Las Vegas Saw Increased Sales for February 2016
In February 2016, Las Vegas used home sales numbers shot up, even though the prices stayed fairly stable. Buyers purchased 2,112 single-family homes in Las Vegas over the month of February, according to a report from the Greater Las Vegas Association of Realtors.
Median Sales Prices Showing Good Signs
The median sales price of a single family home stood at $220,350 in February, which is up .6 percent from January 2016 and up 7.5 percent from the same period a year earlier. Since June 2015, the median sales price of single-family homes has stayed at around $220,000, which is good news for the Las Vegas real estate market.
The sales numbers in February 2016 shows that the housing market has “weathered the traditionally slow winter months with steadily rising home prices and sales and appears poised for a solid spring sales season,” according to the GLVAR. Hopefully, the numbers will continue to stay near the same level or even increase over the spring and summer months.
Las Vegas Real Estate Market Dependent Upon Number of Factors
The Las Vegas real estate market is dependent upon many different things, including job growth, tourism, commercial real estate, etc. Due to this, it is difficult to pin down where the real estate market is going to head, but all signs are pointing toward some good things.
Whether you are a real estate professional, a buyer, or a seller, you want to keep an eye out on the Las Vegas real estate market ups and downs. This focus will ensure that you are in the know, as far as what you can expect from the market and use it to your benefit.