Overall in Las Vegas and Henderson, Nevada real estate, we are in what is considered an extreme seller's market. While the real estate climate can fluctuate and change with financial and statistical trends, Las Vegas has seen a great amount of growth. 3.6 months of inventory exhibits the seller's market data, even though the market can be different based on demand and the quantity of homes for sale in each price range.
Various regions in Las Vegas sell at varying speeds- some of these statistics can impact the value of homes for sale in Las Vegas and Henderson, Nevada. In North Las Vegas, 429 homes sold with 3.6 months of inventory, at a median sale price of $205,000. Contrastingly, in Boulder City, Nevada there were 9 listings sold with 9 months of inventory- the average selling price was $270,000. High levels of home sales in the Southwest show 541 home sales at a median price of $245,000 after 3.83 months of inventory. These figures have drastically increased over just one period of time. Adding as much as twice the amount of active listings to the real estate pool, and cutting off months of time for inventory, the climate for home sales in the Las Vegas and Henderson, Nevada area is on the rise.
Home prices are soaring in this current sellers market and home inventory is still up, even though there have been some slight variances. In an extreme seller’s market, 0-3 months of inventory is the norm, with very high appreciation. Extreme buyer’s markets see 12 months or more for inventory sales, with high depreciation. A balanced market generally falls somewhere in between at 6-9 months of inventory, with slight depreciation of properties. Home prices are continuing to rise, regardless of the number of home sales in certain sectors. In the current extreme seller's market climate, zip codes in and around the Las Vegas area can be an implication as to what areas are experiencing the most home sales. 89052 (Henderson, NV) has seen high numbers of home sales, at 81 sold at a median price of $350,900, which is slightly down from the month before. 89178 (near Enterprise, NV) came in at on average 64 home sales for 3.22 month of inventory. Prices in this area mark at $242,500. While home sales are slightly less in this area (for example), the home price has risen in just one month. The 89005 zip code (Boulder City, NV) showed 9 homes sold after 9 months of inventory, Overall, home sales are up significantly quarter-over-quarter from just a few months ago, and home prices are continuing to rise at rapid rates.
