What’s Happening in Las Vegas Real Estate?

Here’s what you need to know about our Las Vegas real estate market.

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Today I want to give you an update on what's happening in our Las Vegas market. This November was exactly like every other November from the last 20 years, so you can go ahead and skip to the end of this blog post… actually, I might have been wrong about that. This market has been wild and unpredictable all year, so let’s get into what’s really going on.

Traditionally, the market slows down in November as we head into the winter. This year couldn’t be more different. The median home price increased from $410,000 to $420,000, and pending sales increased by 13%. Meanwhile, we have just under one month of inventory.

Our market still has opportunities for both buyers and sellers.

What does this mean for buyers? It might be time to get off the fence. In today’s global market, you aren’t only competing with buyers from the Las Vegas market; you’re also competing with buyers from around the world. Our area is relatively inexpensive compared to places like California and New York, but prices are continuing to rise. Don’t price yourself out of the market — buy now while interest rates remain low.

For sellers, things are getting a little more competitive, but it’s still a great market. You need to work with a professional who knows how to market your home effectively. If you need to buy a home after you sell your current one, things can get tricky fast. Work with an expert to help you navigate through the process.

If you are looking to buy or sell a home, please reach out to me via phone or email. I am always willing to help!

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