Breaking Down the 3rd Quarter 2019 Housing Summary for the Nevada Area
Hello everyone! Today I will be breaking down the Third Quarter 2019 Housing Summary for Las Vegas, North Las Vegas, Henderson, and Boulder City.
If you have any questions that are more specific to a certain area of the valley, please feel free to reach out to me directly to discuss the statistics of your chosen area. Let’s start by analyzing the price comparisons from 2018 to 2019.
When comparing average sale prices for the months of January to September of last year (2018) to the current year (2019), you will see that prices have gone up by some degree all across the board.
With the highest percentage increase of price occurring during March of this year (21.6%), you can see how the market began to take a stagnant turn as we transitioned from Spring into Summer.
The latter months of this year have been within a 10% margin of the home sale prices of last year, showing that despite common current belief, the 2019 Nevada real estate market is still at par with most of the 2018 statistics.
The divergence of market health can be more clearly seen when we take a look at the number of sales comparisons between 2018 and 2019. Here, you can see that January, February, March, and June, all dropped below the average sale percentage of the previous year. While the other noted months did not drastically increase, they did remain within a 5% margin of last year.
In summary, as far as the third quarter goes, our Nevada real estate market is not far off from what we were looking at last year. Given there were different conditions, this data proves that home prices are remaining steady and sales, for the most part, are as well.