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What Does Being in a Sellers’ Market Mean?

by Bethany Schilder

Whether or not you’ve been following the real estate market here in Las Vegas lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. Not just in the Vegas valley, but the nation overall. But what does that really mean? And why are conditions today so good for people who want to list their house?

What Does Being in a Sellers’ Market Mean? | MyKCM

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. That report shows we have a 2.6-month supply of homes or so at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph above): When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer. As this happens, home prices rise, and sellers are in the best position to negotiate deals that meet their ideal terms.

Right now, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and the ongoing rise in remote work have prompted buyers to think differently about where they live – and they’re taking action. If you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

Today’s ultimate sellers’ market holds great opportunities for homeowners ready to make a move. Listing your house now will maximize your exposure to serious buyers who will actively compete against each other to purchase it. Let’s connect to discuss how to jumpstart the selling process.

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.

Filed Under: For Buyers, For Sellers, Real Estate Tagged With: Buying a home, las vegas real estate, Las Vegas Real Estate Market Stats, seller's market, selling a home

About Bethany Schilder

My name is Bethany Schilder and I am a connector! My mission is to help connect busy families with their 'home sweet home’ in Las Vegas. As a native of Las Vegas, I know the various communities and neighborhoods across the Valley like the back of my hand, and bring that expertise in pricing and marketing homes for sale and for finding the perfect spot to nest. I'm always up for chips and guac', wine pairing, or brunch (and can recommend the best places to enjoy them all...!)

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Bethany Schilder
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