Las Vegas Housing Stats July 2019 –
First, please click on the link Las Vegas Housing Stats July 2019 for the full report so you have a visual to follow along with.
- The median price point for sold homes in July 2019 was $303,000. This is down a hair from last month, however, a 4.5% increase from July 2018.
- The number of homes sold in July 2019 was 3,159, which was an increase of 8.8% from June 2019, and a decrease of 0.8% from July 2018.
- The number of new listings that came on the market in July 2019 was 4,123. This is down by 2.0% from the previous month and up 6.6% from July 2018.
- The number of available homes listed without offers in July 2019 was 7,808. This is a slight decrease of 0.1% from June 2019, but a huge increase of 63.1% from July 2018.
- Time on market for homes sold: 0-30 days was 57.6%, last year at this time it was 74.8%. 31-60 days was 20.4% which was relatively unchanged from last month, but up from 14.2% in July 2018. 61-90 days was at 10.8%, slightly up from the previous month, but up double from last July of 5.2%. From 91-121+ days was about the same for last month, however, almost up double what it was last year in July.
Continued signs of Stability –
The numbers are indicating that the Las Vegas Housing Market are showing continued signs of stability. The median price point for the Las Vegas Market is at $303,000, which is only a 4.5% increase from July 2018. Last month the median price point for the Las Vegas Market was at $304,000. This is still the smallest year-over-year increase since June 2012. The current Las Vegas Median Price point is only $12k 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 63.1% from a year ago at 7,808. Last month this number was up 80.3% from the previous year. Las Vegas currently has less than a 3-month supply of homes on the market, but this number has continued to grow over the last several months which continues to point towards a balanced housing supply. 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. The GLVAR reported that properties purchased in July with cash were at 21.7%, which compares to 22.6% in July 2018. And the number of distressed sales, short sales, and foreclosures combined dropped to 2.0% from 2.9% a year ago and 6.4% 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.)
