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It is with great pleasure that Shannon Smith welcomes you to Las Vegas, and to his website. With years of experience in the market, he knows how crucial it is for you to find relevant, up-to- date information. The search is over. This website is designed to be your one-stop shop for real estate in Las Vegas.
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That is exactly what you get here. This website has been built with you in mind. From the highest quality property images to the most informative guides and blogs, he is here to make your home buying or selling experience smooth and stress-free.
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Hi, Fun Fact: Housing inventory has decreased 12.5% compared to last month while the amount of homes sold increased by 23.8% Inventory beginning of February: 5,012 Homes sold in January: 1,263 CLICK HEAR TO SEARCH THE MLS Las Vegas Market Snap Shot TOTAL PROPERTIES AVAILABLE Single family: 4,376 Condo/ Town homes: 1,118 High Rise Units:... Read More
Hi, HAPPY NEW YEAR!!! There’s a good chance that low inventory and increased demand will begin to push home prices higher very soon. Currently there are only 5,012 homes for sale with 2,587 homes currently in escrow. It seems that almost overnight, buyers have come to realize that interest rates will be higher for the... Read More
Hi, Fun Fact: Housing inventory has decreased 12.5% compared to last month while the amount of homes sold increased by 23.8% Inventory beginning of February: 5,012 Homes sold in January: 1,263 CLICK HEAR TO SEARCH THE MLS
Hi, HAPPY NEW YEAR!!! There’s a good chance that low inventory and increased demand will begin to push home prices higher very soon. Currently there are only 5,012 homes for sale with 2,587 homes currently in escrow. It seems that almost overnight, buyers have come to realize that interest rates will be higher for the foreseeable future and if they want to own a home, why wait. We aren’t seeing home
Hi, I hope you and your family are doing well, and you stay on track for all of your New Year goals. I'm not sure if you read our local newspaper the Las Vegas Review Journal, but I had an opportunity to give my thoughts on what to expect this year in real estate market. PLEASE CLICK THE LINK BELOW https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/all-eyes-will-be-on-mortgage-rates-in-20
Hi, Single Family home prices are down 2.25% in November from October to a median price of $435K. The amount of sold are down 11%. What caught my attention is that inventory is also down 10% now, compared to October. Maybe sellers are taking their homes off of the market or just deciding not to list but lower inventory is a positive sign. Homes are on the market for an average of 33 days before accepting
Hi, Judging by the buzz on the streets and media outlets, I’d think the housing market was doing worse than what the actual numbers suggest. It’s possible the current statistics are a warning sign, but on average, properties values haven’t declined much since August. In August the median Single-family home was $450K In October it was $445K What is declining is the number of properties sold and in escr
Hi, I speak to people daily about the housing market and everyone I speak with wants to buy. They’re either ready to buy now, or waiting for the market to crash. I’ll continue to say; until I’m proven wrong that the market isn’t crashing its correcting. Yes prices have come down and we don’t know when they’ll stop, but we can never perfectly time the bottom. Buyers and sellers have to make the right d
Not sure if you receive the Sunday paper, or read it online but please see the article I wrote for the Review Journal in the link below. https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/this-las-vegas-housing-market-is-correcting-not-crashing-2622579/ I'm extremely grateful to be able to share my views and insights on the current condition of our housing market. I get asked everyday if he
189% is the amount inventory increased in 3 months since April (that’s a lot). In the past 24 hours, 214 homes hit the market, 98 sold, and 132 homes went into escrow.. Let’s be clear, increased inventory is a GOOD THING. The housing market is sprinting to a better supply demand ratio were inventory is now equal to a 2-3 months’ supply of homes. We’re witnessing a wild swing of the pendulum away from t
The market is reaching a turning point in which price reductions are more common, and where buyers have more options. Since my last newsletter in mid-May, available single family home inventory jumped 36%. Higher inventory will eventually result in growing pressure on home prices. And though its still relatively early, two things are clear: First, home prices are still rising. They haven’t collapsed, and are no
Five years ago in April of 2017 the average sales price was $250K. I can remember a number of people telling me they weren’t buying at the top of the market and they’ll wait for prices to come down. Those people are still waiting and kicking themselves in the butt. Whenever a person purchases real estate, it’s always at the top of the market. That’s the beauty of our economy and Supply and Demand. Whether
Will higher interest rates help tame the rising home prices we’ve been experiencing? The Fed definitely hopes so! Raising interest rates helps slow down the economy by making borrowing more expensive. In turn, traditional home buyers, investors and businesses pause on making investments, which leads to reduced economic demand and theoretically reels in prices.We never know what someone’s motivation is to buy a h
A new record...AGAIN Hi <<First Name>>, 1 out of every 5.5, let’s just say 6 homes on the market today are listed at or above $1M. We’ve been breaking median sales price records every month for almost a year, and while doing market research I noticed how the number of million-dollar homes for sale has increased. Speaking of increased, in January th
Just in case you missed it: Please click the link below to read the article that I had the honor of writing for the Las Vegas Review Journal. https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/getting-tougher-to-buy-a-home-in-las-vegas-2520571/ I had to triple check the statistics today. Not many options for buyers as demand remains high and inventory extremely low. I question if t
HAPPPY NEW YEAR!!! I hope you and your family are doing well and you stay on track for all of your New Year goals. 2021 in Las Vegas Real Estate was one for the records books, Literally! Was it smooth sailing, or a perfect storm? I’d say neither, because there is no perfect way to describe the red-hot housing market we've seen in Las Vegas all year. It was spurred by a combination of low mortgage rates, r
Hey My Friends , Is cash still king? Probably so, but cash buyers are backing off giving everyone else a golden opportunity! Only 18% of homes in July sold to cash buyers. 82% of buyers obtained some sort of financing. 49% received a conventional loan, 18% FHA, 12% VA and 3% some other type of financing. Homes on average sold for 98% of the list price. So if a home was listed for $100K it probably sold fo