Bye Bye 2022
If you’ve stopped by LUXE BLOG before, you know my pleasure to serve as your resource for up-to-date information about the Las Vegas real estate market. Whether you’re looking to purchase or sell a house in the Las Vegas Valley, it’s crucial to be abreast of the market’s current conditions. Thus, once again, I have come to update you on the current numbers.
In my update on December 5th, there were 7,121 single family homes for sale in the Las Vegas Valley. That was down from 7,483 from the week before. Additionally, we were monitoring a downward trend in the amount of inventory on the market. With that said, it isn’t unusual for inventory to get lower during the holidays. Is this going trend into 2023? Who knows?
The Latest Numbers
As of the week of December 26th, there were 6,549 single family homes for sale in the entire valley. So once, again, we see a downward trend in Las Vegas properties for sale. As a real estate professional, I cannot claim to know the future. What I can say, however, is that it is good news to see the market stabilizing some. And I know, I know, there will be skeptics. And I also know, due to the 2008 crisis, lenders were very careful with whom they lent money to over the past decade. What does this mean? It means that not only do people have massive equity from the post-pandemic boom, it means they are very secure borrowers.
As We Head Into 2023
As we head into the year of 2023, it will be interesting to see what happens with the market. From condos for sale at Veer Towers to luxury homes in the master-planned community of Summerlin, I understand the market. As a Realtor, it is my duty and goal to help buyers not overpay for a piece of real estate. If you want to win in the dynamic place we call Sin City, I’ll be here to show you the way. Thank you for reading.