Las Vegas 2017 - Buying A House In

: The median sales price for single-family homes reached approximately $260,000 by mid-year , a 10.2% increase from the previous year. By March 2017, the median resale price had already hit $242,000.

: Job growth and diversification in the valley strengthened buyer confidence, leading Realtor.com to rank Las Vegas as one of the "hottest" markets of the year. buying a house in las vegas 2017

The Hottest Real Estate Markets of 2017: Who Gained, Who Fell : The median sales price for single-family homes

: Builders in Clark County saw a banner year, with 5,762 new-home sales closed through August, an 18.8% increase over the same period in 2016. The median price for new homes reached $342,973 by late summer. Inventory Challenges The Hottest Real Estate Markets of 2017: Who

: Availability tumbled throughout the year. By December, there were only 3,827 single-family homes on the market without offers—a 35.7% drop compared to December 2016.

: The "effective availability" for homes sat at a tight 1.8 months , while the condo/townhouse market was even more constrained at 1.1 months . For context, a six-month supply is typically considered a "balanced" market. Driving Factors Several economic conditions fueled this "hot" market: