An overview of the Las Vegas and Henderson real estate markets.
The Las Vegas and Henderson real estate market has significantly changed in the past two years. In 2021, the market was incredibly competitive, with only 1,800 homes available, leading to a frenzy of buyers vying for a limited supply of homes. It was an ideal time for sellers to get top dollar for their properties while buyers struggled to get a foot in the door.
However, the market shifted in June 2022, with inventory increasing to 8,500 homes. The Federal Reserve’s decision to raise interest rates contributed to a downturn in the market, causing homes to come off the market and low buyer activity. But, as of the beginning of April 2023, the market has shifted again, with inventory decreasing to 4,500 homes and buyer activity on the rise.
“It’s essential to work with an experienced real estate agent.”
For sellers, now is the perfect time to take advantage of this shift in the market and put their homes on the market. However, buyers may face more competition and a slight disadvantage. But, with the right strategies, buyers can still find the home they love without breaking the bank.
If you’re a seller considering putting your home on the market, it’s essential to work with an experienced real estate agent who can help you navigate the current market conditions and maximize your profits. On the other hand, buyers can benefit from working with an agent who has specific strategies like ours to help them find the right home in a competitive market.
If you have any questions or want to hear more about how our real estate team can help you navigate the Las Vegas and Henderson markets, we’re here to help. Reach out to us by phone or email.
