As we drift into the back half of summer (hello, August), I keep hearing the same big question from sellers: “is it still a seller’s market?” And like all great real estate answers, this one starts with: “It depends.”
The market is shifting, friends—and while it’s not all doom and gloom, sellers aren’t quite in the driver’s seat like they used to be. So let’s unpack the trends, sip some iced coffee, and chat about what this means for YOU.
Let’s Talk Price Drops
Okay, real talk: price reductions are becoming more common across the country.
After the wild, “blink-and-it’s-sold” days of the past few years, buyers are slowing their roll. They’re thoughtful, strategic, and not afraid to wait a little for the right deal. That means homes that are overpriced or need some TLC? Yep—they’re sitting longer. And sellers are trimming those price tags to stay competitive.
In Vegas, we’re seeing this firsthand—inventory is up big time (like, nearly 70% year-over-year!) and homes are taking about 40 days to sell on average. That’s over a week slower than last summer.
So pricing it right from the get-go? Chef’s kiss.
Are Buyers Still Rushing In? Kinda… But Not Like Before
Buyer urgency has cooled off just a tad. Think “strategic summer shopping” instead of “Black Friday stampede.” They’re taking their time, shopping around, and—gasp—sometimes even asking for repairs or closing cost help. But! There’s still motivation out there.
Folks who want to move before school starts (or pumpkin spice season hits) are still showing up ready to go—especially for well-priced, move-in ready homes. And here in the Vegas Valley? Listings in neighborhoods like Summerlin, Green Valley, and Southern Highlands are still hot if they sparkle and shine.
Fall Forecast: A Little More Balance in the Air
As we turn the corner into fall, the market is showing signs of balance. That’s Realtor-code for: Homes might take a little longer to sell, buyers are pickier and asking for more, and price cuts and seller incentives are becoming the new normal.
This doesn’t mean it’s a bad time to sell—but it does mean strategy is everything. If your home shines bright, is priced just right, and comes with a touch of flexibility? You’re golden. In fact, Fannie Mae released their latest prediction in July, and they’re expecting mortgage rates to head down—yes, down!
Here’s what they’re forecasting:
- 6.4% by the end of 2025
- 6.0% by the end of 2026
What does that mean for you, dear seller? If rates do drop, we could see a big wave of new buyers entering the market. In fact, 160,000 renters are expected to become homeowners thanks to more affordable financing. Of course—no one has a crystal ball, but this is a super encouraging sign for first-time buyers and sellers thinking about the long game.
Late Summer Seller Tips
Thinking about selling before the Halloween decorations hit the stores? Here’s how to make your move with confidence:
- Nail the Price from Day One – First impressions matter!
- Stage to Impress – Clean, cozy, and clutter-free sells.
- Add a Sweetener – Think: rate buy-downs or a credit for closing costs.
- Call Me, Maybe? – Your favorite local agent (that’s me!) knows what’s up in your neighborhood.
There’s Still Opportunity
Whether you’re dreaming of a beach vacay or packing boxes for your next big adventure, late-summer sellers should know there may be more homes, which means more competition, price reductions, buyer power, but lots of opportunity!
Thinking of listing soon? I’d love to be your partner in crime. Let’s make a plan, toast with guac and a marg, and get your home ready for its next chapter!
Anytime between “now” and “right now” is a good time to take action on shaping your best life, and that includes where you live. Let’s get the ball rolling on your next steps.
(702) 374-6807. Or drop me a line here.
