January 2023 Market Update

Happy New Year to everyone. The real estate market in Las Vegas, in 2022 and in December 2022.

🔸In 2022, overall, the market started right out of the gate in a frenzy.
🔸The overall appreciation in the first five months of 2022 was about 14%.
🔸In the second half of the year, the government raised the rates up to 7.5%
🔸The prices went back down to where it was back at the end of 2021.
🔸The good news is that a lot of experts and lenders are anticipating seeing the rates in the 5% again, as early as April.
🔸In December of 2022, our inventory was exactly 6,395 houses available for sale.
🔸In November, we had 7,515 homes available
🔸In December, we had 1,334 houses sold.
🔸The medium price for Las Vegas real estate dropped to $415,000.
🔸In November, it was $425,000
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Mike & Team Tchobanian | Vegas Capital Realty
8860 S Maryland Pkwy, Suite 118 Las Vegas, NV 89123
702-530-5844
info@vegascapital.com
www.vegascapital.com