The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
The median list price in LAS VEGAS, Nevada this week is $247,500.
The asking price per square foot is $117
Average Days On The Market 102
Percent of Properties With Price Decrease 34%
Median House Size 2047 Square Feet
Median Lot Size 4501 - 6500 Square Feet
Median Number of Bedrooms 3
Median Number of Bathrooms 3
Market Action Index is currently at 39.8
The market seems to have paused around this plateau.
The Market Action Index is a good leading indicator for the durability of this trend. Inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the Market Action Index. Got a house to sell? If the market heats up, prices are likely to resume an upward climb.
Characteristics per Quartile
Most Expensive Properties 3606 Square Feet Lot Size .25-.50 Acre 4 Bed 4.5BA Median List Price $539,900
Upper Middle 2415 Square Feet Lot Size 4500-6500 SF 4 Bed 3 BA Median List Price $299,000
Lower Third 2402 Square Feet Lot Size 4500 SF or Less 3 Bed 3 BA Median List Price $202,995
Bottom Fourth 1410 Square Feet Lot Size 4500 SF 2 Bed 2 BA Median List Price $138,000