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 March 2021.
*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.
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A Look at the Housing Stats
Last month, there were 2,767 homes sold, which is a 5% increase compared to January 2021, and a 12% increase over this time last year.
The median price of homes sold was $355,000. This is an increase of 3% compared to last month, and a 12% increase over February 2021.
Homes on the market without offers totaled 1,677. This is a 28% decrease month over month, and a 60% decrease compared to this time last year.
There were 6,816 homes on the market with offers at the end of the month, which is a 2% decrease over February 2021, and a 24% decrease year over year.
A Look at the Condo & Townhome Market
There were 722 units that sold in February 2021. This is a 16% increase over the prior month and an increase of 17% year over year.
The median price of condos & townhomes was $197,500. This is 2% more than January 2021 and 13% over this time last year.
There were 675 units on the market without offers for the month of February. Compared to January 2021, this is a 20% decrease and a 44% decrease compared to February 2021.
At the end of the month, there were 1,985 units with offers. This is a decrease of 3% over the prior month and a decrease of 18% over the prior year.
What Does it Mean if You are Looking to Buy?
It is a HOT market. We currently have less than 18 days of inventory on the market, so homes are selling FAST!
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.
With the interest rates as low as they are, now is a great time to get out there and buy a home. The interest rates have increased slightly, but are still at an all time low, so be sure to take advantage of this opportunity while it’s available.
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?
With less than 18 days of inventory on the market, it’s a hot time to sell with little competition – PLUS it’s the perfect time to get top dollar for your house on your terms. We’ve been able to negotiate a lot of rent backs where our seller is able to stay in their property for quite a while while looking for their next home.
Make sure that if you are choosing to sell, you’re doing it the right way so you can 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 info@lasvegashomessold.com.
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 info@lasvegashomessold.com.
