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Home » Las Vegas Real Estate Market Trends – Week of 6/18

Las Vegas Real Estate Market Trends – Week of 6/18

As seen in our last other real estate market reports, the Las Vegas Valley real estate market has been doing extremely well this year. Compared to last week, this week has seen a decrease in the median price and an increase in inventory. We use data from the MLS has to examine the real estate market.

 

Compared to last week, the median price on a 3 bedroom house has decreased. Currently, the median price is $294,000. Last week, the median price was $294,900. Even so, this week is still higher than just a month ago.

A month ago, the price was $290,941. Since the middle of April, the median price has been $290,000 or above. This is great for people who have bought recently because they have gained equity without paying extra.

Market inventory increased from last week. The ratio of active listings to properties that are contingent or pending was 28.4. This week, the ratio is 28.8.

 

Recap

We are now halfway through with 2018. At the beginning of the year, the median price for a three bedroom was $267,900. Now, it’s $294,000. If someone had bought a three-bedroom house at the beginning of the year, it’s very possible that the house appreciated by over $20,000.

 

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