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10 Real Estate Stats for Greater Las Vegas August 2016….Homes are selling FAST!

Jenny Adams

She is committed to making your real estate transaction as smooth as possible...

She is committed to making your real estate transaction as smooth as possible...

Feb 6 3 minutes read

Multiple Listing Service of Greater Las Vegas

Monthly Statistics August 2016

Below are some highlights from the August Single Family Residential Sales Statistics:

  1. Total Sales Volume increased to $835,260,015 this month, a 6.7% increase from July's number of $782,810,959 and has risen by 11.6% since August 2015.  
  2. The Average Sales Price this month was $269,265 from $275,929 in July, a 2.4% decrease.  
  3. Average List Price of $328,154 is down from July's number of $314,437.
  4. Total Under Contract decreased by 4.3%. 
  5. Total Unit Sales increased this month by 9.3% going from 2,837 in July to 3102 in August, increasing 8.7% over August 2015.
  6. The Median Sales Price decreased slightly to $235,000.
  7. New Listings increased 1.3% from July.
  8. Total Active Listings of 7,594 is an increase of 3.5% over July's number of 7,338.
  9. 76.1% of all existing single family homes sold within 60 days, consistent with the 2.5 month market absorption rate, making Las Vegas a sellers market.
  10. Cash Sales equaled 25.8% of the homes sold, a decrease from 28.2% August 2015

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Source: Greater Las Vegas Association of REALTORS® 

DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

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