Here is what happened in the Las Vegas Real Estate Market for the week of March 10th to 16th with Brendan from The Brendan King Group @ REAL.
Average Weekly Sales up 12 weeks straight | 7-days at a glance, 24 days on market, 2.6 weeks supply, 489 new inventory, 1,823 active listings, 709 weekly sales, 909 under contract, $574,225 average weekly sales, and the most expensive home sold this week was $8,5000,000.
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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. It'sBrendan Bing from the Brendan King Group at Rio. And this is your Monday marketupdate for March 10th through March 16th. Let's check it out. So as it's beenfor quite a while, 100% of list price was received on average. Average days onmarket was 24 days. And weeks of supply went down from 2.8 to 2.6 weeks ofsupply. But what does all that mean? More, more, more of the same. As you lookat some of these numbers coming up, actually, active listings went down weekfrom last week. Nothing huge, but just a little bit. So new inventory was 489homes came to the market last week. Active listings went down to 1,823 homes.So 1,836 last week, 1,823 this week. Weekly sales, 709 homes. And undercontract, 909 properties. Average weekly sales price of $574,225. And the mostexpensive home sold this week was $8.5 million.
Brendan King (01:17): We were looking at some datathis week and noticed that for all of 2022, we've never once tipped below$500,000. We've only progressively gone with our average weekly sales pricefrom $500,000 to $574,225, which is officially the highest weekly average salesprice that we've had yet at $574,000. All of 2022 has just gone up from, Ibelieve, $511,000 in January, the first week, all the way to $574,000. Tightinventory, high demand. It's still there. This week, with 909 homes undercontract. I predict that next weeks of supply will probably go down again,probably down to the 2.4, 2.5 range. Let's see. We can make a liar out of meand see next week, but the data is definitely there to show that weeks ofsupplies going to go down again next week.
Brendan King (02:18): Either way, if you'd like thisby text every single Monday, text to market to 702-553-1955. Text market to702-553-1955, and you'll get this every single week by text. And of course,we'll see you again next week for another lower inventory week. Have a goodweek. See you next week.