Single family home sales seem to be on the uptick on the Nevada side of the border. 1st quarter sales have increased from a total of 24 in 2016 from a total of 19 in the same period in 2015. The median sales price is lower in 2016 though. It is at $764,500 in 2016 but was at $1,245,000 last year in the first quarter. In Nevada it is easy to get skewed numbers though if there is one big ticket house that sells.
Currently there are 82 homes on the market on the Nevada side of the lake. The median list price is at $1,662,500 but that also is a slightly skewed number as there are 3 very high end listings currently on the market priced between $25,000,000-$60,000,000.
There are 17 single family homes in pending status currently which gives us about a five month supply of housing inventory which translates into a very healthy market.
For condo stats on the Nevada side – There are currently 17 homes in pending status with a total of 46 on the market. This is only a 2.7 month supply of condos on the market. This amount of low condo inventory translates into a market that favors the seller. The median price of the condos on the market is sitting at $382,500.
This uptick in the NV housing market is also reflected in the amount of sold condos for the 1st quarter. There were 15 condos that sold this first quarter of 2016 with the median sold price at $337,000. Last year we only had 7 condos that had sold in the first quarter of 2015 and the median sold price then was $295,000. If we continue on this trend we will be looking at a great year for sellers of condos and homes here on the Nevada side of the lake.
