2017 was an interesting year for real estate in Las Vegas. The market for condos, townhomes and single-family homes saw sizable increases in number of sales, prices and total dollar volume sold. The number of days properties remained on the market dropped drastically, 50% for condos and 37% for houses. So why weren't people jumping at selling their homes? Not sure, but due to the lack of sellers, the months of on-hand inventory dropped substantially as well.
What can we learn from this? Well, if you're considering selling - prices are up, listing times are down, and selection of pre-owned homes is sparse. In otherwords - what are you waiting for!!!
For home buyers - if you're not seeing what you want due to lack of inventory, consider buying a new
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