Las Vegas Real Estate Stabilizing

The Las Vegas real estate market has been hot over the past few months.  It appears the heat just like summer is leaving.  The Greater Las Vegas Association of Realtors announced yesterday that the average home price in September was down 1.1% from August 2013. 

There are several reasons this may be.  I can attest that as an active Realtor in Las Vegas I have seen some neighborhoods that have dropped a couple thousand dollars but this is certainly not across the board.  I expect the main reason in the average price dropping is that more lower priced homes were sold and fewer higher priced homes.  When you average it this will show a slight drop.  Prices certainly are stable and are not falling like a brick. 

As a Realtor in Las Vegas my main objective, besides providing the best service to my clients, is keeping a pulse on the market.  The market started cooling in the middle of August and is not chugging along with no help from the government shutdown but I will save that for another post.

If you have been thinking of selling, now is a great time as prices are up significantly for the year.  Las Vegas real estate is stabilizing and you can get a free report on the current value of your home here.