Past, Present & Future ??? during Pandemic

• March 5    -   1st Reported Case of COVID-19 in Nevada 
• March 12  -   Governor Sisolak Declares State of Emergency
• March 13  -   Last Day of School for Students
• March 18  -   The Las Vegas Strip is Shut Down
•            ***    Fast Forward  80 Days    ***
• June 4       -   The Las Vegas Strip is scheduled to Re-Opens

The question we get is always,

"How is this Affecting the Real Estate Market?"

The 3 Images below show Median Price and Inventories for

Henderson, Las Vegas and North Las Vegas

On Friday March 13th and then on Friday May 29th

All 3 Areas of Town had Rising Prices and Dropping Inventory.

Though they held strong until Mid April, they have since changed directions.

The Las Vegas Metropolitan Area was an Overwhelming Sellers Market,

It has now becoming more of a Buyers Market.

With Interest Rates at Historical Lows, 

Buyers should take advantage of this Short Term Opportunity.

 

Henderson

Median Home Sales Price 

on Friday March 13th was $475,000 and was Going Up 

Sales Prices Peaked in the Middle of April to $484,000

And have Since Dropped to $474,500

Inventory of Homes

on Friday March 13th was 897 and was Going Down

Inventory Hit a Low in the Middle of April of  868

And has been Growing and is now at 1,017

Las Vegas

Median Home Sales Price 

on Friday March 13th was $371,000 and was Going Up 

Sales Prices Peaked in the Middle of April to $385,000

And have Since Dropped to $382,000

Inventory of Homes

on Friday March 13th was 3,577 and was Going Down

Inventory Hit a Low in the Middle of April of  3,413

And has been Growing and is now at 3,799

North Las Vegas

Median Home Sales Price 

on Friday March 13th was $299,500 and was Going Up 

They have continued to Gradually rise to $301,500

Showing Strength in Affordable Homes.

Inventory of Homes

on Friday March 13th was 568 and was Going Down

Inventory Hit a Low in the Middle of April of  538

And has been Growing and is now at 600