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North Las Vegas Real Estate Market Report – June 2018

This week the median list price for North Las Vegas, NV is $299,000 with the market action index hovering around 71.  This is an increase over last month’s market action index of 69.  The inventory of resale homes has held steady at or around 349.

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory.  An index above 30 implies Seller’s market conditions. Below 30, conditions favor the buyer.

North Las Vegas Real Estate = Strong Seller’s Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

North Las Vegas Real Estate Median List Price

The market seems to have paused around its high point.  The Market Action Index is a good leading indicator for the durability of this trend.

North Las Vegas Real Estate Price Per Square Foot

The market plateau is seen across the price and value.  The price per square foot and median list price have both been reasonably stagnant.  Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

North Las Vegas Real Estate Inventory

Inventory has been falling in recent weeks.  Note that declining inventory alone does not signal a strengthening market.  Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

North Las Vegas Real Estate Average Days on Market (DOM)

The properties have been on the market for an average of 69 days.  Half of the listings have come newly on the market in the past 28 or so days.  Watch the 90-day DOM trend for signals of a changing market.

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The Jack Woodcock Group, selling Las Vegas Real Estate since 1974!