How Quickly Do Homes Sell in Las Vegas?

On average, homes in Las Vegas are sold after 16 days on the market, a slight decrease from 17 days last year. In May of this year, 2,160 homes were sold, up from 2,461 in the same month of the previous year. This indicates that Las Vegas is a seller's market, meaning that prices tend to be higher and homes sell faster. February saw another month of growth for the Las Vegas real estate market, with home prices continuing to rise and inventory remaining low.

The reason for this is that developers who survived the Great Recession are maximizing their profits by building luxury homes instead of affordable housing. If you're looking to sell your home in Nevada, you need someone on your side who is an experienced negotiator. Additionally, 76.7% of all condos and townhomes sold were only on the market for 30 days or less. The first half of the previous year saw a huge increase in demand for housing in Las Vegas, Nevada.

It all depends on how much you want to spend and what type of property you're looking for - smaller investment properties or larger offerings such as duplexes and triplexes in class A neighborhoods. Home sales fell sharply in both April and May 26 compared to the previous month and year due to the coronavirus outbreak and the state's stay-at-home order. 88.6 percent of homes sold last month had been on the market for 30 days or less, compared to approximately 86.9 percent of homes in May last year. The Las Vegas real estate market continues to attract many buyers from other states such as California and New York.

It's important to note that this 42-day figure doesn't include the closing of a house, the search for a real estate agent, or any other part of the home sale process - just the actual advertisement for the house itself. During the Great Recession, Las Vegas grew from one-fifth of its residents renting to nearly two-fifths. If you need help selling your home in Las Vegas or the Henderson area, call or text (70) 357-3354 to receive a free home value analysis.

Real estate market reports are calculated by Rocket Homes Real Estate and are based on information from the MLS. With this data, it's easy to see that Las Vegas is a great place to buy or sell a home quickly and easily.