This week the median list price for Boulder City, NV is $479,000 with the Market Action Index hovering around 35, down from 40 in June 2018, a clear softening of the Seller’s market conditions. Inventory is holding steady at or around 61 single-family resale homes.
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. An index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Boulder City Real Estate = Slight Seller’s Advantage
The Boulder City real estate market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Boulder City Real Estate Median List Price
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice uptrend over the last several weeks.
Boulder City Real Estate Price Per Square Foot
In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result, the value one can buy stays the same.
Boulder City Real Estate Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
Boulder City Real Estate Average Days on Market (DOM)
The properties have been on the market for an average of 192 days. Half of the listings have come newly on the market in the past 53 or so days. Watch the 90-day DOM trend for signals of a changing market.
Thank you for reading our post, Boulder City Real Estate Market Report – July 2018. For more Boulder City real estate market news, information on homes for sale, or general Boulder City real estate information please visit our website www.jackwoodcock.com or visit our Facebook page https:www.facebook.com/TheJackWoodcockGroup/
The Jack Woodcock Group, selling Las Vegas Real Estate since 1974!