Here is what happened in the Las Vegas Real Estate Market for the week of August 19th - 25th with Brendan from The Brendan King Group
Sellers Market continues- 7-days at a glance, 17- days on market, 3.9 weeks supply, 335 new inventory, 2,731 active listings, 693 weekly sales, 719 under contract, 484,266 average weekly sales, and the most expensive home sold this week 7,500,000.
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Text: Market To: 702-553-1955
The Brendan King Group
Simply Vegas Real Estat
3042 S Durango
Las Vegas, NV 89117
New Home Site: https://www.showingnew.com/kingvegashomes
This is transcribed (accuracy not guaranteed)
Brendan King (00:09): Hey, what's going on. It's Brendan King from the Brendan King group at Simply Vegas and this is your Monday market update for August 19th through August 25th. Let's check out the data. So on average home sold for a hundred percent of list price. That means on average home sold for what they listed for, average days on market is 17 days. It's a little higher than last week. And then the actual supply of homes on the market is at 3.9 weeks, which is exactly equal with last week as well. And new inventory, 335 homes. That's nearly half of that same week, last year, which was 736. This is what's keeping the supply at 3.9 weeks. And then active listings, 2,731 which is way down from last year of 4,962. Still the same market. It's still a sellers market. We are noticing a little bit of an uptick in days on market, as far as how long a home is staying on the market.
Brendan King (01:12): However, it's still a strong seller's market. Let's check out the rest of the data. So on average, this week, it was 693 homes that sold and under contract, 719. And then with the average weekly sales price of $484,266. And the most expensive home was $7.5 million. Like I said, it's all just steadily staying the same. It's still a strong seller's market, but we're seeing little signs of change. We've definitely noticed a lot more buyers willing to wait and see if anything else comes on the market and they have more options right now. So if you want this in your text every week, you can text Market to 702-553-1955. So every Monday we will text you the market update. So that's probably the quickest and fastest way to get it. So text Market to 702-553-1955, and we'll send you a text and let you know what's going on in the market.
Brendan King (02:19): Honestly, we want to say thank you so much to Chicago Title for providing us this data every single week. And of course, check out our website, kingvegashomes.com or give us a call 702-625-3457 if you're ever thinking of selling or you have any questions, you want to know the current value of your home. And of course, text Market to 702-553-1955. We'll see you guys next week. Have a good one.