Las Vegas/Henderson real estate market starts off 2021 – low inventory and fierce competition
Housing demand trends continue at an impressive pace with the combination of low interest rates, increasing rent prices, and a lack of inventory of homes. Buyers want affordable living, low property tax and our tax benefits. Las Vegas, Henderson & Boulder City property values are up!
People want to redefine how they live, and moving and upgrading to a new home does that, so if you are thinking of selling in 2021, you are in the driver’s seat! See some of the reasons below:
- You have equity!! Values are up 21% in some zip codes compared to last year.
- We are the lowest we have been on housing inventory in the past 40 years. Most desirable properties have lower days on the market and are selling above list price, making it an ideal time to sell your property.
- High demand of buyers. People are working remotely and need a home office or yard for kids, relocation buyers, first time home buyers, investors, and retirees are all looking for a tax-friendly environment.
- Historically low interest rates are allowing more buyers to get into the market and borrow cheap money with approx. 2.75% interest rates locked in for 30 years.
The pandemic buying frenzy has given sellers the advantage, with home prices rising by double-digit percentages annually in some zip codes. But… the low rates are bringing benefits to the buyers as well.
Your property is in demand.
Now may be the time to cash in on your equity before more added inventory is added to the market once people realize that they will have to list their home for sale since they have equity but may have lost income due to the pandemic.
Let’s talk about the current real estate conditions and how it affects you as a buyer or a seller, contact me.
Curious what your current home value is?
Check out these stats on the current market below.
Zip code appreciation map Dec 2020
Median sales price
Months of supply
Thinking of selling and want to discuss the market? Contact me today.