Realty One Group - Shannon Smith Group

702.809.0203

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May 2024

Hi,

Ah, the birds are chirping, the flowers are blooming, and the real estate market is… well, let’s just say it’s about to get interesting.

With warmer weather and longer days, more sellers are ready to list their homes, and more buyers are eager to find their dream properties. The kids are about to start summer vacation and it’s traditionally a time of increased activity.

Why Spring is Prime Time for Sellers:

  • Inventory is crazy low: See below for the number of homes for sale vs. the number of homes that sold in April. Buyers are hungry
  • A Fresh Start: Spring signals a fresh start for sellers, offering the ideal time to showcase your home’s best features and attract eager buyers ready for their new beginnings.
  • More Daylight, More Showings: Longer days mean more daylight hours for showings, making it easier for potential buyers to schedule visits after work or on weekends.
  • Curb Appeal: Homes look their absolute best during spring. Lush green lawns, colorful flowers, and budding trees create a picturesque backdrop for your home

Tips for Buyers:

  • Stay Flexible: With more buyers out and about, it’s crucial to stay flexible with your schedule and act quickly if you find a property you love. The average days on the market are 14, but the homes we tend to like are sold within a day or two.
  • Did I say stay flexible: It can help to create a list of “must-haves” vs. “nice-to-haves” and to be open to exploring different neighborhoods and property types.
  • Ask questions:  How much are property taxes?  Is there an HOA?  Have there been any recent sales in the area?  How do you think this home is priced?
  • Do Your Homework: Research neighborhoods, schools, and amenities to find the right location. Some areas may be nicer than you think.

Las Vegas Market Snap Shot
TOTAL PROPERTIES AVAILABLE
Single family:  3,409
Condo/ Town homes: 1,285
High Rise Units: 380
Multi-Family, 2-4 Units:  53
Manufactured Homes: 83
TOTAL PROPERTIES IN ESCROW
Single family: 2,640
Condo/ Town homes: 710
High Rise Units:  77
Multi-Family: 2-4 
Units:  31
Manufactured Homes: 51
PROPERTIES SOLD IN JANUARY
Single family: 2,216
Condo/ Town homes: 591
High Rise Units:  73
Multi-Family, 2-4 
Units:  18
Manufactured Homes: 26
MEDIAN SALES PRICE FOR JANUARY
Single family: $473,245
Condo/ Town homes: $291,500
High Rise Units: $415,000
Multi-Family, 2-4 
Units:  $575,000
Manufactured Homes: $241,200
MEDIAN SOLD DOLLAR PER SQFT FOR JANUARY
Single family: $257 per sqft
Condo/  Town homes: $241 per sqft
High Rise Units:  $394 per sqft
Multi-Family, 2-4 
Units:  $198 per sqft
Manufactured Homes: $178 per sqft
SEARCH FOR

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