What Is Your “I’d Be Crazy Not To Sell” Price? It might not be so crazy! Is It Time To Sell? Is It Time To Buy?
Median Prices are higher. As prices rise, first time home buyers may be priced out of the market. Sellers are still in control.
Inventory has been low. However, inventory is currently rising to the January level. Is it due to summer time? Are more Sellers deciding to sell?
Sellers may decide to cash out with more equity to buy more home or a newer home while interest rates are low.
Many Sellers can buy larger, newer homes without having a larger mortgage payment.
Sellers may have more money for a healthy down payment and then the new mortgage payment will be even lower than their previous mortgage payment.
The Million $ homes are selling faster than last year with more high-end Sellers selling their homes in less time for higher prices.
Sellers have been in command of the high-end market.
The Sellers are experiencing multiple offers and many are “all cash offers” with no contingencies.
NEWCOMERS TO CLARK COUNTY
Over 44% of newcomers are from California. Nevada is experiencing 130 newcomers every day. Climate, low taxes, and more affordable newer homes are main reasons for the influx of newcomers.
WHERE ARE RETIREES MOVING?
Nevada is #9 on the list of where retirees are moving. Nevada cities, Henderson and Paradise, which are part of the Greater Las Valley are #3 and #5, respectively.
PRICES MAY STABILIZE SOON
How does all this data affect the market? We look forward to prices stabilizing as all these factors start intersecting.
Many homeowners who wanted to upsize, downsize, or move to a new market were reluctant to list their home for sale, fearing that they would be unable to buy on the other side of the transaction.
However, as inventory improves and the market stabilizes, it may be time to start looking at available homes in your chosen neighborhood.