SalesTraq | Residential Resale & Foreclosure Report | August 2017

 

 

 

 

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August 2017

The Southern Nevada resale housing market continued to trend positively through August 2017. Single family median prices reached a high of $260,000, rising 10.6 percent from the value posted one year ago. Single family closings reached 3,309 (up 6.7 percent from a year ago) while effective availability fell to 1.7 months (down 32.5 percent). The condo/townhouse market followed a similar pattern. Price gains and improved balance sheets are resulting in fewer foreclosure volumes, which nearly halted in August. The local economy appears to be ramping up rather than slowing. Major investments taking place throughout the valley are driving demand for more workers, which is translating into elevated demand in the housing market.

 

 
 

 

  

 

Note: The Residential Resale & Foreclosure Report is a monthly publication of SalesTraq that is provided on a complimentary basis to our clients and colleagues.  This report is not a replacement for our monthly FastFacts newsletter that provides a more comprehensive review of residential market activity, including new home closings, permitting volumes, detailed resale sales data by transaction type, non-MLS sales transactions and other industry data and analysis.

 

Resale market information in this publication is sourced to the Greater Las Vegas Association of Realtors® based on transactions reported in the Multiple Listing Service (MLS). These exclude transactions that do not involve Realtors® or others not reported in the MLS.  Foreclosure information is sourced to Clark County Recorder's Office. Information contained herein has been obtained from various sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

 

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