Home Values in Las Vegas: What You Need to Know

How to get a home value estimate

Whether you’re wondering how to set the right list price or trying to calculate your net proceeds, there are several tools available to help you estimate the value of your Las Vegas home. We’ll go over some below.

Use an online home value estimator

To get a general ballpark figure for your home, one of the quickest and easiest ways is to use an online home value estimator like HomeLight’s. These free tools pull data from various sources, including county auditor and tax assessor records, user-submitted information, and MLS sales and listings, to generate an estimate. HomeLight’s tool stands out from others by asking seven simple questions about your home’s unique features to paint a more accurate picture of its value. In under two minutes, you’ll have a preliminary estimate and a useful starting point for your home-selling journey.

Request a comparative market analysis

While an online estimate gives you a ballpark figure, requesting a comparative market analysis (CMA) from a real estate agent will provide a more accurate and detailed valuation for your Las Vegas home. A CMA compares your house to similar homes that have recently sold in your area, and while factoring in specifics like the number of bedrooms, bathrooms, square footage, location, and recent upgrades, among other things.

Your real estate agent will inspect your home and compile a report that often includes charts, graphs, photos, and other data, giving you a comprehensive understanding of your property’s value. Many agents will provide a CMA for free, especially if you plan to list your home with them. It’s a valuable tool to help set a competitive list price.

Get a pre-listing appraisal

While a comparative market analysis will provide a valid estimate for your home, in some cases, obtaining a pre-listing appraisal might be necessary to get a more precise valuation. A professional appraisal is especially useful for homes with unique features that are difficult to compare, or those located in areas with few nearby recent sales. It can also help ensure that you don’t overprice or underprice your property according to its fair market value.

Keep in mind that a pre-listing appraisal generally costs between $450 and $550, though more complex properties, like luxury homes or large plots of land, may incur higher fees. Even if you decide to get a pre-listing appraisal, remember that the buyer’s lender will still usually require their own appraisal to determine the loan amount they’re willing to provide.

How to increase the value of your Las Vegas home

If you want to focus on maximizing your home’s value before putting it on the market, there are several targeted upgrades that can significantly improve your home’s list price.

Curb appeal: Curb appeal plays a major role in buyers’ first impressions — according to the National Association of Realtors, 92% of realtors recommend enhancing curb appeal before listing. Simple projects like mowing the lawn, power washing the exterior, adding fresh mulch, painting the front door, and updating outdoor lighting can make your home more attractive to buyers at first glance.

Strategic updates: To maximize your return on investment, prioritize value-adding home improvements such as refinishing floors, repainting, and updating fixtures (including lighting, hardware, and faucets) in high-impact areas like the kitchen and bathroom. Some improvements are more worthwhile than others — according to Zonda’s 2023 Cost vs. Value Report, replacing a garage door can recoup 103% of the costs, making it one of the best investments.

​​Necessary fixes: Before listing your home on the market, confirm that everything is in good working order. It’s wise to contact your agent before making large or costly repairs, but addressing any problems with the roof, foundation, plumbing, HVAC, or electrical systems can help you avoid surprises during the inspection process that could otherwise delay or derail a sale.

Decluttering and depersonalizing: Decluttering and depersonalizing your home is a recommended step to help potential buyers better envision themselves living in the space, instead of being distracted by your personal items. This includes removing family photos, collectibles, or religious symbols from view, as well as clearing out excess furniture that crowds the space. One HomeLight survey found that decluttering could increase your home’s sale price by $8,000 or more.

Deep cleaning: A thorough deep cleaning of your home can not only enhance its appeal, but also boost its market value. Take steps such as scrubbing grout, washing windows, cleaning carpets, and dusting overlooked vents or baseboards before listing. According to a HomeLight survey of over 1,000 top real estate agents, deep cleaning can boost your home’s value by an average of $3,700. In general, buyers are more likely to look past minor flaws or issues if the home is in pristine condition.

Home staging: Finally, effective staging can show off your home’s best features and help buyers more easily imagine themselves living, hosting, or relaxing there. Professionally staged tend to sell quicker and for more money — up to 13% more than unstaged homes, according to HomeLight’s most recent Agent Insights Report. Of the agents surveyed, 67% said staging helps sell homes in the current market, and 31% even considered staging to be “essential for a sale.”

Unlock Your Equity and Buy Before You Sell

Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

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How to buy before you sell in Las Vegas

If you’ve been keeping an eye on home values in Las Vegas because you think you may have found your next dream house, HomeLight’s Buy Before You Sell (BBYS) program might just be the solution you need.

BBYS works by allowing you to tap into a portion of your current home’s equity, which can then be used to make a strong, non-contingent offer on your next property. If your home is eligible, you can unlock this equity within 24 hours. Plus, there’s no upfront fees or obligations. With this approach, you can buy your new home first and then sell your previous home while it’s empty, avoiding the hassle of coordinating two moves.

HomeLight charges a flat fee of 2.4% of your current home’s sale price. If your current home doesn’t sell within 90 days of closing on your new property, HomeLight will purchase the home and continue to market it until it sells. Any profits from the eventual sale, after subtracting HomeLight costs, will be passed on to you.

Watch the video below for more information about HomeLight’s Buy Before You Sell program:

How to find a top agent in Las Vegas

One of the most important factors in maximizing your home’s selling price is to work with a real estate agent who has a proven track record in your neighborhood. HomeLight’s agent matching service is free, and it takes less than two minutes to get paired with three top-performing candidates in your area. Since agents don’t pay to be featured on our website, the results are also completely unbiased, based solely the agent’s past sales and specialities.

Once you have received your matches, it’s recommended to evaluate an agent based on their sale-to-list ratio. This percentage measures a home’s final sale price compared to its original listing price. You’ll want to choose an agent with a high sale-to-list ratio, which demonstrates that they accurately price their listings and consistently secure the highest possible sales price for their clients.

Before settling on an agent, be sure to interview at least three to make sure you have assessed all your options. Besides inquiring about the agent’s sale-to-list ratio, ask questions like:

By engaging with HomeLight’s agent match tool and asking the right interview questions, you’ll find a skilled real estate pro to set your Las Vegas home sale up for success.

Get a free preliminary home estimate today

If you’re hoping to sell your Las Vegas home soon, are thinking of refinancing, or just want to stay up to date, understanding local home values will help you make better financial decisions in the long run. With tools like HomeLight’s free home value estimator, you can quickly get an initial estimate for your home, providing a helpful starting point in just a few minutes.

HomeLight can also connect you with top Las Vegas agents who know how to sell your home for its best price, or will assist you in unlocking your equity to buy a new house before selling your current one. Keeping an eye on local market trends and leveraging the helpful tools will ensure that you are well-prepared to maximize the value of your Las Vegas property.

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