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Nothing makes a homeowner second-guess selling quite like the house down the street that won’t sell. The sign goes up, the weeks pass, and it’s natural to assume your own house will meet the same fate: it will sit, the price will have to come down, and the whole street will watch it happen. Headlines saying the market is bad only deepen that fear.
The numbers do point to a softer market overall. Las Vegas reached roughly five months of inventory in September, meaning that at the current pace of sales, it would take about five months to sell every home now on the market.
A citywide figure, however, conceals as much as it reveals. When I break the market down by home type, and three groups carry a supply of three months or less. Same city, more demand. For a seller, the more useful question is whether your home belongs to one of them.
Why these three outperform. During the financial hardship of the 1930s, American women took the cotton sacks that once held flour, sugar, and animal feed and turned them into dresses, aprons, curtains, and quilts.
Millions of women and children wore clothing made this way. Manufacturers noticed and began printing the sacks in attractive patterns, knowing each one would become a family’s next dress, apron, or quilt. The lesson holds today: when times are hard, people need their money to go further. Each of the three home types outperforming this market does exactly that.
1. Multigenerational homes with a private apartment. The first is a single-story multigenerational home under $700,000 with a three-car garage and a separate apartment that includes its own bedroom, kitchenette, entrance, and laundry room.
This group holds just 2.1 months of inventory. Homes like these let several generations share household costs and live close to one another while keeping separate living spaces. If you own one, that apartment may sit empty today. To a buyer, it’s the place they can put their mom.
2. Single-story homes with three-car garages. The second is a single-story home priced between $500,000 and $700,000 with a three-car garage, a group with just a three-month supply. To you, it may simply mean a house with no stairs and a garage full of boxes.
To a buyer, it may mean downsizing without giving up everything they’ve spent a lifetime collecting, and a home without stairs can save a family the cost of a second move as they get older.
3. Single-story starter homes with two-car garages. The third is a single-story, single-family home between $300,000 and $400,000 with a two-car garage, and this group holds just 2.5 months of inventory.
You may think of it as the starter home you outgrew. For a buyer, it may be the first house payment they can actually make, which is precisely what makes homeownership possible when every dollar is being weighed.
Your home’s advantage may lie elsewhere. If you own one of these three types, you have exactly what today’s buyers want. If you don’t, don’t let the headlines make the decision for you. Your house may carry a different advantage, and the next step is finding out what it is and what buyers would pay for it
If you’re thinking about selling, let’s talk about what buyers want from your home,what it could sell for, and what you might be able to walk away with. Call or text me at 702-583-6555, email me at sales@michaelsteam.com, or visit michaelsteam.com. I’m Tania Michaels, and this is where decisions get made.
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