(702)379-3401—www.DaveRadcliffeVegas.com—
David Radcliffe of the Radcliffe Group of Keller Williams Realty Southwest Las
Vegas is here to speak to you with a real estate market statistics update.
Updates are recorded as new information is available and released feel free to subscribe to the YouTube Channel for the latest video updates.
We are seeing a lot
of commercial construction throughout the Las Vegas Valley. Specifically, there
is a renovation underway at the Fashion Show Mall. The facelift will completely
change how you walk into the mall off the street, additionally there is a 22,000
square-foot addition in the works with a landscape redesign, five new
restaurant spaces, and cabanas (that will be very similar to The Downtown Summerlinproject), with open air walks, a cloud bar with oval roof and curving glass
walls. Zara department store will triple in size. So, lots of changes and
development to look forward to. We are seeing some nice development on the
strip. We've seen land prices and hotel construction increase, all great for
Las Vegas area.
With regard to market
status, there are a total of 9,520 properties for sale in Las Vegas, Nevada. We're
looking at 7,450 single-family homes on the market, with 1,971 being condos/
townhomes for sale. Additionally, we're looking at 5,600 single family homes under
contract (1,085 of them are condo/townhome properties) A lot of these
properties are short sales and seem to have been on the market forever, so that
skews the numbers a bit.
So here are the numbers
that really matter: 2,443 single-family homes sold last month, with an
additional count of just under 500 condos/townhomes that sold in Las Vegas. So
inventory is sitting at about 3,000 homes on the market (which has been great
for sellers). As you take a look at the toll numbers, we're looking at about 2.5-3
month inventory which is very brisk; and still considered a seller’s market. In
the last 2-3 weeks, we saw a slight slowdown to new escrows being opened and
property showings, very likely, a normal seasonal adjustment due to summer
ending and kids returning back to school.
Wrapping up out
market statistics, is a look at homes that are being foreclosed on. We are
seeing movement on foreclosures, with more coming onto the market. Time will
only tell if this is a trend we can expect from the banks, so we will keep an
eye on them and we will continue to keep you updated.
If
you are looking to buy home in Las Vegas, this means there may be more
inventory coming onto the market soon. This will create a more competitive
market for homeowners looking to sell properties.
If you are looking to buy home in Las Vegas, this means there may be
more inventory coming onto the market soon. This will create a more
competitive market for homeowners looking to sell properties. - See more
at: http://daveradcliffeltd.com/526/#sthash.A1Ihgn9z.dpuf
If you are looking to buy home in Las Vegas, this means there may be
more inventory coming onto the market soon. This will create a more
competitive market for homeowners looking to sell properties. - See more
at: http://daveradcliffeltd.com/526/#sthash.A1Ihgn9z.dpuf
(702)379-3401—www.DaveRadcliffeVegas.com— David Radcliffe of the Radcliffe Group of Keller Williams Realty Southwest Las Vegas is here to speak to you with a real estate market statistics update. Updates are recorded as new information is available and released.
Real Estate Statistics brought to you monthly by David Radcliffe
We are seeing a lot of commercial
construction throughout the Las Vegas Valley. Specifically, there is a
renovation underway at the Fashion Show Mall. The facelift will
completely change how you walk into the mall off the street,
additionally there is a 22,000 square-foot addition in the works with a
landscape redesign, five new restaurant spaces, and cabanas (that will
be very similar to The Downtown Summerlin project),
with open air walks, a cloud bar with oval roof and curving glass
walls. Zara department store will triple in size. So, lots of changes
and development to look forward to. We are seeing some nice development
on the strip. We’ve seen land prices and hotel construction increase,
all great for Las Vegas area.
With regard to market status, there are a
total of 9,520 properties for sale in Las Vegas, Nevada. We’re looking
at 7,450 single-family homes on the market, with 1,971 being condos/
town-homes for sale. Additionally, we’re looking at 5,600 single family
homes under contract (1,085 of them are condo/town-home properties) A
lot of these properties are short sales and seem to have been on the
market forever, so that skews the numbers a bit.
