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Las Vegas Housing Market up by 15.7 % since March of 2018

Las Vegas Housing Market 2018

Here’s a look at the Las Vegas Real Estate Market for April 2018. According to a report released on April 6th by the Greater Las Vegas Association of REALTORS® (GLVAR), homes prices continue to rise while inventory numbers shrink as we head in spring.

From March of 2017 to March of 2018, the median price range for homes in Las Vegas went up by 15.7 percent.

March ended with a total of 3,886 condominiumstownhomes, and single family homes sold. That is an impressive increase from the 2,704 sold in February, but the number is down 1.3 percent from last year at this time. The median price range of houses that sold in Las Vegas during the month of March was $280,000. This amount shows an increase of 15.7 percent from March 2017 and an increase of 1.8 percent from the $275,000 of last month.

Where is the Hottest Market in Real Estate 2018?

Las Vegas named hottest real estate market for 2018

Posted: Jan 18, 2018 11:26 PM PST Updated: Mar 29, 2018 11:51 PM PDT

Homes in the Las Vegas area are shown in an undated image. (File) Homes in the Las Vegas area are shown in an undated image. (File)

LAS VEGAS (FOX5) – Realtor.com named Las Vegas the number one real estate market in the country for 2018. The site based its criteria on the price and amount of existing homes, new home construction, and local economic trends.

“We’ve been number one a lot in the last 15 years but this one list we finally want to be on, you remember we were number one for foreclosures and short sales but now were the number 1 hottest market to look forward to,” said Greater Las Vegas Association of Realtors President, Chris Bishop.

Homes across the valley are flying off the market.

2017 was the 3rd best year for real estate sales in the Valley and realtors predict this year will be even better.

Bishop said it’s a great time to live and own a home in Las Vegas.

“People are back to work, they’re spending money the economy here is fantastic the nightlife is great, everywhere you go in Southern Nevada there is development happening,” he said.

Experts believe the hot housing market means demand is high, but supply is limited.

“Low inventory is going to be the biggest issue that buyers are going to have in 2018 so if you’re out to buy that first time home you may have to offer on a few houses to get the one you want,” he said.

Bishop said buyers will most likely face competition when they make an offer to find a good agent and be prepared.

“You’re gonna want to make sure you have your approval letter in place, know how you’re going to pay for the property if you’re getting a loan do you understand the loan program, the more likely you are to get presented in a good light to the seller,” he said.

It is a seller’s market so if you’re thinking about listing your home now is a great time.

“Now buyers are out there just wanting to get into a property and so if you have that home and it’s available you’ve got a lot of it done”

Home prices are rising, but does that mean we’re heading toward another housing bubble?

Realtors like Tim Kelly Kiernan believe the market tends to go up and down they’re optimistic we’ve already seen the worst of it.

“I don’t think what happened in 2008 will ever happen again a lot of that had to do with the mortgages and poorly written mortgages. I don’t think the bubble will happen ever again in our lifetime I don’t see it happening,” he said.

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5-6%

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Reasons you may need a New Property Manager

9  Reasons You Should Probably Change Property Managers

Hiring a property manager is a great decision in many instances. Some reasons you may decide to change a management company include:

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  • “Bad Tenants”
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Las Vegas Real Estate market named HOTTEST for 2018 !

LAS VEGAS (FOX5) –
Realtor.com named Las Vegas the number one real estate market in the country for 2018. The site based its criteria on the price and amount of existing homes, new home construction, and local economic trends.

“We’ve been number one a lot in the last 15 years but this one list we finally want to be on, you remember we were number one for foreclosures and short sales but now were the number 1 hottest market to look forward to,” said Greater Las Vegas Association of Realtors President, Chris Bishop.

Homes across the valley are flying off the market. BUY NOW!

2017 was the 3rd best year for real estate sales in the Valley and realtors predict this year will be even better.

Vegas Rental Market Stats!

Vegas Rental Market Stats!~Commercial News

Highlights Commercial~ NAR latest Commercial Outlook

Highlights

  • Macroeconomic conditions continued improving at a moderate pace in the second quarter of this year.
  • Demand for commercial lease space continued advancing in the second quarter of 2015, rebounding from the soft performance of the wintry first quarter.
  • While construction has been ramping up across all property types, the gap between demand and supply continued to add downward pressure on availability.
  • The apartment sector was the only exception, as new supply exceeded demand this year, resulting in a slight increase in vacancies.

 

Las Vegas Residential Rental Market Statistics 2015 – 2016

What are the rental vacancy rates in Las Vegas? 5.1%. What is the median rent in Las Vegas? $1,000. How many people live in Las Vegas? 2 million. What are the percentage of renters in Las Vegas? 48%. What is the median household income in Clark County? $51,214 .

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