Las Vegas Housing Stats June 2019 –

First, please click on the link Las Vegas Housing Stats June 2019 for the full report so you have a visual to follow along with.

• The median price point for sold homes in June 2019 was $304,000.  This is up from the previous 3 months, however, a 4.8% increase from June 2018.
• The number of homes sold in June 2019 was 2,903, which was a decrease of 11.5% from May 2019, and a decrease of 11.1% from June 2018.
• The number of new listings that came on the market in June 2019 was 4,207.  This is down by 8.5% from the previous month and up 8.1% from June 2018.
• The number of available homes listed without offers in June 2019 was 7,815.  This is a slight decrease of 0.5% from May 2019, but a whopping increase of 80.3% from June 2018.
• Time on market for homes sold:  0-30 days was 57.7%, last year at this time it was 74.7%. We saw an increase from 31-60 days to 21.1% and relatively unchanged from 61-90 days at 10%.  From 91-121+ days was down slightly from last month, however, almost double what it was last year at this time.

Signs of Stability-

The numbers are indicating that the Las Vegas Housing Market are showing signs of stability.  The median price point for the Las Vegas Market is at $304,000, which is only a 4.8% increase from June 2018.  This is the smallest year-over-year increase since June 2012.  The current Las Vegas Median Price point is only $11k away from when pricing peaked out at $315,000 in June of 2008.  The Las Vegas Market has also seen a slowdown in 2019 with the number homes that have been selling versus last year.  The slowdown in the Las Vegas Market has really been felt in the number of homes listed without an offer, which is up 80.3% from a year ago at 7,815.  This does not mean we have to hit the panic button as the Las Vegas area has had tremendous growth over the last several years.  GLVAR reported that properties purchased in June with cash were at 20.2%, which compares to 22.9% in June 2018.  And the number of distressed sales, short sales, and foreclosures combined dropped to 2.2% from 2.6% a year ago and 6.3% two years ago.

For the complete 8-page report please call/text me at 702-427-9444.

(Click here or on Picture for full 8 page report.)