2022 is off to a strong start. In the first quarter, there were 394 closed sales for single-family homes priced $1,000,000 and up in Las Vegas and Henderson—up 18% from Q1 2021 and up 300% from Q1 2019! The ultra-luxury segment (homes priced $4,000,000+) saw 25 sales in the first quarter, only a slight increase from the 24 sold in Q1 2021. However, when you compare this to the 5 sales in Q1 2020 and 4 sales in Q1 2019, you can see how much this segment of the market has grown—especially considering the high-end homes that are currently under construction. If you’d like to see all of the quarterly stats broken down for the last 4 years by property type, please reach out to us.
Compared to February, guard-gated sales for March showed a 5.3% uptick in inventory and an 11% increase in pending sales. This is expected as we begin to roll into the spring selling season. Year over year, however, inventory was down 6.3% and pending sales were down 33.5% in March.
Even as interest rates continue to rise, 2022 will remain a seller’s market due to low inventory and strong demand. When it comes to getting our clients top dollar, these favorable market conditions are helpful. However, we are continuing to make substantial investments in video cameras, equipment, and team members to better leverage the power of video when selling our luxury listings locally, nationally, and globally. Visit our YouTube channel to see what we’ve been up to, and make sure you subscribe if you want to be the first to see new content.
When it comes to the sales process, we understand that it’s quite an inconvenience for home sellers. However, we guarantee that our team, technology, and process of qualifying potential buyers will minimize the headache and maximize your profit. We look forward to talking to you.