So here are the numbers that really
matter: 2,443 single-family homes sold last month, with an additional
count of just under 500 condos/town-homes that sold in Las Vegas. So
inventory is sitting at about 3,000 homes on the market (which has been
great for sellers). As you take a look at the toll numbers, we’re
looking at about 2.5-3 month inventory which is very brisk; and still
considered a seller’s market. In the last 2-3 weeks, we saw a slight
slowdown to new escrows being opened and property showings, very likely,
a normal seasonal adjustment due to summer ending and kids returning
back to school.
Wrapping up out market statistics, is a
look at homes that are being foreclosed on. We are seeing movement on
foreclosures, with more coming onto the market. Time will only tell if
this is a trend we can expect from the banks, so we will keep an eye on
them and we will continue to keep you updated. If you are looking to buy home in Las Vegas, this means there may be more inventory coming onto the market soon. This will create a more competitive market for homeowners looking to sell properties.
That wraps up our real estate market statistics for the month; thank you so much for watching. If you need more information go to my website or give me call. As always, we always love to talk to you about all of your Las Vegas, Centennial Hills, Summerlin, and North Las Vegas real estate needs. (702)379-3401—www.DaveRadcliffeVegas.com
- See more at: http://daveradcliffeltd.com/526/#sthash.A1Ihgn9z.dpuf(702)379-3401—www.DaveRadcliffeVegas.com— David Radcliffe of the Radcliffe Group of Keller Williams Realty Southwest Las Vegas is here to speak to you with a real estate market statistics update. Updates are recorded as new information is available and released.
Real Estate Statistics brought to you monthly by David Radcliffe
We are seeing a lot of commercial
construction throughout the Las Vegas Valley. Specifically, there is a
renovation underway at the Fashion Show Mall. The facelift will
completely change how you walk into the mall off the street,
additionally there is a 22,000 square-foot addition in the works with a
landscape redesign, five new restaurant spaces, and cabanas (that will
be very similar to The Downtown Summerlin project),
with open air walks, a cloud bar with oval roof and curving glass
walls. Zara department store will triple in size. So, lots of changes
and development to look forward to. We are seeing some nice development
on the strip. We’ve seen land prices and hotel construction increase,
all great for Las Vegas area.
With regard to market status, there are a
total of 9,520 properties for sale in Las Vegas, Nevada. We’re looking
at 7,450 single-family homes on the market, with 1,971 being condos/
town-homes for sale. Additionally, we’re looking at 5,600 single family
homes under contract (1,085 of them are condo/town-home properties) A
lot of these properties are short sales and seem to have been on the
market forever, so that skews the numbers a bit.
So here are the numbers that really
matter: 2,443 single-family homes sold last month, with an additional
count of just under 500 condos/town-homes that sold in Las Vegas. So
inventory is sitting at about 3,000 homes on the market (which has been
great for sellers). As you take a look at the toll numbers, we’re
looking at about 2.5-3 month inventory which is very brisk; and still
considered a seller’s market. In the last 2-3 weeks, we saw a slight
slowdown to new escrows being opened and property showings, very likely,
a normal seasonal adjustment due to summer ending and kids returning
back to school.
Wrapping up out market statistics, is a
look at homes that are being foreclosed on. We are seeing movement on
foreclosures, with more coming onto the market. Time will only tell if
this is a trend we can expect from the banks, so we will keep an eye on
them and we will continue to keep you updated. If you are looking to buy home in Las Vegas, this means there may be more inventory coming onto the market soon. This will create a more competitive market for homeowners looking to sell properties.
That wraps up our real estate market statistics for the month; thank you so much for watching. If you need more information go to my website or give me call. As always, we always love to talk to you about all of your Las Vegas, Centennial Hills, Summerlin, and North Las Vegas real estate needs. (702)379-3401—www.DaveRadcliffeVegas.com
- See more at: http://daveradcliffeltd.com/526/#sthash.A1Ihgn9z.dpuf
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