The Las Vegas housing market is still on fire, just like in September 2020, with record prices despite the pandemic’s massive effect on the economy. The Las Vegas housing market remarkably hit an all-time high record in September with a small percentage down this October 2020 but has not affected the prior month’s boost.
Three thousand two hundred twenty-five single-family houses sold in October, down 1.4% from September, but up 11.2% from October 2019.
Since May this year, the median sales price of previously owned homes under the single-family category has set the record straight increase. The sales went from $337,250 in September to $340,200 in October, which is up .9% and up 10.8% from the prior year.
If you have doubts about selling your property, real estate experts advise that you SELL IT NOW! There are excellent and motivating reasons to sell this time. Buyers are into inventory, and you are not competing with as many sellers as before.
When buyers are looking for the perfect opportunity to buy, and we have fewer homes on the list, the Law of Supply and Demand will again conquer our market charts – less supply, more substantial price offer.