Summary: Prices continue to drop as the market continues to correct. However, Las Vegas, compared to some cities remains a strong real estate market.
Las Vegas Listings: (view chart)
As predicted by seasonal changes listings in October dropped by a normal margin.
Las Vegas Market Strength: (view chart)
Compared to other national averages and normal sales the Las Vegas market remains steady. Prices have dropped but the average days on market for home competitively priced remains good. The key to selling today is pricing a home correctly.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has decreased. Fewer buyers look to purchase in the fall months as we exit the summer selling season. Frankly, buyers who purchase in the next few months will see great values and will be rewarded in future months.
Las Vegas Median Prices: (view chart)
Median prices dropped some. They're holding steady at between $255k - 265k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The selling season has come to an end. Homes will sell. The motivated will get out and savvy buyers will reap the benefits.
Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/