PowerPoint Presentationall real estate agents licensed in Nevada, but is not available to the...
Transcript of PowerPoint Presentationall real estate agents licensed in Nevada, but is not available to the...
Greater Las Vegas Association of REALTORS® | Page 1
January 2020
December 2019
2020January 2020
Greater Las Vegas Association of REALTORS® | Page 2
January 2020
# Units Sold # New Listings # Units Available
2,283 3,097 4,906 +25.2% -18.6% -32.4%
Median Price Median Price Effective Availability
$305,000 $332,906 2.1 Months +1.7% +5.7% -46.0%
# Units Sold # New Listings # Units Available
592 852 1,418 +22.8% -13.0% -16.7%
Median Price Median Price Effective Availability
$175,000 $180,000 2.4 Months +2.9% +2.9% -32.2%
Housing Snapshot
Notes: Growth rates are compared to the prior year. Availability reflects inventory excluding those with offers.
Greater Las Vegas Association of REALTORS® | Page 3
January 2020
Market Statistics
Single-Family Units Condo/Townhouse Units
See notes, methodology and definitions on page 14.
Current ValueJanuary 2020
Growth FromDecember 2019
Growth FromJanuary 2019
Current ValueJanuary 2020
Growth FromDecember 2019
Growth FromJanuary 2019
Units SoldNo. of Units Sold 2,283 -12.5% +25.2% 592 -2.1% +22.8%Median Price of Units Sold $305,000 -2.6% +1.7% $175,000 -1.7% +2.9%Average Price of Units Sold $356,402 -3.6% +1.4% $197,169 +2.6% +7.0%
New ListingsNo. of New Listings 3,097 +54.8% -18.6% 852 +55.8% -13.0%Median Price of New Listings $332,906 +2.8% +5.7% $180,000 +0.6% +2.9%Average Price of New Listings $451,413 +6.4% +9.5% $202,849 +3.9% +7.2%
Availability (Including Offers)No. of Units Available 8,862 -0.2% -16.0% 2,391 +2.8% -5.2%Median Price of Units Available $341,450 +1.0% +5.1% $176,000 +0.6% +4.8%Average Price of Units Available $517,303 +1.3% +9.5% $202,569 +0.2% +7.8%
Availability (Excluding Offers)No. of Units Available 4,906 -11.4% -32.4% 1,418 -8.8% -16.7%Median Price of Units Available $367,950 +3.6% +8.9% $175,000 +0.1% +4.2%Average Price of Units Available $617,711 +5.3% +18.9% $208,252 +1.2% +10.0%
Effective Months of Availability 2.1 +1.2% -46.0% 2.4 -6.8% -32.2%
Time on Market for Units Sold January 2020 December 2019 January 2019 January 2020 December 2019 January 20190 - 30 days 46.1% 48.7% 48.3% 44.9% 47.1% 47.5%31 - 60 days 22.7% 22.8% 23.7% 21.3% 23.1% 23.7%61 - 90 days 14.1% 12.8% 14.6% 12.7% 12.9% 14.1%91 - 120 days 6.7% 6.9% 6.7% 7.8% 7.1% 7.9%121+ days 10.3% 8.7% 6.6% 13.3% 9.8% 6.8%
Greater Las Vegas Association of REALTORS® | Page 4
January 2020
Single-Family Market Trends
2,283 Units-12.5% vs. Prior Month+25.2% vs. Prior Year
0
1,000
2,000
3,000
4,000
2013 2014 2015 2016 2017 2018 2019 2020
Number of Closings
$305,000-2.6% vs. Prior Month+1.7% vs. Prior Year
$0$50,000
$100,000$150,000$200,000$250,000$300,000$350,000
2013 2014 2015 2016 2017 2018 2019 2020
Median Closing Price
Greater Las Vegas Association of REALTORS® | Page 5
January 2020
Single-Family Market Trends
3,097 Units+54.8% vs. Prior Month
-18.6% vs. Prior Year
Number of New Listings
4,906 Units-11.4% vs. Prior Month-32.4% vs. Prior Year
Availability(Excl. offers)
0
1,000
2,000
3,000
4,000
5,000
2013 2014 2015 2016 2017 2018 2019 2020
0
2,000
4,000
6,000
8,000
10,000
2013 2014 2015 2016 2017 2018 2019 2020
Greater Las Vegas Association of REALTORS® | Page 6
January 2020
