The number of homes that sold in October rose from 5,620 in September to 5,980 while the number of new listings on the market increased from 7,662 to 7,884 . The average price decreased slightly, from $298,691 to $296,726.
Overall, the market is chugging along nicely in a normal seasonal manner. Generally speaking, we wouldn’t be surprised to see the number of new listings and the number of homes sold to decrease during the holidays, as people are less inclined to want to move during this time. The fact we are seeing increased activity is an indication of the robust health of our market. The Federal Reserve recently dropped rates, meaning that mortgage interest rates remain low so it’s still a good time for buyers to make their move.
Whether you are thinking about buying or selling, contact your Las Vegas Home Specialists and let us show you how we can help you make the best deal!
Information is deemed reliable but not guaranteed.