The median home price in Las Vegas continues to hold strong at $220,000.00 for the forth consecutive month in a row, with a slight dip of $2,000 during the month of July 2015, otherwise it would have been for five straight months. Home prices are up from the first half of the year when they were at the low $200,000.00's at the beginning of the year.
Available inventory remained relatively unchanged throughout the 2015 calendar year, with approximately 13,000 homes on the market in Clark County, less than a 30-60 day supply in most neighborhoods around town.
With such low inventory and 67% of homes selling in less than 60 days after being listed for sale, it is considered a strong seller's market yet with benefits for buyers (as well) as mortgage rates are at record lows; and the expectation of an increase as the year progresses. Homes listed for sale that have been on the market for 120+ days make up for 13% of the homes listed and as a general rule, Realtors believe homes listed for long period of time such as this are often considered over priced and the home owner should consider a price reduction if serious about selling.
What does this mean for you?
Are you unsure what your Las Vegas, Summerlin, Centennial Hills, North Las Vegas or Skye Canyon Home is Worth? The Radcliffe Group can help you determine the most accurate value for your home and help you to sell in a time frame that meets your needs when they market your Las Vegas area home for sale. Because each home is unique with specific upgrades, features and conditions, it's important to see The Radcliffe Group for a comparative market analysis before selling your home. Sites like Homevalues and Zillow can have a margin of error of 5-50%, so counting on a website will likely give you inaccurate data.
Without an actual crystal ball it's hard to know for sure what the Las Vegas Real Estate economy will look like in the coming months, however Dave keeps a close eye on the pulse of the market and reports in his Crystal Ball Report, what he thinks will happen based on our market. (Check it out here.)
The Radcliffe Group
Out of more than 10,000 real estate agents in the greater Las Vegas and Clark County area, Dave Radcliffe ranks among the Top 1% of Realtors® as number 101 during the second quarter of 2015. Dave Radcliffe ranked number 1 in 2014 as the top producing individual out of 172 Realtor-Agents in his office. Dave has a team of top producing agents and ranks consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas because he is all about customer service and utilizing the best resources in the real estate business. The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection.
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. Military, Fire and Law enforcement never pay a full commission when they work with the Radcliffe Group. 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
For Dave Radcliffe, The Radcliffe Group
Keller Williams Realty Southwest