Single-Family Market Trends
2.1 Months+1.2% vs. Prior Month-46.0% vs. Prior Year
Effective Months of Availability
46.1% of Closings48.7% vs. Prior Month48.3% vs. Prior Year
Time on Market: 30 Days or Less
0.0
1.0
2.0
3.0
4.0
5.0
2013 2014 2015 2016 2017 2018 2019 2020
0%
20%
40%
60%
80%
2013 2014 2015 2016 2017 2018 2019 2020
Greater Las Vegas Association of REALTORS® | Page 7
January 2020
Condo/Townhouse Market Trends
592 Units-2.1% vs. Prior Month+22.8% vs. Prior Year
0
200
400
600
800
1,000
2013 2014 2015 2016 2017 2018 2019 2020
Number of Closings
$175,000-1.7% vs. Prior Month+2.9% vs. Prior Year
$0
$50,000
$100,000
$150,000
$200,000
2013 2014 2015 2016 2017 2018 2019 2020
Median Closing Price
Greater Las Vegas Association of REALTORS® | Page 8
January 2020
Condo/Townhouse Market Trends
852 Units+55.8% vs. Prior Month
-13.0% vs. Prior Year
Number of New Listings
1,418 Units-8.8% vs. Prior Month-16.7% vs. Prior Year
Availability(Excl. offers)
0
200
400
600
800
1,000
1,200
2013 2014 2015 2016 2017 2018 2019 2020
0
500
1,000
1,500
2,000
2,500
3,000
2013 2014 2015 2016 2017 2018 2019 2020
Greater Las Vegas Association of REALTORS® | Page 9
January 2020
Condo/Townhouse Market Trends
2.4 Months-6.8% vs. Prior Month-32.2% vs. Prior Year
Effective Months of Availability
44.9% of Closings47.1% vs. Prior Month47.5% vs. Prior Year
Time on Market: 30 Days or Less
0.0
1.0
2.0
3.0
4.0
5.0
6.0
2013 2014 2015 2016 2017 2018 2019 2020
0%
20%
40%
60%
80%
100%
2013 2014 2015 2016 2017 2018 2019 2020
Greater Las Vegas Association of REALTORS® | Page 10
January 2020
MLS
Are
as: U
rban
Val
ley
Greater Las Vegas Association of REALTORS® | Page 11
January 2020
Area No. of Units Sold Median Sold Price Average Sold Price No. of Units Sold Median Sold Price Average Sold Price101 - North 33 $200,000 $205,170 1 $136,000 $136,000102 - North 142 $319,450 $356,581 3 $257,000 $255,167103 - North 306 $284,950 $298,490 20 $169,000 $184,434201 - East 30 $202,750 $189,863 7 $95,000 $86,771202 - East 45 $220,000 $218,036 18 $109,450 $116,200203 - East 48 $238,750 $277,333 22 $141,875 $140,990204 - East 89 $241,000 $257,662 21 $125,000 $142,934301 - South 40 $260,649 $259,540 39 $165,000 $172,481302 - South 58 $260,000 $276,718 33 $129,500 $129,302303 - South 117 $318,000 $357,824 23 $225,900 $221,157401 - North West 21 $250,000 $317,086 5 $110,000 $109,900402 - North West 76 $239,500 $246,957 23 $133,000 $133,000403 - North West 54 $274,450 $296,763 47 $145,000 $148,246404 - North West 92 $402,500 $509,835 33 $300,000 $300,773405 - North West 194 $307,750 $378,823 28 $175,000 $181,221501 - South West 38 $325,000 $358,986 24 $147,495 $156,420502 - South West 94 $386,500 $358,986 22 $212,000 $430,758503 - South West 97 $340,000 $374,584 71 $175,000 $200,002504 - South West 121 $320,000 $380,429 25 $177,000 $185,816505 - South West 127 $330,000 $380,429 9 $250,000 $239,633601 - Henderson 20 $325,000 $382,900 10 $210,000 $196,145602 - Henderson 69 $335,000 $364,945 31 $225,500 $222,938603 - Henderson 44 $374,500 $379,886 13 $250,000 $237,432604 - Henderson 38 $322,500 $317,134 5 $215,000 $204,500605 - Henderson 63 $318,000 $365,871 13 $204,000 $203,245606 - Henderson 144 $417,500 $551,809 29 $224,000 $227,825
Housing Update by MLS Area: Urban Valley
Single-Family Units Condo/Townhouse Units
Greater Las Vegas Association of REALTORS® | Page 12
January 2020
