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Here is what happened in the Las Vegas Real Estate Market for the week of Nov. 18th to Nov. 24th with Brendan from The Brendan King Group @ REAL.
Back to under 1 month of supply | 7-days at a glance, 22 days on market, 3.6 weeks supply, 500 new inventory, 2,934 active listings, 815 weekly sales, 922 under contract, $506,149 average weekly sales, and the most expensive home sold this week was $6,997,000.
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Brendan King
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The Brendan King Group
Office: 702-625-3457
Email: info@kingvegashomes.com
Website: https://www.kingvegashomes.com/
Real Broker, LLC
7997 W. Sahara Ave.
Las Vegas, NV 89117
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This is transcribed (accuracy not guaranteed)
Brendan King (00:06): Hey, what's going everybody. It's Brendan King from theBrendan King Group at Rio Brokerage. And this is your Monday market update forNovember 18th through the 24th. Hope everybody had a great Thanksgiving andHappy Hanukah. I think today is day two, is that correct? Day two.
Speaker 3 (00:23): [inaudible 00:00:23].
Brendan King (00:23): Yeah. Day two of Hanukah, Happy Hanukah. I ate a ton ofTurkey, I'm sure the rest of you did and especially smashed the mashed potatoesfor sure. But wanted to give you an update on how the market is going. I thinkyou guys are pretty aware after the last couple weeks. It's a little bit morethe same. So, let get started. So, we're at a hundred percent on average oflist price received. Average days on market is still 22 days, which is the sameas last week, even after the holiday. And then average weeks of supply is 3.6weeks, which is actually down from 4.2 from last week. So, we're kind of seeinga little more of the same supply tends to go up this time of year to be honest,usually a lot less sales, a little more inventory, or it hovers around thesame. But yeah, we're actually we've dropped in supply to 3.6 weeks again, asyou all know. A typical neutral market is about five to six months of inventoryand we're at 3.6 weeks still.
Brendan King (01:25): A little more info, so new inventory is 500 homes on themarket for new inventory compared to 6022 last week. Active listings is 2,934,which is down from last week of 3030. Weekly sales 815, which is actually upquite a bit from 725 last week. And the under contract homes this week were922, pretty similar to the week before. Average weekly sales price, 506,149 andthe most expensive homes sold was $6, 997,500. So, yeah a little more of thesame. We're keeping an eye on this every week. We've got a spreadsheet that wejust keep adding to and adding to in case we see some sort of data shift. So,just know that we're always on top of it, we're always on the pulse if there isany drastic change, we'll absolutely be the first to let you guys know. And ofcourse, don't forget if you text market to 702-553-1955 we'll send you thisreport every single week and also the video with the update and information.702-553-1955. Don't forget to text market. And again, Happy Thanksgiving, HappyHanukkah and we'll see you guys next week. Have a go one.
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