Summary: The number of listings slowed due to seasonal factors. The average days on market have stayed contant. The median prices have dropped slightly.
Las Vegas Listings: (view chart)
As predicted by seasonal changes listings in December dropped by a normal margin. The curve matches other years and is a bit more exaggerated by negative press on housing.
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 $240k - 260k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The holidays have affected the number of home for sale. Sellers are involved in other activities so listing numbers drop off. Buyers who are motivated are making purchases and 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 real estate statistical market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
