Here is what happened in the Las Vegas Real Estate Market for the week of Oct. 28th - Nov. 3rd with Brendan from The Brendan King Group.
It is still a Sellers Market | 7-days at a glance, 21 days on market, 4.0 weeks supply, 599 new inventory, 3,190 active listings, 791 weekly sales, 914 under contract, $477,988 average weekly sales, and the most expensive home sold this week was $3,020,000.
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Text: Market To: 702-553-1955
The Brendan King Group
Simply Vegas Real Estate
3042 S Durango
Las Vegas, NV 89117
Summerlin Home Search https://bit.ly/3hxIL7K
New Home Site: https://www.showingnew.com/kingvegashomes
This istranscribed (accuracy not guaranteed)
Brendan King (00:07): Hey, what's going everybody?It's Brendan King from the Brendan King Group at Simply Vegas and this is yourMonday market update for October 28th through November 3rd. Let's check out thedata. So, it's the same as it's ever been honestly, so 100% of list pricereceived, which has honestly been the same as it's been for a few weeks if notmonths. 21 average days on the market, which is exactly the same as last weekand then four weeks of supply, which is actually less than last week. So, itcontinues to be as seller's market. I think lately we've seen a definite increasein inventory, but then we have these weeks that the same thing happens again,where all the inventory gets gobbled up. So, we're kind of still stickingaround that four week supply. Again, don't forget a neutral market is five tosix months of inventory, and we're at four weeks of supply, which is one month.
Brendan King (01:02): Moving on, let's check out therest of the data. So, new inventory is 599 homes compared to 612 last week.Active listings is 3,190 active listings. Weekly sales is 791 and then undercontract is 914 homes with the average weekly sales price of $477,988 and themost expensive home sold this week is $3,020,000. What's different? Almostnothing. Honestly, we're kind of sitting at the same number of days on marketon average. We're sitting at about the same weeks of supply. Honestly,nothing's really different. We just put a home on the market last week that thesame block I would say two weeks before was four offers, and then we put thesame home on, same floor plan, everything, and we got 12 offers this past weekand we're under contract already. So, if it's a nice home and it's in a niceneighborhood or something where there's not a lot of competition, you're goingto get a ton of offers right now.
Brendan King (02:17): It's still a seller's market.So, if you have any questions at all, reach out to us and/or text market to702-553-1955. If you want to be on our text, text market to 702-553-1955, or asI was saying, call us at 702-625-3457, and of course we'll let you know if youhave any questions regarding the sale of your property or the value of yourhome, of course, please reach out and we can definitely help you with that orjust text us, market to 702-553-1955. We'll see you guys next weekend. Thanksfor checking it out. Have a good one, bye.