Las Vegas Home Statistics for April 2012

According to the Greater Las Vegas Association’s

April statistics it appears that the average price of Single Family Homes sold here in the Las Vegas Valley showed an increase in value of 4.9% from last month (March) …….  THAT’S HUGE for us. For the longest time we have been so use to seeing the average price of homes drop drop drop. So to see some signs that “may be” the Las Vegas housing market, not only is starting to stabilize, but also showing signs of potentially coming back is just GREAT.

Are we out of the wood just yet.

No I don’t believe so, but we have to start some where. What I think is pushing the home prices up is the low inventory that we have here in Las Vegas and Henderson (now less that 5000 active listings). Cash buyers coming in and competing with other cash buyers and forcing multiple offer situations is also pushing prices above the list prices. The banks are also contributing to the home price increases by holding back on their surplus inventory.
If you are looking to buy a home in Las Vegas, then the best advice I can give you is this. If you see a home that you like and the comps are telling you that it is reasonable priced then don’t haggle, don’t make low ball offers and do move quickly. Otherwise, in this current market and with inventory so low, you will miss out on that home of your dreams.

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