Here are the latest stats and findings about our Las Vegas housing market.
Here are the most recent stats we’ve gathered regarding single-family home sales:
Additionally, sellers in our market are getting an average of 99% of their list price, which shows that it’s a great time to sell.
I’m very optimistic about our market.
Another statistic that’s important to track here in Las Vegas is the eviction and foreclose ban, which are still in place at the moment. Reports have shown that, on average, 80% of people are still paying their rent or mortgage—a good sign, but that still leaves 20% of people who aren’t. So what effect will that have when the ban is lifted? It’s hard to say at this point, so we’ll definitely be keeping a close eye on that and report back with our findings.
With respect to the bigger picture of our market, I’m very optimistic. All the major projects are still moving forward. They finished Allegiant Stadium, which was very cool to see (though it’s too bad they haven’t open for games this year). Resorts World is a major resort on the Strip that is stil scheduled to be open next year. Circa, which is the first new downtown casino built in a long time, is still on track to open at the end of the year. And the convention center redevelopment project is still moving forward, as well.
If you have any questions about real estate or how the market’s current conditions affect your prospects, don’t hesitate to reach out to us. We’d love to speak with you.