5 Things to Know about a Las Vegas Seller’s MarketNews Home
Have you considered trading in your suburban villa and checking out Life at the Top? Now is the time. It’s a Las Vegas seller’s market, which means you’ve got the upper hand. But before you stick a “FOR SALE” sign on your lawn, there are a few things you should know about the Las Vegas Real estate market in 2017.
5 THINGS YOU SHOULD KNOW ABOUT A LAS VEGAS SELLER’S MARKET
WHAT A SELLER’S MARKET MEANS
Basically, a Las Vegas seller’s market favors sellers. If you’re putting a property on the market before purchasing your luxury home, you’re in luck. However, things get a little more tricky for first-time home buyers.
Seller’s markets favor those listing properties because the demand is higher than the current supply. For those familiar with Las Vegas real estate market trends, a seller’s market brings panic after the housing crisis. However, Las Vegas housing marketing predictions in 2017 show market growth is slower than it was back then. Experts say this is a sign the market is stable.
SALES HAVEN’T DROPPED, DESPITE LIGHT INVENTORY
You’re probably thinking, “A Las Vegas seller’s market probably means house sales are low.” We see where you’re coming from—low supply means less to sell, thus low sales. But not quite. Despite the light inventory in the valley, home sales are still up from last year.
The problem with a seller’s market comes when families are looking for lower priced homes. Property values are enjoying a healthy appreciation right now. However, families are still willing to buy because the local economy and job availability are growing.
TIMING IS EVERYTHING
Moving from the suburbs to Life at the Top takes expert timing, according to Las Vegas market predictions in 2017. Have a mortgage lined up, so when you find a property in your luxury neighborhood that looks like home, you have the cash on hand. Once you’ve put an offer in, it’s time to get moving and put your current home up for sale.
It’s better to have your home in the system for sale once you know where you’re moving, so you’re not left out in the cold. However, since properties are being scooped up fast, be ready to get a move on at the drop of a hat.
A REAL ESTATE AGENT IS STILL A VALUABLE RESOURCE
A common misconception about a Las Vegas seller’s market is property holders can demand inflated prices without offering much in return. Although Lady Luck favors sellers, home buyers want some bang for their buck. A real estate agent is a valuable resource for information like fair pricing, home touch-ups, and more.
According to the Las Vegas real estate market in 2017, many people opt to sell their own home after meeting with an agent. Whatever you decide is up to you, but it’s worth meeting with an experienced seller so you don’t walk away with too little or miss out on a great opportunity for demanding too much.
THERE’S STILL PLENTY OF ROOM TO LIVE A LIFE AT THE TOP
Don’t like what’s on the market? Build it! No matter what the real estate market looks like, there’s always plenty of room to live a Life at the Top. Contact MacDonald Highlands to find out what properties are available to build on or buy.