Friday, June 29, 2018: This week the median list price for Las Vegas, NV is $385,000 with the market action index hovering around 56. This is an increase over last month’s market action index of 55. The inventory of resale homes in the Las Vegas Real Estate market has held steady at around 3,116 available homes for sale.
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.
Las Vegas Real Estate = Strong Seller’s Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Las Vegas Real Estate Median List Price
The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.
Las Vegas Real Estate Price Per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Las Vegas Real Estate Inventory
The Las Vegas real estate inventory has been relatively steady around these levels in recent weeks.
Thank you for reading our post, Las Vegas Real Estate Market Report – June 2018. For more Las Vegas real estate market news, information on homes for sale, or general Las Vegas real estate information please visit our website www.jackwoodcock.com or visit our Facebook page https:www.facebook.com/TheJackWoodcockGroup/
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