Area Real Estate News & Market Trends

You’ll find my blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because I care about the community and want to help you find your place in it. Please reach out if you have any questions at all. I’d love to talk with you!  

Click on the link below to find out real estate news and market trends.

Las Vegas Market Summary Report


June 15, 2022

Are Home Prices Normalizing?

Are prices normalizing? What's the deal? Check out the information below to learn about recent price news.

"The slowdown in sales and increase in our housing supply are signs that things  may be starting to calm down a bit,” LV Realtors president Brandon Roberts said in a release this month.

“Price cut.” It’s a phrase that’s been absent from Southern Nevada’s real estate vernacular in recent times. But it doesn’t take more than a glance at Zillow to see that sellers are slashing their sometimes unrealistic visions of cashing in on the frenzy.

“In March of this year, we had 2,000 homes for sale on the Multiple Listing Service. Today we have 4,500. And last week alone, we took 900 price reductions,” says Diane Varney, a real estate agent with Coldwell Banker, who says she’s been waiting for the market to normalize. “I love this.”

But don’t expect the bottom to fall out.

“Those homes were overpriced,” Varney says of the 900 discounted properties. “Anything priced properly would sell.”

The median price of a single-family home set a new record in May at $482,000, up 25.2% from a year ago, according to Las Vegas Realtors.

But from May to March, escrow openings have fallen by 50%, according to an escrow executive who asked not to be named. “Purchase agreements and refinances are almost non-existent,” she said.

“It’s not like a frenzy or anything, but there seem to be more buyers starting to cancel, not caring about their earnest money deposit,” LV Realtors president Brandon Roberts said in a statement to the Current."

“The slowdown in sales and increase in our housing supply are signs that things may be starting to calm down a bit,” Roberts said in a release this month.

“Even though prices are still going up, it’s welcome news for potential buyers to see more homes on the market. As we’ve been saying for months, the rate of appreciation we’ve seen over the past year or two seems unstainable.”

LVR reported 3,570 single-family homes on the market without an offer at the end of May.  That’s up 76% from a year ago. Sales were down almost 9% from a year ago. About a third of all buyers in May paid cash.

Inflation, higher interest rates, and economic uncertainty are slowing the market across the country, according to experts who say people who have money are holding on to it, while those of lesser means can no longer afford a house payment.

“Their buying power has been cut by a third,” says Varney. The Federal Reserve, which has raised interest rates twice in recent months, is expected to raise the benchmark rate by three-quarters of a point this week.

Varney says it’s the high-end market that will likely be hurt most by the economy. “That’s a good thing, because the high-end market was a huge factor in raising our average sales price.”

Demand has been down for five months in Charlotte, North Carolina, according to Anne Marie DeCatsye, CEO of Charlotte’s realtors’ association, who spoke on a panel Tuesday presented by the National Association of Realtors.

“I think we’re going to see sellers who waited, maybe start to reconsider and come on line this summer with their listings,” she says. ”But buyers are going to be a little bit more conscious of their budget.”

Even with the market leveling, affordability is elusive.

“There’s literally nothing under $300,000, which really concerns us,” she said, adding her association is going to work with local governments on solutions.

Builders in Denver, faced with supply chain issues and the rising cost of building materials, are turning to multifamily dwellings as a way to maximize their investment, according to Nobu Hata, CEO of the Denver Realtors Association. Development is also expanding outward from the heart of the city.

“We’re kind of the same as the Denver area because we stretched out so much of the Las Vegas/Clark County area,” said Wendy DiVecchio, CEO of LVR. “We’re getting more and more of that build out in the suburbs – past Summerlin, up towards Mount Charleston, up towards Aliante, up towards Mesquite. And then with Apex – Apex is going to be huge.”

DiVecchio says the industrial area north of Las Vegas will soon be the site of “thousands and thousands of homes.”

The median price of a home is expected to top $500,000 this year, according to DiVecchio, who discounted talk of the market shifting to favor buyers. “We have houses hit the market and we have people getting offers. We don’t see it slowing down here,” she said, adding maybe “for a second or two."

Article Sourced from Nevada Current.

June 1, 2022

Home Price Increase Will Soon Slow Down, So Now is The Time To Sell

The rise of home prices has defied expectations in recent months, but that trend is likely to change soon. Still, the change isn't anything to be concerned about—it's a good thing for sellers.

