Data on this graph using numbers provided by the local Multiple Listing Service (MLS) indicates the number of condominiums and townhomes sold remained about the same during the period from Jan. 1-May 5 in 2021 and 2022. Single-family sales slowed significantly this year (a 17.4 percent decrease).
So far in 2022 Mesquite, Nevada homes are selling faster and for more money than they did in 2021
Mesquite Condominiums
From January 1 to May 5, 2022 condos sold 64.1 percent faster than they did the year before (18 in
2022, 49 in 2021). That’s an indication condos are in high demand. Ironically, the same number
of condos sold this year and last. Many cities throughout the United States are grappling with low
inventory.
People are eager to buy properties in the beautiful desert resort community, but it is possible
higher prices are causing some to hold back. For the first four months of last year, home prices
averaged $159,122. Fast forward to 2022 during the same time period when we saw an average price
increase of 32 percent at $209,987.
Single Family Homes
Single-family homes were also snatched up faster this year than they were last year. It took an
average of 35 days to sell a single-family home in the first four months of last year. This year it
took an average of 26 days active on the market for a home to sell. That’s a 26.6 percent
decrease.
This graph based on data provided by the local Multiple Listing Service (MLS) indicates homes sold much faster in Mesquite from January 1 to May 5, 2022, than they did during the same period in 2021. The number of days condominiums remained active on the market in 2022 was 64.1 percent fewer than in 2021. Single-family homes sold 26.6 percent faster in 2022 and townhomes sold 20 percent faster this year than they did last year.
More single-family homes sold during the first four months of 2021 (259) than sold during that time
in 2022 (214). That’s a 17.4 percent decrease. Again, higher home prices and inventory are
sure to have an impact on this number.
Single-family home prices are up this year a whopping 27.2 percent from an average of $393,814 to an
average of $500,896. This is likely impacted by the issue of supply and demand.
Townhomes
Townhomes sold an average of 20 percent faster in the first four months of this year compared to
last. In 2021 it took an average of 24 days active on the market to sell. This year, townhomes are
selling in an average of 16 days.
Data on this graph using numbers provided by the local Multiple Listing Service (MLS) indicates the number of condominiums and townhomes sold remained about the same during the period from Jan. 1-May 5 in 2021 and 2022. Single-family sales slowed significantly this year (a 17.4 percent decrease).
The exact same number of townhomes sold this year in that time period, 63, as did this year.
Townhomes also sold for 20 percent more this year than they did last year. That seems to be the theme
throughout many parts of the United States.
Who wouldn’t want to live here?
Mesquite is definitely experiencing a seller’s advantage right now. More people are discovering
the ever-growing community, some are coming for pretty reasonable prices compared to other popular
areas of the country; and who wouldn’t want to live here?
The city offers a great nightlife with casinos, live music, theaters, and more. Retirees tend to
enjoy the active lifestyle here with magnificent Mohave Desert surroundings, spas, fitness clubs and
sporting opportunities like gold, pickle ball, tennis, and swimming. An active city administration
is constantly striving to improve the city’s infrastructure and this solid community has a
largely engaged population. Many buy second homes in Mesquite to escape chilly winters at their
permanent homes in a colder climate.
Interest rates are creeping up
If you want to buy a home in Mesquite, don’t doddle. Prices are not likely to go down, but
interest rates are going up. Higher interest rates can mean some buyers can afford to pay less for a
home or be forced to make higher payments.
If you have a home to sell, there’s no time like the present! Real estate is in high demand and
it is looking like interest rate hikes could balance the market a little by encouraging it to lean
more in buyers’ favor.
Do you have questions about the housing market in Mesquite? Give me a call today and let’s chat
about ways you can reach your real estate goals.
