Las Vegas Market Watch
Roy's Year End Housing Forecast 2024
Posted 7-2-2024
Strong home sales are forecast for the 3rd and 4th quarters
As of today - The Las Vegas Valley Area has 5648 listings
which equates to about 62 days of inventory.
An average of 90 homes were SOLD per day in June 2024,
and that is not counting new homes sold.
Last year, Las Vegas was selling 103 homes a day.
In 2022 we were selling 124 properties a day.
Today's median home price is at $485k
32% of homes available on the market are in that median price range.
Just to give you an idea of how prices have risen, at the end of 2023, the median price was $450k.
So much for the media's hyping the 'crash' of the housing market!
In Las Vegas homes over $1m make up about 17% of the market.
There are 933 homes in the million dollar range available in Clark Co
We are selling 5 homes priced $1million and upwards per day.
At the end of 2022, Interest rates were 4.75%
Now interest rates are just less than 7% and hovering around 6.86%
It is estimated that 5 people are moving to the Las Valley Area every hour.
For more real estate market details, or to Buy or Sell Your Home, with the most informed Realtor in the Las Vegas Valley,
Call Roy McCann-Your Real Estate Man, Lic#01332401
Phone or Text - 702-403-5321
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