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Stacy Sheeley

2022 Year in Review – Las Vegas Housing Market Update

Year-End Summary We ended 2022 at the same median sales price of $425,000 that we ended with in December of 2021.  Besides entering what is usually the slowest time of year for the housing market, rising mortgage interest rates have caused a contraction of sales. At the same time, we know that the housing market is cyclical and that the bottom is not falling out.  This would be indicative of the median sale price being close to what it was at pre-pandemic levels. With prices leveling off and more homes available for sale, we’re seeing a more balanced market that makes

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Stacy Sheeley

Is it still a good time to sell your home?

The short answer is “yes.”  Overall, home prices are still up 2% over the same time last year.  They are expected to go back to pre-pandemic levels which are still historically high.  There is Buyer demand – especially for highly desirable homes and in all price ranges. November Market Report Local home prices are starting to look more like they did a year ago.  But we’re certainly in a different place than we were last year, when prices were soaring and setting records.  Of course, as we said at the time, those conditions were unsustainable.  Las Vegas Realtors reported that

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Stacy Sheeley

What happened in real estate in October 2022

It’s a great time to be a homebuyer in Las Vegas!  With 140% more homes to choose from than the same time last year, the market has become much more balanced.  Sales prices are still up over 7% from October of last year.  For homeowners who have been on the fence about making a move, now is still a good time to sell and take advantage of increased equity. So what happened in the Las Vegas Real Estate Market in October? Median Home Price $440,000  +7.3% from October 2021 Homes Sold 1,724  -44% from October 2021 Homes Without Offers 7,906 

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