RealtyTrachad good news for Las Vegas homeowners. Sellers whose houses closed in the last eight weeks booked an average gain of 23 percent or $36,000 above their purchase price, on average. This profit margin was the highest locally since October 2007, when sellers enjoyed an average 31 percent gain.
The median price (half are higher and half are lower) of single-family homes in May (we are still waiting for the June numbers) was $229,250. The median price hovered around $220,000 for the last year.
May's median price is a jump of 3.9 percent from April and 8.5 percent over May 2015 prices, according to the Great Las Vegas Association of Realtors.
A warning to sellers: YOUR house may not be worth the 3.9 percent increase. One second ago there were 3,113 homes listed on the MLS that did NOT have offers; that's one-third of the 9,567 total. Buyers these days are smart. They have a good idea what homes are selling for. If your house is overpriced, it will sit. Be realistic if you want out!
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
First, the facts:The median price of resale homes in Las Vegas hi
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