If you look back in December of 2016 Condos were among the most popular “living arrangements” more so than with actual houses for homeowners, this was determined when numbers were let out and released this past Thursday by the GLVAR which is also known as The Greater Las Vegas Association of Realtors, there was no surprise at all with this either because they were incredibly cheaper.
This doesn’t mean that sales were extremely horrible actually if you look back into the month of December sales for actually homes significantly increased by a percentage of 4.6. That is 4.6% more of a sales pitch then back in 2015! In 2016 if you look at the annual rates they went up as much as 1.3% more than in 2015 when it came to a close.
The sales in December were a lot higher, and they jumped up by a whopping 18.9% whereas in 2015 they were only at a percentage raise of 12.4%. What a significant increase that was between 2015 and 2016.
There may be a few difference that can be explained by the actual prices The actual average price of a house in the month of December in 2016 was roughly estimated at $235,000, this was a percentage raise of 8.3% from December 2015 to 2016.
Eleven percent of the sales that took place in December of 2016 were actually short sales, and the banks owned the homes at this time, they were a lower percentage and down from 13.7 percent in December of 2015.
According to GLVAR, trying to get into a home this December is a very tight, and closed, crampy, corner! There is only a few more than a two-month supply of homes readily available for others, which is low because to be considered a balanced and efficient home market LV VA’s president tells us it usually has a six-month supply on hand.
You, of course, want to keep a few of your views open. The fact remains, yes there were more condos and homes sold altogether in the year 2016 than there has been in the two years prior but, this does not in any way mean that sales are where they were even looking back as far as 2009-2013.