There are several reasons this may be. I can attest that as an active Realtor in Las Vegas I have seen some neighborhoods that have dropped a couple thousand dollars but this is certainly not across the board. I expect the main reason in the average price dropping is that more lower priced homes were sold and fewer higher priced homes. When you average it this will show a slight drop. Prices certainly are stable and are not falling like a brick. As a Realtor in Las Vegas my main objective, besides providing the best service to my clients, is keeping a pulse on the market. The market started cooling in the middle of August and is not chugging along with no help from the government shutdown but I will save that for another post.
If you have been thinking of selling, now is a great time as prices are up significantly for the year. Las Vegas real estate is stabilizing and you can get a free report on the current value of your home here.
