The Las Vegas real estate market continues at a rapid pace going into the final quarter of 2015. Our inventory in Summerlin, Las Vegas, Henderson, and North Las Vegas has increased year over year by about 6%, however buyers are loving having a few more home choices to decide between as our pending home sales are up 33%. Another key indicator that shows the market remains strong is that average sale price is up 6% while our total homes sales are up 13.6% year over year.
Many buyers see the opportunity to get in before interest rates rise any further. At this time we are still in a sellers market with having about 3 months of inventory in the greater Las Vegas area.