"Home values continue to rise across the nation, but at a slower rate than the last few years.”

With the home market continuing to rise, it’s no wonder that you want to sell your house and make some money from your investment. After all, selling a house has long been considered one of the most lucrative sources of income for homeowners. And with good reason: according to data from real estate website Zillow, the median value of homes in America increased by almost $10,000 between May 2017 and May 2018 (a 5% increase).

But before you put your home on the market and start shopping around for a new place, keep in mind that while prices are still increasing at a healthy rate compared with historical averages, they will grow more slowly than they have over the past few years—so now may be an ideal time to sell!

“We think it will be slower appreciation going forward.”

Why are home prices rising?

  • Baby Boomers are retiring and downsizing, which allows them to sell their homes and move into smaller spaces. This is creating a lot of demand for smaller houses in the suburbs.

  • Millennials are getting older and starting to think about buying their first home, but they're having trouble saving enough money for a down payment. As a result, they're competing with other buyers for starter properties in the city center.

Who will benefit from this trend?

  • Investors who bought property during the recession or last year may be able to turn around and sell it for more money than what they paid for it because of increased demand.

What does this mean for future real estate sales?

  • It means that if you've been thinking about selling your home now is the time.

So don’t wait for prices to go down. Sell soon, before prices fall again and you miss out on the chance to make money.

Dec. 5, 2020

3 MUST DO'S before listing your home

I am going to give you 3 MUST DO's before listing your house to obtain TOP DOLLAR.

Step 1: Clean and declutter

It may sound obvious, but the importance of cleaning and decluttering cannot be overstated. Here are some ideas to make this process nearly painless.

Eliminate clutter before cleaning: This is the time to purge your house of unwanted and unnecessary items. Gather items to donate or pull them out to the curb on bulk trash days.

Deep-clean your house: Time to do some DEEP CLEANING.  Pay special attention to kitchens and bathrooms, get the carpet cleaned, and clean the inside and outside of your windows — this makes a striking improvement in the overall appearance of your house.

Organize closets, cabinets and drawers: Many potential buyers will want to see the interiors of cabinets and closets to assess the amount of storage space, and these are often the most cluttered areas in your home.

Step 2: Make small repairs

Take care of these problems before you take listing photos or get ready for showings.  Although it might be a small repair, the buyer might not see it that way or might not want to deal with the headache. 

Step 3: Go for curb appeal

You want potential buyers to be charmed by the outside of your house so they look forward to seeing the inside.  Make sure the windows are clean, the grass is cut, and the trees are trimmed. 

With just a moderate amount of effort, you can make your house beautiful and welcoming, both inside and out.  With a few easy steps I can HELP you get your home SOLD!


Nov. 30, 2020

Loan Limits have increased for 2021

Buyer's I have GREAT NEWS!!!

Conventional loans limits have INCREASED for 2021.  The limits will increase from $510,400 to $548,250 in 2021. 

FHA has also INCREASED it's limits from $331,760 to $356,362 for 2021.

Thanks to this increase buyer's now have more purchasing power.

Nov. 30, 2020

Is the Real Estate bubble about to burst?

If you've been considering selling your property, don't waste any more time and CONTACT ME.  Inventory is at an ALL TIME LOW!!

I have seen an INCREASE in NOTICE OF DEFAULTS in the Las Vegas area, which could flood the market and DECREASE YOUR PROPERTIES VALUE

Nationwide, there are $21 million unemployed Americans, 6.6% of all mortgages are in some state of DELINQUENCY. which is an equivalent of $3.3 million homes.  This has nearly doubled in the last 9 months, according to the Chief Economist at Corelogic.




Nov. 8, 2020

Las Vegas Housing Market

Today, Southern Nevada’s housing market is again seeing increased activity despite the pandemic because of record low mortgage rates.  Buyer's are able to lock in lower rates and affordable monthly payments.  The national average rate on a 30-year home loan last month was 2.83 percent, down from 3.69 percent a year earlier.

The median sales price of previously owned single-family homes set a record for the fifth consecutive month in October, at $340,200, up nearly 11 percent year over year, according to the Las Vegas Realtors Association.

Seller's are receiving multiple offers and selling their home quickly.

LET'S GET YOUR HOME SOLD!!!  To make an appointment you can call, email, or text me.



July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? Every month I review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. I’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact me for clarification or to have any questions answered.

I can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out the INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, I hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates