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Las Vegas realtor Leslie Hoke from Las Vegas Homes By Leslie is reporting the summer housing statistics for the southern Nevada real estate market. According to Hoke’s latest Blog post, the market is steady, but inventory is a little tight, indicating a seller’s market.
“Median sale prices have increased just over 8% the last 12 months. It’s a good rate of growth, but it is outpacing inflation and most peoples’ wage increases. Right now, the median sale price is $211,250, which is very affordable for a major market like Las Vegas,” Las Vegas Realtor Hoke said.
“Las Vegas has come along way since the turbulent market a few years ago. It’s hard to believe that not too long ago median prices were well over $350,000 before the bottom fell out,” said Hoke.
“One minor issue is the tight inventory. The estimate says there is three months worth of supply, which is half of what it should be. It’s not a major source of worry, it just means supply isn’t keeping pace with demand, which means we’re in a sellers market,” Hoke said.
“In a seller’s market, buyers need to make sure they’re not overpaying. Right now, a lot of sellers are asking too much for their homes, which is causing them to sit on the market for too long. About 60% of homes selling in Las Vegas in 60 days or less. Sellers need to understand that a competitive price often leads to multiple bids and higher sales prices. When a home is priced too high, it sits with no offers,” said Hoke.
To read more about the Las Vegas housing market, visit Leslie’s blog at http://www.lasvegashomesbyleslie.com/blog/las-vegas-real-estate-prices-remain-steady.html
About Leslie Hoke
Leslie Hoke is a seasoned Las Vegas Real Estate Agent and Realtor with over 11 years of experience buying and selling real estate in southern Nevada. After a successful tenure at the Disney Corporation, Leslie moved to Las Vegas to pursue her goal of a successful career in real estate. Leslie has earned several industry awards and accolades including being named “Top Las Vegas Realtor” by RE/MAX five consecutive years (2011-2015). Ms. Hoke is a member of the Greater Las Vegas Association of Realtors and National Realtor Association with certifications in short selling, condominiums, and new construction. She is known for her excellent customer communication, savvy marketing strategies, and top-notch negotiation skills. As a long-time Las Vegas resident herself, Ms. Hoke provides a wealth of local market information to help her clients reach their real estate needs.
Contact Info:
Name: Leslie Hoke
Email: lvhomes@byleslie.info
Phone: (702) 321-1763
Organization: Las Vegas Homes By Leslie
Source URL: http://www.prreach.com/pr/19925
Release ID: 90286
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