MLS
Are
as: O
utly
ing
Are
a
Greater Las Vegas Association of REALTORS® | Page 13
January 2020
Housing Update by MLS Area: Outlying Area
Area No. of Units Sold Median Sold Price Average Sold Price No. of Units Sold Median Sold Price Average Sold Price701 - Boulder City 21 $371,600 $498,460 5 $218,000 $209,830702 - Boulder City 2 $385,000 $385,000 4 $287,450 $297,975800 - Mesquite 1 $315,000 $315,000 1 $140,000 $140,000801 - Muddy River (Moapa, Glendale, Logandale, Overton) 7 $250,000 $340,357 - $0 $0
802 - Mt. Charleston/Lee Canyon 1 $737,000 $737,000 - $0 $0803 - Indian Springs/Cold Creek 2 $258,250 $258,250 - $0 $0804 - Mountain Springs 1 $473,040 $473,040 - $0 $0805 - Blue Diamond - $0 $0 - $0 $0806 – State Line/Jean/Goodsprings - $0 $0 - $0 $0807 - Sandy Valley 1 $156,300 $156,300 - $0 $0808 - Laughlin 1 $199,000 $199,000 5 $183,180 $152,180809 - Other Clark County - $0 $0 - $0 $0810 - Pahrump 43 $245,000 $246,139 1 $89,000 $89,000811 - Nye County - $0 $0 - $0 $0812 - Lincoln County 2 $157,050 $157,050 - $0 $0813 - Other Nevada 2 $182,500 $182,500 1 $1,974,000 $1,974,000814 - Amargosa Valley - $0 $0 - $0 $0815 - Beatty - $0 $0 - $0 $0816 - White Pine County 6 $149,950 $124,150 - $0 $0817 - Searchlight - $0 $0 - $0 $0900 - Outside Nevada - $0 $0 - $0 $0
Single-Family Units Condo/Townhouse Units
Greater Las Vegas Association of REALTORS® | Page 14
January 2020
Source: Greater Las Vegas Association of REALTORS® // (702) 784-5000 // 6360 S. Rainbow Blvd.; Las Vegas, NV 89118www.lasvegasrealtor.com
Territorial Jurisdiction: 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®
Media Contact Information: George McCabe, B&P Public Relations // (702) 325-7358 // [email protected]
Methodology and 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.
Definitions:Units Sold:
New Listings:
Availability:
Availability Including Offers:
Availability Excluding Offers:
Effective Months of Inventory:
Actual closings/recordings (not contracts) during the reporting periodUnits that were initially listed in the MLS for sale during the reporting periodThe number of units available at the end of the reporting periodUnits listed as available that have pending or contingent offers in placeUnits listed as available that do not have any pending or contingent offers in placeReflects the number of units available (excluding offers) divided by the number of sales during the reporting period
Notes, Methodology and Definitions
Greater Las Vegas Association of REALTORS® | Page 15
January 2020
Thomas L. BlanchardPresident
Aldo M. MartinezPresident Elect
Mark W. SivekVice President
Jillian M. BatchelorTreasurer
Janet S. CarpenterPast Chairperson
Robin CivishCALV President
Chantel E. TilleyMember
Timothy KiernanMember
Shanta PattonMember
Merri PerryMember
Shawn C. CunninghamMember
George KypreosMember
Lee K. BarrettMember
Stephanie GrantMember
Randy K. HatadaMember
Robbin L. BaloghStaff Liaison
Wendy M. DiVecchioCEO
GLVAR Board of Directors2020 About GLVAR
GLVAR was founded in 1947 and provides its more than 14,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, GLVAR is the largest professional organization in Southern Nevada. Each GLVAR member receives the highest level of professional training and must abide by a strict code of ethics.
6360 S. Rainbow Blvd.Las Vegas, Nevada 89118
(702) 784-5000
www.LasVegasRealtor.com