Birds chirping, wind blowing, 110 Degrees 3 days ago and only in the 70’s today. It’s June in Las Vegas! But while the world reacts to a lot going on (seriously, 2020 is the most confused year ever), the Real Estate Market has decided to go full throttle! Whether it was because people were cooped up for 2.5 months in their homes, or they were just ready to make these moves beforehand, things are moving, and moving fast.

You’ve seen me post this chart below, and you can follow it ‘live’ day by day (Live Chart), or you can see what it looks like now:

A thing of beauty. In Las Vegas, the Governor officially put us in Shut Down Mode on March 17th, but many people started running for cover a few days before. Take a look at the chart, and the orange line agrees with the news, what was happening, and where we were. For the next 4 weeks, people were still out showing homes and selling homes and buying homes, but in much lower numbers. In fact, showing activity dropped off by more than 50% over what it was like the year before (the blue line). The market BOTTOMED, in terms of showings on April 12th. We were a month into Quarantine. but then, things started to pick up, way up! While the gap between showing activity in 2019 and 2020 was still significant… it started to shrink.

On May 5th, about a month ago, we officially hit the flat period, which signifies the change is showing activity from the first week of January, aka we had the same amount of showings that week as the first week of January. We are now ABOVE 50% higher than we were the beginning of January, and if you look at the orange line, we’re almost in line with the blue line, which was the activity levels for 2019!

To put that in a different perspective… if you look at the orange line again, the HIGHEST level of activity we had in 2020 was actually right around March 5, RIGHT before the Quarantine, when we were 66.3% higher than the average of the first week of January! We are now at 53.6% higher than the first week of January, really close to our HIGHEST point of the YEAR.

For those of you in the business, or that have been paying attention to the market, you’ll know that 2020 started like a shot out of a cannon. We saw multiple offers on homes, median days on market were super low, and inventory was at multi-year lows.

People - we’re back… this market is not rebounding… it HAS REBOUNDED. We still have a lot to pay attention to. We still are doing business differently, but different this time means smarter! Showings lead to offers. Offers lead to Pending Sales. Pending Sales lead to closed sales.

If you’re on the sidelines… it’s time, honestly, to start thinking about checking yourself back into the game, before the game passes you over.

-GZ