Las Vegas Market Trends 2019 -March

For March of 2019 we use our February data and this month we currently have 7,726 available homes on the market this is only for single family homes. Currently have 3,586 homes in escrow and 2,085 that have sold in the last 30 days. That is an absorption rate of 3.71 again, absorption rate is the number of months it is going to take to sell the existing inventory based on the current rate of sale. If you take the 7,726 you divide it by 2,085 that’s says its going to take 3.71 months to sell those 7,726 homes. Last month the numbers were similar all though I would say the absorption rate has come down dramatically from last month it was almost up to 5 it was at 4.73 in absorption rate. When we look and compare to last year it gets interesting here guys. Last year we had 4,076 homes on the market and the absorption rate 1.64. The next chart that we mention is the days on market for single family homes. What you guys will end up noticing on this pie chart the number of homes over 120 days on the market that is a lot almost 1,600 home are on the market. Want to learn more about the Las Vegas Market? Please contact us more information! Thanks for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/