Monday, October 12, 2015
Sellers's Market in Las Vegas even thought prices have been leveling off
Las Vegas real estate is still in a sellers market and it likely will be for some time. However, the prices of real estate have started to level off. The 10% and 15% gains seen in the past few years are not longer the norm. Prices now are predicted to stay fairly stable except in a few prime areas. Even in these areas the price increases are going to be much smaller. The inventory that is on the market today is tending to stay on the market longer and it is is need of greater price reductions. This market will eliminate just about anyone that has no motivation to sell and that was just looking for getting the highest price possible. As the inventory has increased, buyers have many more choices, even though we are still considered a sellers market, prices are not much higher this year than they were last year. It is still a good time to sell because the inventory levels are still low compared to average but they are not excessively low as they have been in the past.