Update on the Las Vegas Market

We’ve seen a steady flow of coming soon listings—between 50 to 75 homes every week. Over the last two weeks, we’ve seen 1,200 to 1,400 new listings in the Las Vegas market. I also noticed that 1,000 to 1,100 homes were going under contract. Now, you might have heard rumors and news saying that homes aren’t moving right now, but that’s not true—homes are moving. 

One of the advantages on the buying side is that lenders are offering support to buy down those rates. This incentivizes buyers to move forward. We’re helping support sellers at the same time. We’re in a different market than we were six months ago, so we use new strategies for marketing, advertising, and prepping the house to sell in this market.

Over the last six months, we saw a trend of 400 to 500 homes going into lease contracts. Why is this important? If somebody doesn’t plan on selling their house, they’re taking advantage of slightly lower prices and purchasing investment properties. Vegas still has a strong leasing market, but the needle hasn’t moved much over the last few years. Now is a great opportunity for anyone looking to buy and hold and have an investment.

If you have any questions, reach out to me. I’d love to assist you with all your real estate needs.