December 2021 Las Vegas Real Estate Market Update

Dated: December 7 2021

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December 2021 Las Vegas Area Real Estate Market Update

HELLO, NEIGHBOR!

Oh how I love the holidays! The spirit of giving and friendship, love, joy, all

of it! One of my favorite things is when communities like ours come

together to support those in need, through random acts of kindness. 

Here are the top things you need to know as a Las Vegas Area Homeowner.

MEDIAN SOLD PRICE IS STILL INCREASING

Currently our Median Sold Price is at $420,000, up $10,000 from last

month! Every single month this year, we've seen an increase in Median Sold

Price in Single Family Homes, except one month, where we stayed

the same. 

That sort of increase is incredible; so incredible that sadly, it cannot last

forever. I'm truly shocked that we've seen such consistent increase in

pricing every single month. When I say shocked, I mean that typically with

any appreciating market, there's a few dips and plateaus, as prices work

their way up. But not this year ... not in 2021! Of course, a typical home

appreciation year averages about 5%, and we had over 20% this year! It

goes to show truly how fortunate our real estate market has been this year.

The increase in pricing may be slightly inflated due to low interest rates,

which are slowly inching their way upwards. But, from a buyer's perspective,

it is still a great time to buy, even at an elevated price point. Take a look at

this chart below from Keeping Current Matters.

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HYPER-LOCAL REAL ESTATE: YOUR NEIGHBORHOOD MAY BE DIFFERENT THAN OUR MEDIANS

We mention this often, because it is SO TRUE! I'd like to show a quick

example of this. Here is a chart showing the Median Sales Price for the

Entire MLS, zip code 89166 which is in Northwest Las Vegas, 89052 which is

in Henderson and 89103 which is in Spring Valley. The Entire MLS takes an

average of all the zip codes in all areas of the Greater Las Vegas valley. But,

when we deep dive, even as broad as a zip code, you can see drastic

changes. Now, think about all the different types of neighborhoods located

in a zip code. I'll bet you are really seeing now how different it is when we

explore neighborhood by neighborhood. 

If you are considering a move, it's best to reach out to a local real estate

professional that you trust. 

To speak with a JPAR Elite real estate professional, whether you are just

researching options, or have specific questions, we're happy to help. Never

any obligation, we'll connect you with your hyper local real estate expert.

Or you can directly contact the agent who sent your Neighborhood Real

Estate Market Report.

(702) 222-3366 or hello@jparelite.com

SINGLE FAMILY HOME STATS

From our JPAR Elite family to yours, we wish you a happy holiday season! May 2022 be your best year yet!!

Blog author image

Shauna R Gut

Shauna R Gut is a native to Las Vegas who has seen the valley grow over the years. She helps families who have outgrown their home, physically, financially or otherwise, purchase a home that better f....

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