Monday Market Update for the week of Jan. 20th - 26th, 2022

Here is what happened in the Las Vegas Real Estate Market for the week of from Jan. 20th to Jan.26th with Brendan from The Brendan King Group @ REAL. 

Continues to be a Sellers Market | 7-days at a glance, 26 days on market, 3.5 weeks supply, 473 new inventory, 1,973 active listings,  568 weekly sales, 852 under contract, $513,154 average weekly sales, and the most expensive home sold this week was $2,325,000.

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Brendan King

S.0171492

The Brendan King Group

Office: 702-625-3457

Email: info@kingvegashomes.com

Website: https://www.kingvegashomes.com/

Real Broker, LLC

7997 W. Sahara Ave. 

Las Vegas, NV 89117

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Twitter: @kingvegashomes

Summerlin Home Search https://bit.ly/3dr5Ian

New Home Site: https://www.showingnew.com/kingvegashomes‍

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This is transcribed (accuracy not guaranteed)

Brendan King (00:06):

Hey, what's going on, everybody? It's Brendan King fromthe Brendan King group at Real. And this is your Monday Market Update forJanuary 20th through the 26th.

               So,let's check it out. It's a little more of the same, to be honest. A hundredpercent of list price on average was received. 26 average days on market,exactly the same as last week. The weeks of supply went down to 3.5 weeks ofsupply.

               Whatdoes this mean? Not much. Nothing's really changed. It's a little more of thesame from last week. It's still a strong seller's market. And let's check outthe rest of the data to see what's going on here.

               Sonew inventory, 473 homes came on the market. Active listings actually went upto 1,973. So listings went up, but supply went down because of the number ofhomes that actually sold. So, 568 homes sold last week. And 852 homes wentunder contract. With the average weekly sales price being $513,154. Andprobably the lowest, most expensive home sold in the past year was $2,325,300.

               We'reused slightly, we've been seeing so many homes at 4, 5, 6, 7, 8, and above milliondollars. Yeah, the most expensive home sold last week was $2,325,000. So whatdoes this mean? Honestly, more the same. It's still a seller's market. If youhave any interest in knowing how much equity you have in your home, feel freeto reach out to us or give us a call. You could always check out our website atwww.KingVegasHomes.com. Or text Market to 702 553 1955. As always, we'll seeyou guys next week. Have a good one.

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