This is an exciting time to be in the real estate market in Las Vegas!! The dynamics of the market for the entire year of 2021 have shown that there is a lot of demand for housing in Las Vegas. Even with a record breaking median sales price for single family residential homes at $420,000, there is still unsatisfied demand. Housing prices in Las Vegas are still more affordable and undervalued than most other major metropolitan areas. Even with higher prices, super loan interest rates help keep the monthly payment affordable.
Nobody wants to overpay for a property and often try to “time the market” and wait for the prices to fall. Those people that have been “waiting” over the past 12 months have seen prices increase almost 30%. Unlike other types of investments, you can touch real estate. It is tangible. Based on the market conditions, we don’t expect prices to “crash” anytime soon. Sitting on the sidelines is only going to make the house you could purchase today more expensive tomorrow.
If you are looking at selling, trying to time the market doesn’t work either. Normally, when someone is selling one property, they need to live someplace, so they are buying a different one. When prices are going up on the property to sell, it typically means they are also going up on the property they want to buy.
Call or text today at 702-843-6733 to chat how you can take advantage of the historically low interest rates to get into this amazing market!!
Current Market Stats
