1 of 21 photos Las VegasNV For Sale $535,0005 Beds / 4 Baths
Lovely home in the heart of Summerlin''s Amber Hill community. dramatic open floor plan with living room/family room/dining room/ kitchen combination. Balcony off living room overlooking pool area...
1 of 18 photos Las VegasNV For Sale $348,5004 Beds / 3 Baths
This is a beautiful single story in the heart of Summerlin! Circular driveway welcomes you to a gated courtyard entry! Four bedrooms with a formal living and dining room...
1 of 14 photos Las VegasNV For Sale $325,0002 Beds / 2 Baths
GORGEOUS, single story home in Summerlin! Upgrades throughout including polished Travertine floors, Maple cabinets, designer fixtures, custom builtin cabinets...
1 of 4 photos LAS VEGASNV For Sale $285,0003 Beds / 3 Baths
Gorgeous, single story home in gated Mountains Edge community! Just rehabbed with neutral flooring and paint! Open, single-story floorplan! Sparkling pool in backyard!..
1 of 6 photos Las VegasNV For Sale $174,9004 Beds / 3 Baths
Great two story on a huge corner lot in the southwest! 4 bedrooms, living and dining rooms with hardwood style flooring downstairs. Pool and spa in landscaped backcyard...
Typical Family Buyer Homeowners have a seemingly insatiable appetite for information about the housing markets. "Are prices going up?
How's the market? Is now a good time to sell?" they ask. Research reports and newspaper articles provide useful
answers, but the information is usually buried in economic jargon. What is a "median price" anyway? What
does "seasonally adjusted" mean? Does anyone understand "unsold inventory index?"
To help you follow the numbers, here are some helpful definitions:
Median price. An oft-cited indicator of the strength and direction of a housing market, a median price
is the midpoint of all the prices of Las Vegas homes sold in a given area during a specified period. Midpoint means half the Las Vegas homes sold for higher prices and half the Las Vegas homes sold for lower prices. The median isn't the same as the average, which would be calculated by totaling all the prices and dividing by the number of prices. The median price can be affected over time by the characteristics and sizes of Las Vegas homes sold as well as price trends. For example, if the market shifts from starter Las Vegas homes to luxury mansions, the median price will increase even if Las Vegas homes are not appreciating in value.
Seasonally adjusted. Housing markets are naturally more active in the spring and summer months because people prefer to move during the longer warmer days and between school years. That pattern means it's difficult to make meaningful comparisons between results for different months or quarters of the same year. To overcome this hazard, economists statistically tweak the reported number of Las Vegas homes sold during various periods to reflect seasonal variations. The tweaked numbers are denoted as "seasonally adjusted."
Price discount. The "price discount" is the percentage difference between the seller's initial asking price and the actual purchase price of the same home. For example, if a Las Vegas home were priced at $200,000 and sold for $190,000, the discount would be 5 percent. Price discounts are usually reported as an average for a set of Las Vegas home sale transactions. A small percentage, on average, means the market favors sellers, while a large average discount signals a buyer's market.
Unsold inventory index. This index, which indicates the pace of the market, is calculated by measuring how long it would take for all the Las Vegas homes currently on the market to be sold at the current rate of sales. A smaller index is a positive sign for sellers, while a higher number is good news for buyers.
Affordability index. An affordability index measures whether a typical family can qualify for a standard mortgage to purchase a typical home. A "typical" family is defined as one that earns the median income in a given area, and a "typical" Las Vegas home is defined as a median-priced single-family house in the same area. An index value of 100 means a median-income family has exactly the amount of income needed to purchase a median-priced home. A number higher than 100 means the family's income is more than adequate, while a number less than 100 means the typical family can't afford to buy the typical home.
Homeowners have a seemingly insatiable appetite for information about the housing markets. "Are prices going up?
How's the market? Is now a good time to sell?" they ask. Research reports and newspaper articles provide useful
answers, but the information is usually buried in economic jargon. What is a "median price" anyway? What
does "seasonally adjusted" mean? Does anyone understand "unsold inventory index?"
Equal Housing Opportunity. Equal Opportunity Employer.
