The latest numbers are in for the Las Vegas real estate market, and they’re giving us an idea of what to expect as 2019 continues.
I’ve got a quick update for you on the latest news and information from the Las Vegas real estate market.
We’re currently in a seller’s market with 3.3 months’ worth of inventory and we’re starting to see things stabilize a bit.
Our current level of inventory has given us an average of 40 days on market. It’s taking sellers a bit longer to sell their homes, but there is still plenty of demand.
“It’s all about price for home sellers.”
Our median sale price sits at $296,000. The pricing index says that 74% of our inventory is overpriced.
Overall, what does this mean? Essentially, it’s all about price for home sellers. Buyers are still buying in this market, but if you’re a seller, you’ve got to price at market value in order to get your property sold quickly.
If you have any questions in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.