Here is what happened in the Las Vegas Real Estate Market for the week of Dec. 2nd top Dec. 8th with Brendan King with The Brendan King Group @ REAL.
Seller Market continues through the Holidays | 7-days at a glance, 24 days on market, 3.8 weeks supply, 491 new inventory, 2,276 active listings, 717 weekly sales, 859 under contract, $527,363 average weekly sales, and the most expensive home sold this week was $4,400,000.
To receive the Market Updates weekly
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 (00:06): Hey, what's going on? It'sBrendan King from The Brendan King Group at Real Brokerage. And I am here foryour Monday market update for December 2nd through December 8th. Let's check itout. So more of the same, of course, average 100% of list price was received,as it has been for quite a while. Number of days of on market went up a littlebit from 21 days to 24 days, and weeks of supply dropped from 4.9 weeks to 3.8weeks. So we are back again below one month of inventory. And as I mention allthe time, a neutral market is five months of inventory. So we're back at 3.8weeks, so just under one month. So it's still a strong seller's market forsure.
Brendan King (00:53): So a little more data here. Sonew inventory, 491 homes came on, so 491 new inventory. Active listings wentdown to 2,276, which is actually down from 2,822 last week. Weekly sales, wehad a lot of sales come back up just due to the fact that the week before wasThanksgiving, of course, so 717 homes sold last week. And under contract, 859homes. Average weekly sales price, 527,363. And the most expensive home soldthis week is 4.4 million dollars. So honestly, a little more of the same. Wekind of called this. We said probably next week that inventory would drop backdown again and weeks of supply would drop as well since everybody went back outshopping again due to Thanksgiving passing and a normal week coming again.
Brendan King (01:48): So it's still a seller's marketby far. Is it easing? We don't see signs of it yet. Honestly, it's just beenmore of the same. Last year's active inventory was 4,017. Now we're at 2,276.It's low. It's super low. Inventory is crazy low. And of course, if you guyswant us to text you this info, text market to 702-553-1955. Text market to702-553-1955. We will text this to you every single week and you'll get a nicetext in your phone weekly on Mondays. Either way, we'll see you guys next week.It's a seller's market. It's still a seller's market. See you next week.