Wednesday, March 10, 2021 / by Ken Couture
A rare opportunity for sellers to get top dollar is being created as home prices in Nevada set new records.
These conditions will benefit the seller but may make it more competitive for sales agents.
“Real estate has always been a hobby for me, I spent a majority of my time on the weekend looking at open houses,” says Gerald Kimble.
Kimble recently relocated to Las Vegas from Birmingham, Alabama due to work, and he couldn’t help but notice what’s been going on with the state’s real estate market.
“Things are consistently rising here, it’s an exciting time to be in the market here in Las Vegas,” says Kimble.
“Inventory is really low, as fast as things go on the market you have multiple offers, so it’s definitely a seller's market,” says Kimble.
According to Las Vegas Realtors, the median home price for single-family homes in Southern Nevada was $355,000 in February 2021.
This breaks an all-time record set last November, and it had remained unchanged until now.
Despite the pandemic, it’s just over a 12% increase from February of 2020.
“They’re never shy in telling me their reasons for coming to the state of Nevada, but I think property values have a little to do with that,” says Federwitz.
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