What’s going on in the Las Vegas real estate market? Stay tuned to find out. 

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Inquiring minds want to know what’s going on with our Las Vegas real estate market. In today’s quick update, I’ll answer a few of the key questions people have about the market.

Is it a buyer’s market or a seller’s market? Well, according to our 2.5% absorption rate, we are currently still in a seller’s market.

With that in mind, what does the current housing inventory look like here in Las Vegas? At the moment, we have 9,866 homes for sale.

“If sellers overprice their house, they’ll soon learn that our buyers aren’t willing to exceed the market value right now.”

Are homes selling above or below their estimated market value? If a seller prices their home correctly, they’ll get the market value for their home. However, if they’re overpricing their house, they’ll soon learn that our buyers aren’t willing to exceed the market value right now.

What are our current interest rates like? The current interest rates are great! They’ve dropped below 4%, so it’s a perfect time to buy in our market.

Overall, what does this mean for Las Vegas buyers and sellers? Now is the perfect time for buyers to make a purchase due to our low interest rates.  For sellers, it’s also a great time to list because buyers are flocking to Las Vegas and those who price their homes correctly can expect a quick and profitable sale. 

If you have any questions about buying or selling real estate or about the market in general, don’t hesitate to give me a call at (702) 686-2695 or send me an email at marykaybeckman@gmail.com. I hope to hear from you soon!