Falling Las Vegas home prices could come into play as many home buyers are still feeling the heat when it comes to the limited housing inventory seen throughout much of Southern Nevada, the market overall seems to have cooled down a bit as we approach the end of 2016.
According to recent reports, the median price of single-family homes in the Las Vegas market has falling Las Vegas home prices dropped to $233,250, which is down from $234,000 just one month prior. The decline marks the third straight month of home prices falling, and it’s also now at the lowest level since all the way back to February.
Falling Las Vegas Home Prices – Home Buyers – 702-508-8262
The good news, however, is that the median price of $233,250 is still over 5% higher than the median price in October of 2015, and it’s also worth noting the overall sales in October were also 6.7% higher compared to the same month last year.
Traditionally, the fall usually brings somewhat of a falling Las Vegas home prices market slowdown in Las Vegas anyway, especially as kids are starting school again and potential home buyers schedules get a little busier.
Outside of the dwindling real estate inventory, which has been a sore in Las Vegas real estate market conditions for months now, we’re still in a very good place as it relates to housing all throughout the Vegas area. And with falling Las Vegas home prices continuing to drop a bit, now could just be a great time to to be a home buyer if you’re still thinking about trying to make a move before the new year.
Call 702-508-8262 and ask to speak with Falling Las Vegas Home Prices Robert Ratliff at Ratliff Realty Group RE/MAX. Top world class property for sale branding Internationally. Combining our marketing with RE/MAX and our website “Las Vegas Real Estate Authority” and we have you covered!