weather icon Mostly Cloudy

Five tricks to sell a home faster in Las Vegas

The Las Vegas housing market is shifting, and buyers are more in control than ever.

Over the past 100-plus days, Opendoor worked with hundreds of buyers in Las Vegas to gain insights about what they want, so homeowners can have data points to help them sell their homes in record time.

Here’s what the data suggest will help a home sell faster in Las Vegas:

1. Optimize open houses: Homebuyers value flexibility. Our data show that over the past 90 days, the peak time for home visits in Las Vegas was noon to 4 p.m. Thursday drew the least foot traffic from potential buyers; Saturday and Sunday drew the most.

2. Timing is everything: It’s no secret that the most popular time to sell a home is in the spring and summer. Nationally, 60 percent of homes trade hands between May and August. People who want to sell quickly, but have a little wiggle room, should consider putting their homes on the market in June. Opendoor saw the greatest amount of buyers for 2018 last June.

3. Price accurately: It may be tempting for home sellers to list their homes for an overly ambitious asking price. But the longer a house stays on the market, the more the home sellers’ move will be delayed and the more they’ll need to compromise on price. The average days on market for a home in Las Vegas is now 77, which would add nearly three months to a home seller’s timeline.

4. Cosmetic fixes are key: Don’t underestimate the power of a coat of paint. Opendoor sells hundreds of homes a month and sees stronger interest in homes with new paint, carpet and appliances. Investing in a deep clean, lawn care and fresh, neutral-colored paint are easy fixes to get a home up to the standard of today’s buyers. Hiring local tradespeople for painting and lawn care, or even a TaskRabbit to help declutter, can quickly boost a home’s sales appeal.

5. Know why buyers are moving: In 2018, the top reason Opendoor customers moved was because they were changing home size, either upsizing into a larger home or downsizing to something smaller. Less than 10 percent of home sellers were moving because of retirement or because they needed the cash equity in their home. Understanding where buyers’ motivations lie, and why they want to move, can help sellers better gauge their home’s marketability and target the right buyers.

Ana Usma is a portfolio manager at Opendoor. Usma is responsible for creating purchase offers for sellers who are interested in selling their single-family residence to Opendoor.

Don't miss the big stories. Like us on Facebook.
Navy veteran purchases home One Las Vegas

Tsapatoris has found her new dream home at One Las Vegas, a twin, 20-story condominium community on the south end of Las Vegas Boulevard.

Summerlin offers active-adult communities

According to the National Association of Home Builders, the 55-plus housing market is showing continued growth as baby boomers age, with a projected 66 million Americans expected to be over the age of 65 by 2025.

Trilogy to hold Memorial Day sales event May 24-27

Trilogy in Summerlin is a Las Vegas 55-plus community. This resort lifestyle community has it all: beautiful homes, an amazing Resort Club and an enviable lifestyle.

Pardee to open Cirrus neighborhood

A VIP pre-sales event is now underway at Pardee Homes’ new Cirrus neighborhood in southwest Las Vegas off Jones Boulevard south of Cactus Avenue.

Tanager clubhouse opens in Downtown Summerlin

The Howard Hughes Corp., developer of Summerlin, which includes the 400-acre urban core of Downtown Summerlin, announces the opening of the leasing office and clubhouse for Tanager, Downtown Summerlin’s newest luxury apartment community, along with the commencement of pre-leasing for Tanager’s 267 luxury residences. The first residents are expected to start moving in this summer.

Ranch house in the sky perched on south Strip

Calling all Raiders fans, aspiring chefs, entertainment lovers, empty nesters and local Las Vegans looking to right-size your life: One Las Vegas has just the answer. This gorgeous twin-tower high-rise on the south Strip not only boasts a Las Vegas Boulevard address, it offers a 19th floor masterpiece — residence No. 1922 — a 2,857-square-foot “ranch house in the sky” that checks off all the boxes for your new luxury home.

Pardee opens town homes in southwest valley

Evolve’s four plans range from 1,599 square feet to 1,923 square feet, each with a private back patio and two-car garage. The gated neighborhood includes a dog park and swimming pool for residents and their guests. Prices start from $299,990.

Ascaya introduces accelerated design program

Ascaya, a Henderson luxury community, has partnered with award-winning residential design/build firms Blue Heron Design Build, studio g Architecture/Luxus Design Build and Sun West Custom Homes on new desert contemporary custom residences available through an accelerated design program.

Eight Summerlin neighborhoods near closeout

Eight Summerlin neighborhoods are nearing sellout, each with fewer than 20 homes remaining. Long regarded as a premier place to live, raise a family and now play — especially with the recent additions of Las Vegas Ballpark, home of the Las Vegas Aviators Triple-A baseball team and City National Arena, practice facility of the NHL’s Vegas Golden Knights, Summerlin is home to more than 100,000 residents and spans 22,500 acres along the Las Vegas Valley’s Western edge.