Just outside of Las Vegas, Henderson, Nevada, provides a great balance of proximity to the energy of Vegas as well as the peaceful trails of neighboring canyons and conservation areas. With the best of both worlds, it’s no wonder Henderson has been growing in popularity, but many who are interested in moving there may wonder if 2023 is the year to do so. With the regional and national markets changing so much since the onset of the pandemic, how does the Henderson, NV, real estate market match up? In this guide, we’ll walk you through everything you need to know about the current market in Henderson and what you can expect in 2023.
Demand has stayed moderate
Inventory has increased
Prices have depreciated
Both sellers and buyers will want to work with a real estate team that can help them strategize about the best time to list or start looking.
Interest rates continue to rise
Those interested in investing in condos or townhomes in Henderson, NV, can expect interest rates closer to 6.3% or higher for a 30-year, fixed-rate mortgage. With some rates climbing as high as 8%, it’s important for buyers to do their research and find a lender who’s willing to offer a lower rate. Sellers should be aware of how rising interest rates could deter buyers in Henderson and recognize that, if rates continue to rise and put buyers off, this could have an impact on how long their home remains on the market.
Sales are slowing
What buyers can expect
Buyers can expect more of the same in 2023, though prices may appreciate modestly. Overall, buyers have more of the upper hand in the Henderson market and could see 2023 as an opportunity to make the most of lower home prices. It’s important, when inventory is high, to have a strong sense of what home styles and features a buyer is looking for. From there, the real estate team will be able to sift through the available properties and find ones that check off all the boxes.
What sellers can expect
With higher inventory than demand, sellers will also want to do what they can to boost the value of their home prior to listing. Renovations and repairs can be a great way to add value, whether a homeowner opts for a full kitchen remodel or simple changes like touching up paint and updating light fixtures. Ultimately, sellers can expect that, although prices may increase in 2023 as demand grows, the Henderson market will likely bring more of what it did in 2022.
If you’re considering buying or selling properties in Henderson, NV, next year, partner with a top real estate team known for helping clients get results. MDB Realty is an award-winning brokerage specializing in luxury homes along with high-rise developments and commercial properties. Equipped to help buyers and sellers meet their goals, MDB Realty works tirelessly to ensure that clients are completely satisfied with their investments. So when you’re ready to take the first step toward buying or selling your home, trust the process to MDB Realty.
*Header photo courtesy of Shutterstock