Brendan from The Brendan King Group discusses the Real Estate Market in Las Vegas for the week of Jul 29 - Aug 4, 2021.
To receive the Market Updates weekly by text | Text: Market To: 702-553-1955
Real Estate Market remains a Seller's market but Buyers have more options.
Las Vegas Real Estate Market Update for the week of Jul 29 - Aug 4, 2021- 7 days at a glance, 16 days on market, 3.9 weeks supply, 792 new inventory, 3,119 active listings, $506,625 average weekly sales price, and most expensive home sold this week $6,000,000.
The Brendan King Group
Brendan King | S.0171492
Simply Vegas Real Estate
3042 S DurangoLas Vegas, NV 89117
New Home Site: www.showingnew.com/kingvegashomes
This is transcribed (accuracy not guaranteed)
Brendan King (00:09):
Hey, how's it going? It's Brendan King from the Brendan King Group at Simply Vegas, and this is another Monday Market Update. So this week is for July 29th through August 4th. Let's check out the information. We are at 101% of list price on average for homes sold, so homes on average are selling just over list price. We're at 16 days average on the market, a little bit up from last week, and then weeks supply is 3.9 weeks. That's a little bit down from last week. Last week, we were at 4.1 weeks. Not really anything to write home about. I thought maybe we saw a upward trend. We do a little bit over time now, but I think we'll probably start to jump up and down as we get through the beginning of the school year and just get the year rolling. But 3.9 weeks, it's still a pretty solid seller's market, for sure.
Brendan King (01:02):
So on new inventory, we have 792 homes added to the market. Active listings, pretty much the same as last week at 3,119. Weekly sales at 792 homes sold last week. Under contract, 931 homes. Pretty much the same as last week. That average sales price was 506,625. And the most expensive home sold last week was $6 million. So what does all this mean? It's still a strong seller's market. Buyers may have a bunch more options right now. For a while, it was one home in every single neighborhood at every single price point that everyone had to fight over. We are starting to see at certain price points that you may have one or two choices. So on the buyer side, I think people are a little happier on the sales side. They're still getting big numbers, honestly. We just put two homes under contract that are at prices that are double what the sellers have actually purchased the home for.
Brendan King (02:06):
People are still getting really strong numbers, so we're at a point where buyers are a little happier, and sellers are still very happy. So if you do want this market update by text every week, we can text it to you. Text us market at (702) 553-1955. Text market to 702-553-1955, and every week you can have the market update sent to your phone. We'll give you the data and we'll send you the video as well. As soon as we do it, you'll be the first to get it. So, if you want this data, we'll send it to you every Monday, just text market to (702) 553-1955. As always, thank you, Chicago Title, for providing this data every week to us. It's super helpful. And if you guys need any information or you're looking to buy or sell, give us a call (702) 625-3457 or check out our website www.kingvegashomes.com. Have a good week.