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. 

Buying in the Las Vegas, NV area? Click here to get a Full Home Search

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.