The Greater Las Vegas Association of REALTORS® has released February’s housing market numbers for the Southern Nevada housing market. Click here: Local home prices dip below $300,000 as homes sell at slower pace
From the Nevada Business story in the link:
GLVAR [Greater Las Vegas Association of REALTORS®] reported that the median price for existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during February was $296,200. That’s down from an even $300,000 in January, but still up 7.7 percent from $275,000 in February of 2018.
For comparison, the above sentence, re-written to describe Reno/Sparks’ February housing market would read: The median price for existing single-family homes sold in Reno/Sparks through its Multiple Listing Service (MLS) during February was $369,450. That’s up from $361,000 in January, and virtually unchanged from $370,000 in February of 2018.
If you found this information on the Las Vegas housing market useful, please let me know in the comments below.
Also, although I do not personally serve the Las Vegas real estate market, I know some excellent REALTORS® who do. If you would like me to refer one to you, let me know.
geopower
thoughts on the relatively high (#4 nationally per the Census, ~5% higher than Washoe) vacancy numbers in Vegas/Clark County? https://www.lendingtree.com/home/mortgage/highest-vacancy-rates/?ccontent=TnL5HPStwNw&s1=TnL5HPStwNw&s2=TnL5HPStwNw-SPCc5BQEjG3sj.TTJFHOag&ranMID=41202&ranEAID=TnL5HPStwNw&ranSiteID=TnL5HPStwNw-SPCc5BQEjG3sj.TTJFHOag&PUBSID=2116208&PUBNAME=Skimlinks.com
Guy Johnson
Thank you for sharing the above link, Geopower. In regards to your question, I would guess that the difference in the vacancy rates have to do with the influx of a relatively higher number of people moving to the Reno area, combined with the Reno area having a relatively fewer number of apartments available for rent.