Las Vegas is not known for balance. The latest arena for Vegas unbalance is our resale home inventory.
The National Association of Realtors's economists says a six month's supply of homes is a healthy market. We only have a 2.5 months supply of homes for sale, according to the Greater Las Vegas Association of Realtors.
What does that actually mean to you?
Buyers: It is just harder to find a home. Patience is not my strong suit but summon it up, kids. There IS a house out there for you. Don't give up!
The laws of economics say low supply should push up prices. But thankfully that hasn't happened. The median price for homes in Las Vegas in July (median means half are above and half below) was $236,000, up just $1,000 from June. Buyers, now you are getting a fair price when shopping now.
Sellers: The low inventory increases your chances of selling quickly...assuming the have priced your property appropriately. I have seen homes on the market for 200 days just this week. Guess what? They will be on the market for another 200 days because the price is too high.
The low inventory does not give you the license to overprice your property. Today buyers are smarter than ever. Don't assume they will be dumb enough to make your dream price come true.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
The Las Vegas City Council just levied a $72,900 fine to a homeowner f
"Hey Jake, working with you has been fantastic. You really helped make the stressful burden of buying a house a breeze! My wife and I were always impressed by the speed at which you could obtain information to any of our questions. Even helping us find someone trustworthy to get estimates for pool equipment. We can't thank you enough for helping us find the house with the layout we wanted in the area we wanted and making the purchase process so easy!
Jason and Rachelle Johnson"