Las Vegas Buy or Sell Meter

There are great times to buy in Las Vegas and great times to sell in Las Vegas. Some times we don't have a choice so NOW is the time. However, if we have time to make a great decision we can follow the market and get a great feel for what is happening.

A BUYER'S MARKET is one where sellers compete to sell their home. They must offer incentives and often times take less money for their home than in other times. They may need to pay for a buyer's closing costs and other items that are commonly negotiated.

A SELLER'S MARKET is one where the buyer competes for a seller's home. Prices are often bid up and buyer's must pay for their own costs because another buyer may out do them in terms or price.

A NEUTRAL MARKET is one where buyers and sellers must negotiate over every item. Another buyer may exist for the home with better terms or it may not.

Historical Las Vegas Buyer's or Seller's Market

Seller's

Buyer's

Feb 08 - 668

Jan 08 - 696

Dec 07 - 711

Nov 07 - 761

Oct 07 - 790

Sep 07 - 801

Aug 07 - 798

Jul 07 - 783

Jun 07 - 759

May 07 - 748

Apr 07 - 718

Mar 07 - 675

Feb 07 - 625

Jan 07 - 596

Dec 06 - 561

Nov 06 - 623

Oct 06 - 632

Sep 06 - 637

Aug 06 - 628

Jul 06 - 611

The graph and numbers represent the strength of buyers and sellers within the Las Vegas Market based on homes for sale by a Realtor®(s) (a real estate agent associated with The Greater Las Vegas Association of Realtors (GLVAR). This is strictly an experimental indicator at this point because the numbers are not scientifically proven. Many factors go into the determining of the strength of the market. Most numbers are pulled from the Multiple Listing Service (MLS) provided by the GLVAR. The numbers are usually pulled monthly and no warranty or guarantee is provided by the GLVAR so these numbers are informational only. Please see the site disclaimer.

Las Vegas Buy or Sell Meter Explained

The Las Vegas market meter formula is fairly simple. Here is how it works:

The goal is to compare current listings to current average expected resale home buyers.

Las Vegas Review Journal explains,

“The Las Vegas Valley adds as many as 7,000 residents a month...About a third of the city's new residents will buy homes immediately...plus, existing residents who want to trade up their home equity or stop renting generate additional demand for properties..."

For our formula we will use 3,500 as the average number of home buyers and take the number of listings monthly by comparison.

The final formula is

(current listings/3,500)

This gives us an index where 100% or 1 is a perfect 1 to 1 ratio of homes (products) to buyers. The margin up or down tells how much of a buyer's or seller's market we are looking at.

I typically update this graph 4 to 7 days after the end of the month because properties sold at the end of the month are often not completed in the MLS system for a few days.

A historical view of the Las Vegas market is also very valuable. Notice the cycles that form over periods of time.

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NOTE: Information on this site is not guaranteed to be accurate. Some content has been compiled from 3rd party sources or feeds. If you are aware of incorrect or outdated information, feel free to contact us.

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