RealtyTrachad good news for Las Vegas homeowners. Sellers whose houses closed in the last eight weeks booked an average gain of 23 percent or $36,000 above their purchase price, on average. This profit margin was the highest locally since October 2007, when sellers enjoyed an average 31 percent gain.
The median price (half are higher and half are lower) of single-family homes in May (we are still waiting for the June numbers) was $229,250. The median price hovered around $220,000 for the last year.
May's median price is a jump of 3.9 percent from April and 8.5 percent over May 2015 prices, according to the Great Las Vegas Association of Realtors.
A warning to sellers: YOUR house may not be worth the 3.9 percent increase. One second ago there were 3,113 homes listed on the MLS that did NOT have offers; that's one-third of the 9,567 total. Buyers these days are smart. They have a good idea what homes are selling for. If your house is overpriced, it will sit. Be realistic if you want out!
Here's a great reward for this horrible election season. If you voted,
"Working with eXp Realty was a pleasure. When we started, we had no idea what we wanted, but our buyer agent helps us figure out the pros and cons of all our options. Our agent went the extra mile willing to put in the extra effort to answer our questions, to make sure we were happy with our decisions, and educated about the market and local area."