Is Las Vegas a Seller's Market for Luxury Homes?

Las Vegas is a seller's market for luxury homes, with prices tending to be higher and homes selling faster. The total number of luxury homes for sale is 388, down from 425 last month. Buyers are paying above the sale price, supply is tight, and prices are rising rapidly. The market may be close to a tipping point when it comes to price growth, as house hunters will likely begin to rethink what they can afford and sellers may already be responding. 85.7% of all condominium and townhome units in Las Vegas were on the market for 30 days or less. 805 condominium and townhome units were sold in October and, by the end of the month, 583 units were available, with 0.7 months of inventory on the market. House prices in Southern Nevada rose 28.5 percent year-on-year in March, compared to 20.6 percent nationally. If you need help buying or selling a home in the greater Las Vegas area, call or text (70) 718-3878 to speak with an experienced real estate agent in Las Vegas. If you need to sell your home, call or text (70) 357-3354 for a free home value analysis. Forget about owning a couple of condos in Las Vegas and invest in a more affordable and stable real estate market like Reno.