January 2016 housing market price increase started the year with an increase in sales and prices when compared to the beginning of 2016.
The median home sales price of previously owned single homes was $238,000 in January, up 1.3 percent from December and 8.7 percent from January 2016. Information reported and based on a brand new report from the Greater Las Vegas Association of Realtors.
Increase in Sales and Prices
Housing Market Price Increase
Home buyers purchased 2,144 such houses last month, down 21 percent from December, but up 14.1 percent from last January.
Available 5,852 Vegas houses available on the market, but without offers towards the end of January, down 1.7 percent from December and 21.2 percent from the year past.
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January 2016 Housing Market Price Increase
Housing market price increase real estate information is reported by the GLVAR from its listing service, which mainly consists of formerly owned houses.
It’s uncommon for Vegas home prices to increase in January. Typically January will be among the slowest months for home sales and price increases.
Local home sales have increased due to a variety of variables, including Las Vegas growing population and the improved economy is expanding by about 2 percent per annum.
A total of 41,720 formerly owned houses, condominiums and townhomes sold in Southern Nevada last year, up to 8 percentage from 2015. Reported by GLVAR data services.
January 2016 Housing Market Price Increase
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