Although investors might say that the ebb and flow of the market isn’t always predictable, some market trends such as home sales can be calculated. Like in Nevada, for example, the home sales are expected to rise around September.
If you’re an investor looking to buy a property or a property owner who’s planning on putting up a property for sale, Golden Assets & Property Management LLC (GAPM) has interesting knowledge to share.
It has been reported that in Las Vegas, the housing supply is shrinking. Upon further inquiry, it is believed that the reason why the housing supply in Las Vegas shrinks is actually the rise in home sales and property price stabilization in the area.
September was mentioned specially because a steady increase and stabilization of values has been observed to happen at this time of the year. For example, the average price of single-family homes rose to $235,000 from $220,000 in just the span of a year.
On the other hand, the median value of properties such as townhouses and condominiums have been observed to have declined from the previous year. From this observation, stability can be determined as opposed to long-term decline.
In a September report on property and housing sales. The report shows some surprising figures.
Roughly 39,000 condominiums, high-rise condos, and town-homes were sold last year in 2016.
More than 3,000 houses, condominiums, and townhouses were sold, which is almost 300 properties more that was sold compared to the previous year.Almost $790 million was the estimated value of real estate transactions for the month of September, a grand 8-9 percent increase from the previous year.
Real Estate and Property Management
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