2018 is kicking off with great news for Las Vegas: the city’s housing prices are climbing at one of the fastest rates in the nation.
Greater Las Vegas Association of Realtors (GLVAR) reported last month that 2017 was one of the best years on record for local home sales. Data confirms monthly sales totals rose nine times year-over-year from 2016 alone, with median sales prices also climbing at a consistent rate. Las Vegas now joins Seattle as the only two metros in the country enjoying annual housing price growth in the double digits. It’s no wonder CNBC named this city among the healthiest housing markets in the country.
Even better, experts say these prices will rise higher in 2018. The index committee at S&P Dow Jones Indices credits this continuing growth to a number of factors, including an improved economy, low interest rates, increasing demand for homes and tighter inventory of listings to meet buyer needs. Less home inventory means less competition for sellers, who are reaping higher sales prices than ever amid the demand.
As a seller’s market, there’s no better time than now to list your home. Luxury Estates International broker and founder Kamran Zand understands best how to leverage this market in your favor with proven strategies, including partnerships with chinese-market resource Caimeiju and the leader in professional athlete relocation, SportStar Relocation.
It’s time to align yourself with an agent that can get you the best results possible. Contact Kamran Zand now to start the year off right.
For more in-depth information, view the 2018 Las Vegas Market Update Report.