The Las Vegas Real Estate market picture is improving – fewer home sellers are reducing their prices. Latest industry surveys indicated approximately one-fifth of Las Vegas homes experienced at least one price reduction while on the market, compared with 30 percent a month ago, which is a significant drop and a positive sign for Las Vegas Real Estate.

Pricing Realities for Las Vegas Homeowners

Las Vegas Homeowners are adjusting to the realities in the marketplace finally and adjusting their prices accordingly, which underscores a different mind set for our market. To whit, people are much more realistic about what their Las Vegas home should sell for, which helps to smooth out the market. Homeowners are pricing their homes right the first time which reduces confusion in the marketplace.

Multiple Bids for Las Vegas Real Estate

The hottest segment of the Las Vegas Real Estate Market is the $0-150K price range. We are seeing multiple bids for most homes in this price range, with 4-6 in some cases or more. A great deal of this activity is being driven by investors, as they are now able to purchase homes in this price range and have positive cash flow, depending on their deposit, price of home, etc.

To summarize, we are starting to see real “life” in the Las Vegas Real Estate Market – we are telling our clients that we think real estate will have slow but steady appreciation moving forward, assuming nothing catastrophic impacts the total US economy. As indicated earlier, more and more investors are coming into our market – this underscores today’s opportunities in Las Vegas Real Estate!

Filed under: Las Vegas Market