Las Vegas real estate market at a glance
Published On: May 26, 2016 Posted by: Millie Fine
Below is what is called a Market Action Index and it is done by quartile. What it tries to do is to represent the market in terms of a buyer or seller’s market. This algorithm looks at median prices, inventory, days on the market and a couple of other factors and comes up with a number. Anything above 30 is considered a sellers market and anything below 30 a buyer’s market. In addition, in the graph below the market is separated into quartiles with 3 of the 4 quartiles in the seller’s zone. With quartile 1 (the highest priced properties) dipping slightly into the buyer’s zone. I like this representation. It is generously provided courtesy of WFG National Title Company. I plan at this point, using it in a blog post every month or so. The below MAI is for the Las Vegas area.