April 2019 Las Vegas/Henderson Real Estate Market Update
Good afternoon. It's a sunny warm day in Las Vegas, which can only mean one thing. Summer is upon us, but before we jump too far ahead let's look and see how the real estate market performed in one of our prime spring selling months, April, 2019.
At the end of April, active inventory of single-family detached homes was at a very healthy and balanced level of 7,435. That's almost 5% higher than the end of March and still substantially higher than the same time last year. We saw about 4,309 new listings hit the market in April down about 2% from the month before and up almost 15% from April of 2018. Home sales were on fire in April with 2,872 closings, which was up a whopping 9.6% from the month prior and just about flat from the same time last year. Not much movement in the median home sales price, still tracking flat over the past several months at about $300,000, but still up almost 4% from this time last year. Even with inventory slightly higher than last month, almost 5% more homes went into contract within 0 to 30 days from its list date compared to March.
All the market stats are very promising, but if you're planning on listing your home in the current market, here are a few quick tips:
- Be very aware of the sales comps around you and how you're comparing them to your particular home.
- Don't over price your home or it's gonna likely stay in the market for a while and you may settle for less at the end of the day.
- Be very diligent in preparing your home for sale, this will only result in a better sales price in a faster amount of time for you.
- Touch up your paint, declutter, trim and enhance landscaping and your curb appeal, professionally clean your floors, etc. etc.
- Make your home as inviting and as pleasant as you can for the buyers. Trust me you'll see a huge difference at the end of the day.
- Lastly, make it easy for buyers to see your home. There's a lot more competition out there compared to last year, and your listing isn't the only one available, so be that seller that's really serious about selling your home.
As always I'm available for your questions at inquiries anytime. Happy to help you however I can. Until next time, take care.