The Increase of Homes being Sold in the Valley!
As of May 2016, the housing market has fluctuated. The Months of Housing Inventory by Zip Code map below provides a time frame that is factored into how many months, based the sales to listing ratio of the current month, it would take to sell properties in within each zip code. An example of this is that in the 89011 zip code, towards the bottom right of the map, it takes 3.5 months to sell a home where as in zip code 89002 it only takes 1.4 months to sell.
Currently for the month of May there was over 8,850 properties listed, as of the end of May 3,634 properties have closed. This means that 41.06% of all properties that were listed at the beginning of May were sold at the end of May. From April to May there has been a 1.17% increase of homes being sold in Las Vegas. This percentage of months of inventory total suggests that the properties that were sold at the end of the month were roughly listed on the market for 2.4 months before they sold.
For more information and updates on the market visit, Chicago Title.
All information provided by Chicago Title as of June 29, 2016.