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Weekly updates on Southern Nevada Housing Market -11/05/2020
Let’s talk about week 10/22/2020 we had 5,001 homes available on the market and we put 736 homes in escrow. Now we say homes, this chart is only for single family homes. We closed 701 homes and 156 were withdrawn and the median sold price $340,126, median sold price per square feet is $183.37. The inventory continues to shrink and the number of homes in escrow went down a little, but the closing Continue Reading
Weekly updates on Southern Nevada Housing Market -10/15/2020
Let us start with our weekly update and for this week we have 5,094 homes currently available. Now please remember this only single-family homes. It is down by 11 from last week. We still have pretty low inventory still, in the last 7 days we put 865 homes in escrow. And we closed 621 homes and 159 were withdrawn. The median of the sold price is $335,108 it went down a lot from last week, but then Continue Reading
Weekly updates on Southern Nevada Housing Market -10/01/2020
This week we have the total of available 5,117 on the market and please remember these are only single-family homes. In escrow we have 889 homes in contract and that is down by a little from the previous week. Also, inventor went down as well in the last week and we have closed 924 homes that went up a lot, that is a nice number to have. 200 homes have been withdrawn that is a pretty big number Continue Reading
Weekly updates on Southern Nevada Housing Market -09/10/2020
We have seen the loan business / mortgage business it is crazy busy right now and doing a ton of refinance, there is so much business all the way around. John read a headline from CNDC on their website that mortgage lenders are making the most money and being super business and it is true according to John. As soon as we reopened (Las Vegas) and how interest rates fell too, it led to a fire under Continue Reading
Weekly updates on Southern Nevada Housing Market -08/20/2020
We have been tracking single family homes every week since March 2020. Now we are going to share with you, now this week we have currently available 5,241 homes on the market, that is up 15 from last week. In escrow the past seven days we put 883 homes in escrow, we closed 625 single family homes. 171 homes were withdrawn from the market, but that number has not really changed this whole time Continue Reading
Renting vs Buying
One of the main reasons to buy in Las Vegas right now (August 2020) is because the cost of buying is so good right now. Interest rates are at an all time low. Harvey explains in this video about this article he read from Fidelity that reviews this formula; if you take your annual rent, divide it by the price of a home purchase, if that number is less than 20, then you should buy. If the number is Continue Reading
Weekly updates on Southern Nevada Housing Market -07/02/2020
They stop manufacturing R-22 units back in 2010 and no longer allowed to manufacture nor reproduce it. But you can still use it for HVAC units there is a lot of misinformation going around the industry that if you have an older unit that has that R-22 you need to get it replaced as soon as possible. You can actually use R-22 in a unit for the next 10 years. So there is really no rush, EPA said Continue Reading
Weekly updates on Southern Nevada Housing Market -06/25/2020
Let’s talk about what will be happen in the next couple of weeks or months in terms of mortgages as people are coming out of this pandemic. We think it is important for our consumers what would be doable and what would not. If you were furloughed and unable to go to work and do your job, whether you were paid or not or unemployment those things are not relevant. You are giving the title of being Continue Reading
Weekly updates on Southern Nevada Housing Market -06/18/2020
Currently available we have 5,771 single family homes and last week we had 6,056 we went down by 285 homes. We put 941 homes in escrow in the past seven days, we closed 497 in the last seven days. There are 188 homes withdrawn from the MLS and that is a fairly number to have for withdraws. The median days on the market are 39 days and have been the same as the last week. Stay tuned to Continue Reading
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