For sellers, this is great news as motivated buyers are looking for homes for sale and there is less competition. Prices will increase due to a shortage of supply, so if your property costs you more than it's worth, it may be time to let it go and invest your money elsewhere.
However, if you want to get the most money from the sale of your home, November is the most promising month. This may be due to the fact that when most of the country begins to experience a colder climate and prepares for winter, Nevada still has relatively mild conditions. Homeowners saw an increase of more than 7 and a half percent of the annual average in Nevada home sales in that month.
The economic collapse of a few years ago is the best example of what can happen if you have a property to sell but stay in it, hoping for a better market. Listing your house on a Thursday can increase the chances of it selling faster and for more money.
Las Vegas has experienced several booms in its history and experienced an incredible housing crash during the Great Recession. The Las Vegas real estate market forecast was as hot as the desert heat in Nevada before the coronavirus pandemic hit the state. There really isn't a better time of year to sell a house, because you're likely to make a profit with it no matter what.
As Las Vegas businesses open at full capacity, their real estate market will continue to boom with growing demand. Homes in East Las Vegas sell 6 days faster and are 91% less popular than houses in the surrounding area. During the Great Recession, Las Vegas grew from one-fifth of its residents renting to nearly two-fifths.
Just because you have the most beautiful property on the Las Vegas real estate market doesn't mean that potential buyers fall in love with it at first sight. There is a direct relationship between sales prices and the number of homes on the market, so a buyer can expect to see fewer homes on the market when prices are low.
Homebuyers might be surprised at the impact this can have on prices, and formulating a plan, with the help of a good realtor, can ensure that you buy your home at the right time.