September sales remained strong with 106 guard gated sales—down just 1 sale from August. Normally, this is the time of year that sales start to taper off, but it looks like we will finish this year strong, Vegas Strong. There were 190 guard gated homes under contract as of September 30th, an increase of 19.5% over August 2020 and 77.6% over September 2019! It appears that regardless of who is elected President, there will be more stimulus coming. This leads me to believe the market will remain frothy well into next year.
Look at our Absorption Rate chart to better understand the supply and demand broken down by price point. When it comes time to price your home to sell, knowing the closed sales of comparable homes is a good starting point because buyers and their appraisers (if applicable) will be looking at them. Understanding the competition is very important. There are some sections of the market with little to no inventory of certain types of homes. This creates an opportunity to push for a higher price than you may have initially expected.
Open house restrictions due to COVID-19 have been loosened. Open houses are now allowed with one party at a time, and we look forward to meeting you at one. If you find that the front door is locked and there’s a note asking you to wait until the current showing ends, just know that we’re following the new guidelines. We promise we will get to you as quickly as possible. Drop us a line if you’d like to get on our open house email list. If you’d prefer not to wait until the weekend, give us a call, and we’ll schedule you a private showing appointment.