Here is what happened in the Las Vegas Real Estate Market for the week of Sept. 16th - 22nd with Brendan from The Brendan King Group
Sellers market continues - more of the same | 7-days at a glance, 22- days on market, 3.6 weeks supply, 187 new inventory, 2,096 active listings, 586 weekly sales, 455 under contract, $483,653 average weekly sales, and the most expensive home sold this week was $2,920,000.
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The Brendan King Group
Simply Vegas Real Estate
3042 S Durango
Las Vegas, NV 89117
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This is transcribed (accuracy not guaranteed)
Brendan King (00:08): Hey, what's going on everybody?It's Brendan King from the Brendan King Group at Simply Vegas. and this is yourMonday market update for September 16th through September 22nd. Let's check itout. So, hundred percent of list price received, that's exactly the same aslast week. 22 average days on the market, which is up from seven days lastweek, which was the lowest we've seen in a while. And then we're up to 3.6weeks of supply. So, what does all this mean? Pretty much we're still in asellers market of course. So, yes the days on market changed a little bit, the weeksof supply changed a little, but let's check out the rest of this data. Thiskind of tells you why. So, the new inventory, we had 187 homes come on themarket, which is a bit less than last week. But active listings is that 2096,last week it was at 2250.
Brendan King (01:04): So, that kind of explains whythe supply went up and changed a little bit because actually the listings wentdown. But we did have a little less in weekly sales, 586 homes. Under contractwe had 455 and then the average weekly sales price is $483,653. And the mostexpensive home sold this week was $2.9 million. So, overall not much haschanged. Like I said, we look at this every week because we want to see a slowprogression of change. And if we see one, of course, we're going to be thefirst one to let you guys know upfront. But honestly, it's another jump by 0.2weeks of supply. That's not much of a change and there is a little change indays on market but again, it's only a matter of a few days back and forth. So,in the future we just keep an eye on this on a long-term basis and see ifthere's any changes coming.
Brendan King (02:03): And of course, if you want thisevery single week in a text, text "market" to 702-553-1955, text702-553-1955, and you will get a text every Monday. Actually you'll be thefirst to get it before anybody else. And of course, don't forget we're givingaway two tickets to the Raiders game, text "Raiders" 702-553-1955.You only have until next Monday to do that, seven days left. It's the Raiders vsBears game. We have two amazing tickets that are honestly some of the bestseats in the house. So, text "Raiders" to 702-553-1955. Why not? It'stwo tickets to the Raiders. You don't have to do anything else but text. Buteither way, thank you so much for joining us for the market update. If you haveany questions, feel free to reach out directly 702-625-3457 or check out ourwebsite. We've got so much information on there, blog posts, market updates,videos, whatever you want to see, www.kingvegashomes.com. See you guys nextweek.