Las Vegas Real Estate Market is Strong- Current Market Statistics

The Las Vegas Real Estate Market is very strong and in full swing; everyone is very busy and happy to help you close on your next home purchase or sale. It’s a great time to buy, sell or refinance. There were a total of 3,195 Single Family, Condo’s and Townhouses closed in the month of March, that’s a huge increase! The real estate market has seen many digital changes recently with virtulization mobile real estate search apps, drones, YouTube, Facebook and mobile changes to Google; and we are keeping up on all of the latest technology updates so we can best service you. Take a look at our YouTube Chanel to see the latest videos and featured homes for sale.

The Real Estate market is healthy with an equity resale rate of 82.1%, approximately 2,624 single family homes. With 271 Short Sales, they make us just 8.5% of the current market. REO (Real Estate Owned) often referred to as bank owned or foreclosure properties currently makes up 9.4% of our market with approximately 300 homes accounted for this past month.

The loan market is strong as interest rates are at 24 month low and we are seeing fewer cash deals (1002) and more homes being financed. This gives the typical homeowner buyer power as many cash investors are out of the market. We have seen 1066 Conventional Financing home purchases, 777 FHA Financing, and 283 VA Financing purchases in the last month. We do a lot of business with the Military and there are some seller costs to VA purchases; this may account to the few VA financing purchases we have seen.

There are currently 7,187 Single Family Residence (SFR) available; with 6,268 under contract, some of which are short sales, we are happy to see those closing soon. 1,857 Condominiums and Town Homes (CONDO/TH) are available with 1,086 under contract. Our Las Vegas Homes Inventory is moving quickly, and if you have your home listed for sale you can typically expect it to sell in 90-120 days, quicker depending on if you are listing with special needs; regardless we are here to help you get it sold at its highest and best price possible. Give us a call. Military, Law Enforcement Officers and Firefighters never pay a full commission with The Radcliffe Group when you sell your home. 

The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection. Ranking consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas, Dave also ranked number 1 in 2014 as the top producing individual out of 172 Realtor- Agents in his office. 

As a retired police officer, Dave is passionate about giving back to the service community and dedicates much of his time giving and supporting the Las Vegas Metro Police Department, Firefighters and Military at Nellis Air Force Base. The Radcliffe Group can assist you in your Las Vegas PCS or relocation, New Home Construction purchase, Condo and Luxury Home purchase. Specializing in helping Las Vegas and North Las Vegas homeowners sell their home for the highest market value, Dave and his team will help you yield your highest profit. Call 702-379-3401 when it is time to sell your Las Vegas, Summerlin, Centennial Hills or North Las Vegas Home. 

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Written by Nickel Lowman
With content from Dave Radcliffe, The Radcliffe Group
Keller Williams Realty Southwest
702-379-3401
www.DaveRadcliffeVegas.com