Las Vegas recorded a 6.4 percent price increase in house rates with 2015 home sales eclipsing its 2014 performance.
In a post by World Property Journal, the Greater Las Vegas Association of Realtors (GLVAR) reported a 6.4 percent increase in the prices of homes in the city for 2015. GLVAR announced that the average price range of single-family homes that were sold last year was $217,000 and they were listed in Southern Nevada using Multiple Listing Service (MLS). However, from August to November the price went up to $220,000 and stayed steady for four months until it went down. Condominiums and townhomes prices also went up 12.3 percent compared to the previous year. Units sold in December had a published rate of $117,900.
Scott Beaudry, 2016 GLVAR president said, "I think 2105 will be remembered as the year the local housing market stabilized after the roller-coaster ride we had been on during the past decade or so. I think most people prefer the more steady and more predictable housing market we had last year. We also sold more homes in 2015 than we did the previous year."
GLVAR also reported that for 2015 the total number of single-family homes, condos, and townhomes plus high-rise condo units sold went up to 38,578 compared to 2014's 35,806 units.
In a report by Review Journal, Beaudry, who is now head of the 12,500 realtors who comprise the GLVAR, said that people who want to do real estate deals, either to buy or sell, can expect things to be virtually the same as in 2015 in terms of housing market behavior. He noted that local prices have remained steady in the last few months despite a lower number of houses for sale. He added that the same can be expected for other types of homes being sold in the market. It will benefit the market that people can now have the option to own a property without paying too much for a single-family home, he said.
