10 Real Estate Stats for Greater Las Vegas May 2016….is it a buyers market or a sellers market?
Multiple Listing Service of Greater Las Vegas
Monthly Statistics May 2016
Below are some highlights from the May Single Family Residential Sales Statistics:
- Total Sales Volume increased to $744,476,307 this month, a 4.3% increase from April's number of $713,854,635 and has risen by 10.1% since May 2015.
- The Average Sales Price this month was $274,917 from $253,320 in April, a 8.5% increase.
- Average List Price of $336,550 is down 0.5% from April's number of $380,457.
- Total Under Contract increased by 2.36%.
- Total Unit Sales decreased this month by 3.9% going from 2,818 in April to 2,708 in May decreasing 1.6% over May 2015.
- The Median Sales Price increased to $229,250.
- New Listings decreased 1.8% from April.
- Total Active Listings of 7,626 is a increase of 5.7% since April's number of 7,357.
- 71.2% of all existing single family homes sold within 60 days, consistent with the 2 month market absorption rate, making Las Vegas a sellers market.
- Cash Sales equaled 28.2% of the homes sold, a decrease from 29.1% May 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®.