Here is what happened in the Las Vegas Real Estate Market for the week of Dec. 9th to
Dec. 15th with Brendan King with The Brendan King Group @ REAL.
A Sellers Market heading into the Holiday | 7-days at a glance, 25 days on market, 3.7 weeks supply, 435 new inventory, 2,598 active listings, 710 weekly sales, 798 under contract, $502,929 average weekly sales, and the most expensive home sold this week was $7,000,000.
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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 (00:06): Hey, what's going on BrendanKing from the Brendan King Group at REAL, and this is your market update forDecember 9th through the 15th. Let's check it out.
Brendan King (00:15): And as it's been for quite awhile, 100% of list price on average was received. Days on market, ticking up alittle bit from 24 last week to 25 average days on market, and then the weeksof supply has ticked down a tiny bit to 3.7 weeks. It's a normal festiveChristmas, New Years, holiday time of year when things kind of slow down alittle bit. Typically, the actual number of listings goes up a bit more. Buthonestly, for every bit of inventory we add, we seem to be selling it the weekprior. So I think right now we're going to see a little bit of a steady paceuntil January, and I'm sure we'll get the normal end of mid to end of Januaryrush where everything starts to tick back up.
Brendan King (01:05): Let's check out the rest of thedata. So new inventory, 435 homes, which is down from last week. Activelistings is up. So again, that's that normal holiday time slow, so 2,600 homes.Weekly sales is down, 710, and under contract is 798 homes under contract.Average weekly sales priced $502,929, and the most expensive home sold thisweek is $7 million. Love that festive red hat, of course, for the holidays.Hey, it's Christmas week, New Year's next week. Hope everyone has a greatholiday. As always, if you text MARKET to 702-553-1955, we'll send you thisinformation every single Monday via text.
Brendan King (01:55): And again, happy holidays. Hopeyou guys have a great, great, great end of the year. It's still a seller'smarket, but honestly, buyers, you have some other options right now. You haveadditional options so that's why you see the average days on market ticking up.So if you are a buyer, don't be discouraged, this may be your chance to nabsomething that you really like and not have as much competition. Either way,have a great week, we'll see you next year.