Las Vegas Real Estate Blog
Wondering why Las Vegas home prices are going up?
Las Vegas median price has reached a new record of $385,000. Wondering why home prices are going up? It’s as simple as supply and demand. High buyer demand paired with low housing inventory means natural price appreciation.
Here in Las Vegas, we currently have less than a one-month supply of available homes for sale. A balanced market is traditionally a six-month supply of available homes for sale.
If you have questions about today’s market trends and what they could mean for you, message us for answers....
In Today’s Market, Listing Prices Seem More Like an Auction’s Reserve Price
For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking.
Today is different.
Mortgage Rates Gradually Rising
Even though mortgage rates remain near record lows, they are gradually rising just enough that experts see a light on the horizon for buyers who have struggled with fierce competition in today’s housing market. If you’ve been planning to buy a home, Message us today so we can start planning your next move as the market changes....
2398 Malaga Peak Street, Las Vegas, NV 89135
Congratulations to our Seller for the sale of her three bedroom, 2.5 bath home in the Traccia community in Summerlin located in southwest Las Vegas. This home had multiple offers and sold for $445,000 after just 3 days on the market....
Las Vegas Homes Are Selling Fast [INFOGRAPHIC]
- In today’s whirlwind real estate market, houses are selling at astonishing speed – from sea to shining sea.
- Four years ago, the average house spent 39 days on the market. Two years ago, homes were on the market for about 24 days. Today, that number has dropped to just 17 short days.
- If you’re looking to sell your house quickly and on the best possible terms, today’s market can’t be beat. Let’s connect to discuss how to secure a speedy, top-dollar...