Rising Opportunities for Buyers in Clark County
Right now, buyers in Clark County seem to have the upper hand, thanks to higher-than-usual inventory and an overall slowdown in sales activity.
Even though prices have continued climbing, homes aren’t selling with the typical spring momentum usually seen. According to data from the Regional Multiple Listing Service, sales activity has been unusually quiet this season. In fact, May saw just 616 pending sales — down 6% from the same time last year — making it one of the slowest Mays in over a decade (excluding 2023).
Rising mortgage rates seem to be a big driving factor. Toward the end of May, rates jumped above 7%, just as economic and political uncertainty started shaking up the financial markets. That combination caused many potential buyers to pump the brakes, weigh their options and wait things out.
At the same time, sellers haven’t backed down on pricing. New listings are up 8.5% from last year, and the median home price in Clark County has climbed to $574,900 — a 7.5% increase. Some homes are sitting longer, especially those priced aggressively, but we’re still seeing buyers willing to pay top dollar, particularly out-of-state buyers who see Clark County as a good value in comparison to where they’re coming from.
The good news? First-time buyers, or buyers seeking the right deal, have the advantage of more homes on the market, which means more choices — and better odds of negotiating a fair price. SimiSellers who price competitively are starting to stand out and see results.
Whether you’re thinking about buying, selling, or simply curious how today’s market might impact your goals, I’m always here to help with anything real estate-related. Reach out today!
