Realty One Group - Shannon Smith Group

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November 2024

The dust is still settling after the election, and with it comes a fresh wave of questions: What’s next for the Vegas real estate market? If you’ve been holding your breath, you’re not the only one. The stock market’s recent surge might be the first clue, hinting at a shift in confidence. But what does that mean for you? Whether you’re looking to make a move or just keeping an eye on things, let’s break down how this could impact supply, demand, and, ultimately, prices.

The Vegas market has held steady, with home values staying strong and more properties coming onto the market. I’m not sure if you noticed, but the days after the election the stock market has been doing extremely well. This jump doesn’t mean immediate changes in real estate, but it’s a sign of growing confidence. And when confidence grows, those who’ve been waiting on the sidelines often step back in and start making decisions they’ve put on hold.

A lot of people were holding off, waiting for the election to pass before making major moves. Now, with a new administration set to take over, this pent-up demand could start coming to light. If that happens along with lower interest rates, we might see a shift in the balance of supply and demand, which could push prices upward.

It’s important to keep an eye on these signals and potential policy changes. Timing is everything, and knowing when to act can put you in the best position. Stay informed, stay proactive, and be ready to take advantage of the opportunities that come up in the Las Vegas market. I’m here and ready to chat if you have questions or want to explore your options.

Las Vegas Market Snap Shot
TOTAL PROPERTIES AVAILABLE
Single-family: 5,547
Condo/ Townhomes: 1,770
High Rise Units: 465
Multi-Family, 2-4 Units:  81
Manufactured Homes: 95
TOTAL PROPERTIES IN ESCROW
Single-family: 2,049
Condo/ Townhomes: 534
High Rise Units:  72
Multi-Family: 2-4 
Units:  23
Manufactured Homes: 38
PROPERTIES SOLD IN OCTOBER
Single-family: 1,869
Condo/ Townhomes: 521
High Rise Units:  55
Multi-Family, 2-4 
Units:  25
Manufactured Homes: 29
MEDIAN SALES PRICE FOR OCTOBER
Single-family: $480,000
Condo/ Townhomes: $320,000
High Rise Units: $357,000
Multi-Family, 2-4 
Units:  $599,000
Manufactured Homes: $245,000
MEDIAN SOLD DOLLAR PER SQFT FOR OCTOBER
Single-family: $260 per sqft
Condo/  Townhomes: $245 per sqft
High Rise Units:  $456 per sqft
Multi-Family, 2-4 
Units:  $185 per sqft
Manufactured Homes: $160 per sqft
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