Most Realtors will tell you that the best time to put your home on the market is during the spring, between March and June. The reasoning is pretty straightforward: buyer activity increases during this time of year. The weather is nice, families begin planning moves before the next school year, and more people start actively shopping for homes.
In the Vegas market right now, homes are taking about 32 days on average to accept an offer. Most properties are selling for roughly $5,000 below the original list price, and that does not include any concessions sellers may provide toward buyers’ closing costs or repairs.
At the same time, pending sales have been trending upward over the past couple of months, while the amount of available inventory has remained steady to slightly decreasing. When the number of homes going into contract increases while the supply of homes for sale remains stable or slightly decreases, it means more of the available homes are being placed under contract rather than adding to the inventory.
Over the past few days I’ve also heard a few conversations about the potential impact a war could have on the housing market. While events like that can influence interest rates and create uncertainty, it is way too early to know how something like that may affect the Vegas market.
While spring is traditionally one of the more active seasons for real estate, the market ultimately responds to supply, demand, and pricing strategy. When buyer activity increases while inventory remains steady, it often creates conditions where well priced homes in good condition continue to move, regardless of the time of year.
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Las Vegas Market Snap Shot
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