Coldwell Banker Premier Realty

November Residential Market Report

A look into October's Data
Posted: November 30, 2015 by John McClelland

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The crisp weather has arrived in Las Vegas and with it came more news of stability in our real estate market. Enjoy the November Real Estate Report and the Monthly Minute Market Update video below.

As we all prepare to close out 2015, it’s a great time for a real estate check-up – whether you’re relocating, considering selling, buying or just want to know what your home is worth after a year’s worth of appreciation.  Simply reply to this email to schedule a time to get together. 

In this season of thanks, we want to acknowledge and share our appreciation to our valued clients who continue to make Coldwell Banker Premier Realty the go-to company for Las Vegas Valley Real Estate.  We wish you all a warm and wonderful holiday season!
lasvegashomes.com
monthly minute market update
Watch the monthly minute market update featuring Bob Hamrick, Chairman and CEO.
MARKET STATS
For the month of October, single family home closing numbers mimicked the same period last year, increasing by just one percent. The velocity of price change has flattened in recent months allowing improving economic fundamentals a chance to catch up with somewhat surprising home price increases during most of 2015. Interestingly, the inventory build-up that we typically see this time of year has begun to subside, with the number of listings not under contract essentially flat while new listings decreased nearly four percent from last month. Despite the seasonal moderation of demand, a relatively lower level of inventory implies that if the stored energy of demand returns in the spring, pricing strength is likely to return.
SINGLE FAMILY
CONDOMINUM/TOWNHOME
What does the interest rate mean to you?
This month we review the possibility of a rate increase by the Federal Reserve. Our general sense is that the fundamentals we are observing in the job market, the rental market and where home prices stand today relative to incomes is more important than a moderate increase in interest rates.
SINGLE FAMILY
DAYS ON MARKET
AVERAGE & MEDIAN (3 MONTH MOVING AVERAGE)
CONDO | TOWNHOME
DAYS ON MARKET
AVERAGE & MEDIAN (3 MONTH MOVING AVERAGE)
SINGLE FAMILY
SALE PRICE
AVERAGE & MEDIAN
CONDO | TOWNHOME
SALE PRICE
AVERAGE & MEDIAN
SINGLE FAMILY
AVAILABLE & CLOSED
INVENTORY
CONDO | TOWNHOME
AVAILABLE & CLOSED
INVENTORY
Source: Mlxchange, Coldwell Banker Premier Realty. *Bank owned listings not under contract. Note: Averages tend to be greatly influenced by outliers. Condominiums/townhomes exclude high-rises.
The information and opinions in this report are believed to be reliable and has been obtained from sources believed to be reliable. Coldwell Banker Premier Realty makes no representation as to the accuracy or completeness of such information. The opinions expressed in the report constitute the judgment of the authors only and may not reflect the opinion of Coldwell Banker Premier Realty. This report is provided for informational purposes only and does not constitute investment advice. This report may not be circulated or copied without our prior written consent.


  

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