The data game
August 17, 2024 by agutting@reviewjournal.com
Filed under Community
BY KIMBERLY SMITH
The Las Vegas housing market experienced notable changes in July compared to previous months. As of July, there were 4,105 homes on the market, an increase from 3,695 homes in June. However, home sales declined from 2,286 in May to 1,987 in July.
MARKET SEGMENTS
• Luxury Homes: The number of homes priced over $1 million rose slightly from 729 in June to 782 in July.
• Mid-Range Homes: Homes priced between $500,000,-$999,000 saw an increase from 1,623 in June to 1,792 in July.
• Affordable Homes: Homes priced between $300,000-$499,000 increased from 1,311 in June to 1,488 in July.
• Entry-Level Homes: Homes priced below $299,000 remain scarce, with 19 available in June and 22 in July.
DISTRESSED PROPERTIES
• Short Sales: The market had 16 short sale properties in June and 14 in July.
• Bank-Owned Properties: There were 28 bank-owned properties in June and 23 in July.
The current inventory represents less than a two-month supply of homes, indicating a competitive market for buyers and sellers alike. If you’re considering buying or selling real estate or have any questions, please don’t hesitate to give me a call The Queen of Real Estate. I’m here to help you navigate the market!
This update is concise, informative, and keeps you engaged with the latest trends. Happy house hunting!
Homeownership is possible! Call Kimberly Smith, Broker Salesperson with King Realtor Group at (702) 291-7098 | www.kimberlysmith.realtor | NV.Lic. No. BS.146388
