Las Vegas area real estate hit a new high in July. The average sale price of $295,955 is a high point that we haven’t seen for a long, long time, exceeding the previous high from May 2019 by a bit over $400. The number of homes sold increased as well, to 6,408 up 71 homes from June.
The number of homes offered on the market decreased slightly from June, from 19,251 to 19,238. Although inventory has increased fairly steadily over the past few years, buyer demand seems to be doing a pretty good job keeping up, and it has been a good summer for the Las Vegas real estate market. Interest rates have dropped a bit, so it will be interesting to see what happens in the next few months; will we see the usual cooling that generally happens this time of year, or will lower interest rates stimulate buyers?
Lower interest rates mean now is a great time to buy a house. Give us a call, text or email and let your Las Vegas Home Specialists show you how to buy your dream home!