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Monday, September 15, 2014

Las Vegas Valley Market Report: Henderson Home Sales - 1st and 2nd Quarters 2014

The Las Vegas Valley Market Report for Henderson Home Sales shows an increase in Home Sales Prices from the 1st quarter to the 2nd quarter of 2014. The average price sold increased from $257,200 to $261,157, and the median increased from $217,983 to $220,500. The average sales price per square foot increased 3.02% while the median price per square foot increased 4.07%. The speed at which the rental houses closed (DOM – Days on Market) also increased 13% on the average, and 32% on the median. The Shay Hasselmann Group is always ready to help you with your home sales and buying needs at  .

An Overview of Henderson Home Sales is shown here:
Number of Sales:
1st qtr. – 1266
2nd qtr. – 1687

Average List Price:
1st qtr. – $263,579
2nd qtr. – $266,979
Average Sold Price:
1st qtr. – $257,200
2nd qtr. – $261,187
Average Sq Ft:
1st qtr. – 2,007 sq ft
2nd qtr. – 1,984 sq ft
Average Sold Price Sq Ft:
1st qtr. – $ 122.40
2nd qtr. – $ 126.10
Avg. Days on Market (DOM):
1st qtr. – 62 days
2nd qtr. – 54 days

Median List Price:
1st qtr. – $220,000
2nd qtr. – $225,000
Median Sold Price:
1st qtr. – $217,983
2nd qtr. – $220,500
Median Sq Ft:
1st qtr. – 1,789 sq ft
2nd qtr. – 1,758 sq ft
Median Sold Price Sq Ft:
1st qtr. – $ 115.60
2nd qtr. – $ 120.30
Med. Days on Market (DOM):
1st qtr. – 37 days
2nd qtr. – 25 days

What is the difference between Average and Median and why does this matter to the Las Vegas Rental market?
Average is the sum of the individual items divided by the number of items. Median is the middle number.
For example, we have 7 houses with monthly rents at $1000, $1000, $1500, $2000, $2000, $3000, $15,000.
When we add the rents together ($25,500) and divide by 7, we get an Average rent of $3,642.86. The Median rent is the middle number of $2,000.
As you can see, the reason it is important to know the Average and the Median rent price is that a very low number or a very high number in the group can offset the final number. In our example, we had a very high number which made an 82% difference of $1642.86. So it is always good to compare both numbers to get a real sense of what is going on in the market.

The Shay Hasselmann Group is a team of real estate professionals who have collectively garnered top awards in production and sales in the Keller Williams organization in the Southwest Region. According to  title companies’ data in Las Vegas, they are in the top 1.5% of production for Las Vegas Real Estate agents. They are driven by a need to serve the Las Vegas, Summerlin, and Henderson Real Estate community with excellence and professionalism, whether selling, buying, or renting homes. Information and searches may be found at and .
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3090 S. Durango Dr. Suite 100, Las Vegas, NV 89117
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