Las Vegas Home Prices Continue to Rise in September- Even with the lack of inventory, home prices in Las Vegas continue to jump to new records. The average sales price for a single family home in The Las Vegas Valley is now at $337,250.00. A change in price of 8.8% from $310,000.00 in September 2019. This is due to the lack of inventory as well as the lowest rates in mortages we have ever seen. Check out the Fox 5 article here: https://www.fox5vegas.com/news/las-vegas-area-home-prices-set-another-record-amid-short-supply/article_3c69db28-07d0-11eb-81e5-b332d96e117e.html
Buyers continue to find limited options for housing here in Las Vegas. New home construction usually is about 20% higher than the resale (MLS) market. With new homes, most buyers will have to wait at least 6 months to build their new home. This is great if you are not in a rush to buy a home. If you are looking on the resale market, be ready to act on a home ASAP. This means if you are a cash buyer, have a proof of funds letter ready. If you are financing, make sure you are approved with your loan officer and try to get a full approval letter from your loan officer. This helps you stand out from the crowd of other buyers and it shows the seller you are ready to make the purchase.
If you are in the market to buy, make sure you start researching areas, what you are looking for in a home and have a game plan once you find that home you love. This means figuring our what you are willing to pay, do you need to remodel? Carpet, paint or flooring in general are a few things to think about when looking at homes on the resale market. If you need suggestions to areas here in Las Vegas, check out my communities page here: https://lvrealty4sale.com/communitiy-pages-in-las-vegas-and-summerlin/
Call me today to discuss how I can help you find your dream home in this market! 702-768-2552.