How Do We Know If We Are In A Buyers Market, Sellers Market or a Balanced Market?

In a balanced real estate market demand matches the supply of for-sale homes in the marketplace and is usually between 3-6 months of inventory, a buyers market is usually more than 6 months of inventory and a sellers market is less than 3 months of inventory. Since 2020 we’ve had an average of a .5 inventory, so we’ve been in a historically high sellers market, but the market is cyclical, so for Las Vegas in July 2022 we had 3.5 months of inventory according to Las Vegas Realtor data. So you might ask yourself what does that mean for buyers and sellers overall and what does that mean for buyers and sellers in Las Vegas?…

▪️Buyers tend to place reasonable offers on homes and sellers tend to accept them.

▪️Homes remain on the market for a moderate amount of time — neither lagging for months nor getting snapped up in mere hours or days.

▪️Home prices remain stable, or grow at a steady pace.

So in Las Vegas that means for buyers are seeing less competition and sellers will be more willing to make a deal, so you can start requesting closing costs again!

For sellers this means pricing your home less aggressive and marketing your property as best as possible. So make sure you work with the best realtors.

What we do know is it’s a whole new ball game ⚾️ in the Las Vegas real estate market. 🏡 📈

Contact us today if you have any questions!

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