The median price of existing single-family homes sold during June through its Multiple Listing Service (MLS) increased to $257,373. That was up 2.9 percent from May and up 9.5 percent from June 2016. Meanwhile, the median price of local condos and townhomes sold in June was $128,000, down 7.2 percent from May, but up 11.3 percent from June 2016.
By the end of June, GLVAR reported 5,174 single-family homes listed for sale without any sort of offer. While up 4.1 percent from May, that’s down 27.1 percent from one year ago. For condos and townhomes, the 639 properties listed without offers in June were up 1.4 percent from May, but still represented a 51.9 percent drop from one year ago.
Meanwhile, local home sales continue to increase. The total number of existing local homes, condos and townhomes sold in June was 4,368, up from 3,957 in June 2016. Compared to one year ago, sales were up 10.3 percent for homes and up 10.6 percent for condos and townhomes.
Total sales so far in 2017 continue to outpace 2016, when 41,720total properties were sold in Southern Nevada. That was more than the 38,577 properties sold during 2015. It was also more total sales than in 2014, but fewer than each year from 2009 through 2013.
27.2 percent of all local properties sold in June were purchased with cash, up slightly from 27.0 percent in June 2016. That’s well short of the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still more active in Southern Nevada than in most markets, but that their influence has generally been declining.
Author:Zoran Dobrijevic Phone: 702-477-9133 Dated: July 8th 2017 Views: 92 About Zoran: Zoran knows that Choosing a top-notch real estate agent and taking their advice and guidance can ma...
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