of 40% compared to January last year.
At the end of the month, there were 2,044 units with offers. This is a decrease of 2% over the prior month and a decrease of 15% over the prior year.
What Does it Mean if You are Looking to Buy?
Prices are staying consistent, but are higher than last year. With the interest rates as low as they are, now is a great time to get out there and buy a home. If home prices continue to increase or stay flat, there’s no guaranteeing that those interest rates are going to stay that low.
Make sure if you are actively looking for a home that you are as prepared as possible. This means making sure you are pre-approved, have all of your finances prepared, have a strong & seasoned real state agent to help negotiate your offers for the best deal for a higher chance at acceptance and more.
Our team has 100+ years collectively in real estate, so we know the market and know what’s going to work to get you the home you want.
Looking to save $$ on your mortgage? Connect with us, today – we’ve helped many clients save thousands on their home purchase.
Browse the most recent homes for sale in Las Vegas below:
What Does it Mean if You are Looking to Sell?
This is a HOT market with very little inventory, so when you look at the stats you’ll see that there’s not enough homes on the market. There’s more demand than homes available on the market, which means now is a great time to sell!
Make sure that if you are choosing to sell, you’re doing it the right way so you can get top dollar and get it sold quickly with numerous offers. Our team can help!
If you’re curious what your home may be worth or want to know more about selling, connect with us today at (702) 838-7700 or firstname.lastname@example.org.
Homes for Sale
The homes for sale below are the newest homes on the market in Las Vegas
Condos & Townhomes for Sale
The Las Vegas condos & townhomes listed below are the newest on the market.
Your Las Vegas Real Estate Team
We’ve been serving Las Vegas for over 33 years and we’re happy to help you whether you’re looking to buy, sell, refinance or just want to know more about this wonderful city! Connect with us today at (702) 838-7700 or email@example.com.