Nevada Housing Market Update, March 2019, The Lied Institute for Real Estate Studies.
The Lied Institute for Real Estate Studies was established in 1989 by the Lee Business School at the University of Nevada, Las Vegas to foster excellence in real estate education and research.
Nevada Housing Market Update, March 2019, a summary of their findings:
- Carson City County continues to see the strongest growth of any major
region in existing single-family home prices as prices increased 20
percent year over year. The Las Vegas metropolitan area saw prices
increase 8 percent while Washoe County saw prices increase 2
percent. Laughlin saw an unusually large increase of 16 percent.
Mesquite saw prices increase 4 percent.
- Boulder City and Summerlin have recently seen the largest year over
year price increases of anywhere in the Las Vegas area. Prices in
Boulder City increased over 28 percent year over year. Summerlin, the
area with the next largest increase, saw prices increase 12 percent. No
major region in the Las Vegas metropolitan area saw a year over year
decrease in single-family home prices.
- All areas of the Las Vegas metropolitan area experienced a year over
year increase in time on the market. Boulder City homes spend the
longest time on the market, on average, at 97 days.
- New single-family home prices are up more than 20 percent year over
year in Washoe County and the Las Vegas metropolitan area.
- New single-family home listings typically increase each year in March.
The Las Vegas metropolitan area is the only area where new single-family home listings are up year over year.
- The distress share is up year over year in all areas except Mesquite.
Carson City County and the Las Vegas metropolitan area have the highest
share of single-family homes sold under distress (4 percent).
- Average condominium prices increased about 9 percent year over year in
both the Las Vegas area and Washoe County.
- Boulder City also saw condominium prices increase more year over year
than anywhere else in the Las Vegas area (22 percent). North Las Vegas
was the only area in Las Vegas where condominium prices decreased year
over year (2.5 percent).
To read the entire Nevada Housing Market Update for 2019 please click on the link: Nevada Housing Market Update – March 2019
For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies
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