Summary: The number of listings is slowing due to seasonal factors. The average days on market are climbing some affecting some of the ratios. The median prices have dropped slightly.
Las Vegas Listings: (view chart)
As predicted by seasonal changes listings in November dropped by a normal margin. The curve matches other years.
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 homes competitively priced remains good, although it has climbed. The key to selling today is pricing a home correctly.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has decreased. The holiday season affects both buying and selling activity.
Las Vegas Median Prices: (view chart)
Median prices dropped some. They're holding steady at between $250k - 260k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The selling season has come to an end. The motivated will get out and savvy buyers will reap the benefits. The national average for days on market is around 90 in a healthy market. Las Vegas homes, which usually sell in less time, that are priced correctly are selling on average for just under that amount still. While the market is in correction gains from years ago are still considerable.
Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
