Here is what happened in the Las Vegas Real Estate Market for the week of April 7th to 13th with Brendan from The Brendan King Group @ REAL.
Weeks of Supply inching up | 7-days at a glance, 17 days on market, 3.4 weeks supply, 617 new inventory, 2,058 active listings, 611 weekly sales, 819 under contract, and the most expensive home sold this week was $9,000,000.
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Text: Market To: 702-553-1955
The Brendan King Group
Real Broker, LLC
7997 W. Sahara Ave.
Las Vegas, NV 89117
Summerlin Home Search https://bit.ly/3dr5Ian
New Home Site: https://www.showingnew.com/kingvegashomes
This is transcribed (accuracy not guaranteed)
Brendan King (00:07):
Hey, what's going on Brendan King from the Brendan KingGroup at REAL. And this is your Monday market update for April 7th throughApril 13th. Hope you had a great Easter and happy Passover as well, and a greatspring break, if you were on spring break, I know a lot of people were. Let'scheck out the data. So, of course it's more of the same. So, on average, a 101%of list price was received. Average days on market, just down by one day to 17days on the market. And weeks of supply were up to 3.4 weeks of supply from 2.8weeks last week. It's just more the same, it's a seller's market for sure.We're seeing little signs here and there of a little bit of change. Some homesat certain price points are seeing less offers each time they list, other oneslike below $500,000, it's a crazy fiasco of offers on nearly every house that'sa spec actually well taken care of or upgraded.
Brendan King (01:06):
We're definitely seeing a flurry of offers on homes under$500,000. Let's check out the rest of the data. So, new inventory was 617homes, which is up from last week. Active listings are down. So again, lookweeks of supply went up, but the active listing went down to 2058 homes thatare currently on the market. Weekly sales, 611 homes compared to last week of779. So, a pretty significant difference but not far off from last year if yousee the last year number there. Under contract, 819 properties and the averageweekly sales price was $586,000 or I should say $586,763 to be exact. Mostexpensive home sold this week was $9 million. What does all this mean? It'sstill a seller's market. If anything changes we will let you know for we see signsof it.
Brendan King (02:06):
But right now we still just have a really tight inventory,even with interest rates ticking up as much as they have, in some situationsover a percent higher. We're still seeing the same flurry of offers and energyon a lot of price points. Don't forget if you'd like text 'market' to702-553-1955 and we will send you this information every single Monday viatext. And if you'd like to check out our websites, www.kingvegashomes.com. Feelfree to put in your address, we can help you understand what your currentequity is in your home and definitely help you see if it's a good time to sellor not. It's definitely a great seller's market, but it doesn't always meanit's the best time for everyone to actually sell because you do have to move.But definitely reach out and we'd love to help you out. Hope you had a greatweekend and we will see you guys next week. Have a good one.