Here is what happened in the Las Vegas Real Estate Market for the week of Sept. 9th - 15th with Brendan from The Brendan King Group
Wow, only 7 average days on the market - 7-days at a glance, 7- days on market, 3.4 weeks supply, 216 new inventory, 2,250 active listings, 664 weekly sales, 488 under contract, $496,057 average weekly sales, and the most expensive home sold this week $6,300,000.
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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
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This is transcribed (accuracy not guaranteed)
Brendan King (00:08): Hey, how's it going everybody? It's Brendan King from the Brendan King Group at Simply Vegas and this is your Monday market update for September 9th through September 15th.
Brendan King (00:17): We've got some crazy data actually this week. So, a hundred percent of list price was received as we've been seeing for several months in a row, but average days on market seven. That's crazy. So on average, every home has been on the market for seven days. We've never seen that, honestly in at least from COVID till now, we've definitely not seen seven days on average on the market. 3.4 weeks of supply. So that's kind of holding up to what we've seen the past few months, anywhere from two to four months, kind of bouncing back and forth. But the seven days on market is something that may see some future things that may change. We'll see. Obviously data's data. Seven days is today. What is it next week? We'll see.
Brendan King (01:14): Moving from there. So, 216homes on the market, new inventory. Active listings, 2250. That's lower than the 2,394 from last week. Weekly sales, 664. Last week was at 594, so that's moved up actually a significant amount. And then under contract, 488 homes. Different from last week of 522. Average sales price of 496057. Honestly, that's kind of been hovering between 520, 480, 496, so it's kind of all hovering around 500,000. Most expensive home, this is actually becoming a norm,6.3 million. It used to be that the average million dollar home was 2 million,3 million, now we've got another home at 6.3. Last week was at 6 million. We got a 12 million, a 15 million, a 20 million. It's just kind of been bouncing all over the place, but the average high for the high has definitely been creeping up.
Brendan King (02:27): What does this all mean? Nothing. It's the same market it was last week, so text market to 702-553-1955,702-553-1955. Overall, it means same market right now. Honestly last week, the week before, we're kind of just bouncing back and forth. No new data that means something significant to change from here. But seven days on average, that's crazy. We were talking in the office today, Denise and I and David, just before we started this video, we were like "Seven days? Have we seen seven days in the past year? Two years? No." David? No.
David (03:11): Never.
Brendan King (03:12): Yeah, definitely not. That's a crazy number. So either way, it's still a sellers market. A hundred percent of list price received. If you're on the market, and you're priced right, and you have the right listing agent, it's going to sell.
Brendan King (03:28): Have a good one. We'll see you next week. If you want to call us, call us (702) 625-3457 and, as always, text market to 702-553-1955. If you want the update every single Monday, we'll send it to you by text to your phone. If you want the market update, text us. Have a good one. See you guys next week.