Nevada real estate market guide: when to sell your property?

by Glenn Maxwell

Nevada real estate market guide

Many questions pop up if you’re unfamiliar with Nevada’s real estate industry. The real estate market is hard to navigate alone. Except for organizational moments, possible renovations, and estimations, there is a big question of timing. The real estate market has its ups and downs, and no one wants to overpay or sell their property for a small price.

Nevada has different tendencies on the market compared to other states. Climate, the tourism industry, and many other factors affect when it’s the best time for selling. By consulting with realtors in Nevada, you can learn the best times to sell a house and when it would be more profitable and fast. From consultation with a professional, you can understand more about how to navigate the market, the current prices, when you can gain more, and when, on the contrary, you might not sell a house for cheap.

Many factors will determine the final price and the best season for selling the property. The timing plays a significant role in different neighborhoods. Statistics show that June is the best month for selling in Nevada, but a good realtor in Las Vegas will tell you that November is better.

Before you decide when to sell a house in Nevada state, answer some simple questions.

Do you know enough about the market?

As stated earlier, knowing the market is crucial when planning to invest in the estate or sell it. Researching the current prices in your area, the difference between the neighborhoods and the season will show you who has more advantage on the market at the present moment. That way, when the number of buyers is way higher than offerings, the sellers have an advantage. You can sell a house way faster and profit from the deal in those moments. On the other hand, when the buyers are not active, you can spend months trying to close the deal and might agree on price negotiations.

Should you hire a real estate agent?

Another question many homeowners ask themselves is whether or not they should use the help of the agent. While the real estate agents in Nevada charge about 6% of the final sailing price for their commission, having an agent might be beneficial. Agents have access to the databases that can give you a better perspective on the pricing policy. On average, people who use a real estate agent’s services close the listing 20 days faster than those who are trying to sell on their own. As well, with the agent’s assistance, you can get great insights on how to make your property more attractive to the buyers.

On the other hand, if you research the market beforehand, you can quickly sell your house without paying a commission. For example, if you’re located in Las Vegas. Paradise or Spring Valley, and you know the peak season for the housing market, you’ll get the deal even with no help. In the major cities, property rarely stays on the market for very long. However, for those seeking to sell their estate in more rural areas or smaller towns, it might be more beneficial to use the services of a professional, especially if the timing is a priority for you.

Can you take advantage of the seasonal sale?

There are some things to consider during each season. In the spring, the demand from buyers peaks, but the competition between sellers is not as high as during the summer season. Depending on your listing, a family will try to close the deal by the beginning of the school year. If your house matches your needs, it would be wiser to start the process in May.

On the other hand, during the fall season, seller competition is decreasing while plenty of buyers are out there. Winter is considered the slowest season due to climate change and holiday seasons. At the same time, off-season buyers always search for suitable property investments. All those moments you should consider when getting the house ready. Think more about who would be the perfect buyer and when those people usually search for a new home.

Statistics show us that the best month to sell the house fast would be June, with an average of 40 days on the market.

Is a house an investment or not?

There are different sellers, and their goals for selling a house usually vary. Some people have to move out of state or relocate to a different town due to work. When others are constantly investing in the property, if you consider your house investment, you can benefit from the time and season when you can gain as much profit as possible from the selling. If there is no rush and deadlines, why not explore the market to make it as beneficial for you as possible.

And finally, get advice from an expert!

In any case, if you have a lot of time on your hands, it would be helpful to talk to an expert in your area. Of course, the real estate market is different in each city and even in the areas of Las Vegas. The real estate agent can make the sale as profitable as possible. Some life situations require urgent solutions, and you can’t afford to wait for May to put your listing. A good realtor can help you find a great deal at any time of the year, no matter the selling purposes. Remember, knowing the market means being in control.

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