Rally in the 3rd Quarter?

BY KIMBERLY SMITH

As we close out the third quarter of 2024, the Las Vegas housing market continues to show resilience despite shifting trends. Last month, there were 5,076 homes on the market — and this month that number has grown to 5,398. However, the number of homes sold has slowed, with 2,043 homes sold in August, dropping to 1,730 homes sold in September. 

Currently, the luxury market remains robust, with 901 homes listed at over $1 million. For buyers seeking properties between $500,000 and $999,000, there are 2,307 homes available, while 2,124 homes are priced between $300,000 and $499,000. Affordable housing remains scarce, with only 40 properties on the market priced under $299,000. 

Distressed properties, though fewer than in previous years, still present opportunities for buyers — with 17 short sales and 25 bank-owned homes available. 

As we move into the final quarter of 2024, it will be interesting to see how the market adjusts to economic conditions and buyer demand. 

As an African American realtor, I’m dedicated to helping my community navigate the complexities of the housing market. Whether you’re a first-time buyer or looking to upgrade, I’m here to provide personalized guidance and support every step of the way. 

Together, let’s turn your homeownership aspirations into reality. Contact me today to embark on your journey to homeownership in Nevada.

Homeownership is possible! Call Kimberly Smith, Broker Salesperson with King Realtor Group at (702) 291-7098 | www.kimberlysmith.realtor | NV.Lic. No. BS.146388