The 411 on Las Vegas Home Sales Last Month
Good news, Las Vegas homeowners. January provided a late (or early) Christmas gift. The median home price (meaning half the sales are above and half below) rose 1.7 percent to $239,900. So says market research just out from Ticor Title Nevada.
Another good sign for Clark County sellers: The days on the market or the time it takes to get your house under contract, fell 7.7 percent to 57 days, the Ticor report continued. Of course, if you price ’em right, I can sell them as fast as six hours (my record). Last month I got a luxury home in Henderson under contract in 10 days, just saying.
Active listings were down 18.8 percent in January 2017 over January 2016. This is indicative of a inventory shortage here in Las Vegas.
What does this mean for sellers? Now is a good time to sell because prices are rising and there are fewer homes available, meaning less competition.
Buyers: Well, you are going to have to work harder to find one. Also, keep monitoring interest rates. Too early to tell in the Trump administration if they will continue trending up or stay low.