Wednesday, May 14, 2014

The truth About the Las Vegas Real Estate Market

The real estate market in Las Vegas has been changing dramatically over the past several years.  It appears there is another shift in the landscape occurring now as well.  The number of short sales has dropped to the lowest it has been in years.  Short sales make up only 11% of the real estate sales in Las Vegas over the past month.  This is generally good for the market.  Anything that will move things back to a moral traditional market with more sales being equity sales is good for everyone. 

However, we have seen a slight pull back in the drastic price increases.  For the first time in many months we have seen the prices drop month over month.  The prices are still  higher when compared year over year but this is a significant change for Las Vegas.  If you are considering selling your investment property in the next year or two now is the time to get it done.  We could see prices sagging for another year as market continues to adjust itself to the current realities of Las Vegas. 

 

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