The Las Vegas real estate market is still moving forward at a strong and steady pace. The highest demand continues to be in the $249K-$500K segment comprising close to 60% of the total sales volume.
Sales volume for single family homes in the luxury segment ($750K+) has been very strong, up almost 30% YTD through the 3rd quarter as compared to the same time last year.
The influx of residents from California, along with those who share higher state tax rates, continues as they seek out our favorable tax climate, cost of living, and quality of life. We also are still seeing lots of interest in second homes and vacation property tied to our professional sports locations by the Las Vegas Strip.
With the three interest rate increases so far this year and another slated for the 4th quarter, we are seeing a slow-down in the velocity of sales in the market, especially in the under $500K segment... Learn More on page 2!
