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Josh Edelman
  • Real Estate Agent
  • Las Vegas
119
Votes |
177
Posts

Market Recap for April + News!

Josh Edelman
  • Real Estate Agent
  • Las Vegas
Posted

Good morning!

Who’s ready for the solar eclipse today?! Here in southern Nevada, we'll witness a partial eclipse, with exactly half of the sun obscured by the moon between 10:12 a.m. and 12:30 p.m., reaching its peak at 11:20. However, it might be wise to hold onto your eclipse glasses for the next event. Las Vegas won't witness totality until November 20, 2207, only 183 years away!

🏠📈 Real Estate Update 📉🏠

Here's the latest market report (based on single family homes):

🏡 Mortgage Rates:

30-year conventional rate today is 7.01%

30-year VA rate today is 6.46%

💰 Median Sales Price:

February: $460,000

March: $475,000

📈 New Listings:

February: 1,669

March: 1,798

📅 Median Days on Market Until Sale:

February: 21

March: 16

⚾ Oakland A's Move to Sacramento for Interim Ballpark: The Oakland A's have announced their relocation to Sutter Health Park in Sacramento starting next season, sharing the Minor League stadium with the San Francisco Giants' Triple A team, the Rivercats. This move comes as they await the construction of their new home in Las Vegas. With a seating capacity of 10,600 and average attendance of fewer than 7,000, filling the park doesn't seem a concern. The move is seen as a three-year audition for Sacramento to secure a spot for MLB expansion or as a backup if the Las Vegas deal falls through.

🎉 Fifty Affordable Things to Do in Las Vegas: Esquire.com has compiled a list of the top 50 activities in Las Vegas under $50. Notable mentions include the High Roller observation wheel, the Neon Museum, the Eiffel Tower observation deck, and more. Some items, like the A.Y.C.E. buffet at the Palms, offer great value, while others may not align with everyone's preferences. The complete list can be found on their website.

✈️ Record February for Reid International Airport: Harry Reid International Airport achieved a record number of passengers in February, totaling 4.33 million, marking a 3.8% increase over February 2023. This record follows a trend, with the first two months of 2024 showing a 1.4% year-over-year increase. Factors contributing to this growth include the Super Bowl, expanding convention business, and the ongoing recovery of international travel.

🌞 In April, Las Vegas boasts mostly mild and sunny weather, making it an ideal time to visit for those seeking to avoid the scorching temperatures of summer. With average daily temperatures around 80°F and nighttime lows of approximately 55°F, the desert climate follows its characteristic pattern of warm days and cool evenings. You will experience about 13 hours of daylight and low humidity levels at 24%, contributing to the comfortable conditions. Rainfall is rare, with only 4mm expected throughout the month.

I hope you’ve enjoy this month’s newsletter. Have a great day!

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