According to a recent Las Vegas Review-Journal article, reports say that Vegas homes for sale have been lingering on the market due to unrealistic seller expectations.
Las Vegas housing has been flat the past couple months and the number of Vegas homes for sale on the market for over 60 days has risen to 57%.
Robison mentions in her article about Vegas homes for sale that nearly 29,000 Las Vegas homes were sold in the last 12 months. The average sale price of these homes was nearly identical to the list price of $114.20 per square foot, where Vegas homes for sale that are lingering on the market without offers are listed at an average of $141. These homes have been sitting for over 75 days while most Vegas homes for sale are on the market less than two months.
The 57% of the Vegas homes for sale on the market for over sixty days is still under the national average of 60 percent.
Buyers are there, but the prices are too high. The challenge is to convince sellers that their Vegas homes for sale are worth less than they thought.
When it’s time to put your house on the market or for you to look for a new home, it’s critical to have the right Las Vegas realtors on your side, realtors who know the circumstances of today’s housing market better than anyone else. If have any questions on the current status of the Las Vegas housing market, please call the experienced Las Vegas realtors of the Crighton Team at (702) 930-8850.