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December 18, 2017

Las Vegas Housing Market Report – March 26, 2012

Las Vegas Housing Market Report – March 26, 2012

Las Vegas Housing Market Report - March 26, 2012Las Vegas Housing Market Report reveals prices & market trends of Las Vegas houses – Supply & demand for Vegas houses – Median list prices of Vegas NV homes.

Las Vegas Houses

 This Week:

Las Vegas Housing Market Report – March 26, 2012 shows that the current median list price of homes for sale is $150,000. Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Supply and Demand:

The Las Vegas housing market report indicates that the market for single family residential homes is getting hotter. The homes report indicates that the sales demand is strong while fewer homes are being listed for sale. Meanwhile, the current supply and demand levels are showing no signs of price changes from their current trend.

Price Trends:

The median Las Vegas housing market prices are continuing their climb again this week. As a result, the asking price per sq.ft. is also increasing.  However, the days on the market to get a home sold is dropping. The market action index on future housing reports will reveal how long this trend will last.

View the entire…Las Vegas Housing Market Report – March 26, 2012.

Median List Price…$150,000
Asking Price Per Square Foot…$76
Average Days on Market…168
Percent of Properties with Price Decrease…26%
Percent Relisted (reset DOM)…n/a
Percent Flip (price increased)…6%
Median House Size (sq.ft.)…2020 sqft
Median Lot Size…6,100 – 8,000 sq.ft.
Number of Bedrooms…3
Number of Bathrooms…2.5

Search the Las Vegas MLS listings to find Homes for Sale!


When buying or selling Las Vegas real estate…
Contact an Experienced Las Vegas Realtor!
Bob and Jackie Simmons
The Realty One Group

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What would a new Stadium and Entertainment Complex mean to Las Vegas?

There are talks of UNLV having a Las Vegas stadium built. How would this affect the local jobs market and also the Las Vegas housing market?

UNLV president Neal Smatresk recently stated that he has been in talks with Ed Roski and Craig Cavileer about building a domed 40,000-seat stadium and entertainment complex near the campus. There is also talk of making improvements to the Thomas and Mack Center as well. The parties involved have reportedly discussed forming a “public-private partnership.”

Thomas and Mack Center...Las Vegas, Nevada

Thomas and Mack Center...Las Vegas, Nevada

Majestic Realty, one of the world’s largest developers is owned by Roski. In 2008 Roski ranked 524th on the Forbes list of the world’s billionaires. He currently has an interest in both the Los Angeles Laker’s NBA basketball team as well as the LA Kings NHL franchise. His company also helped to build the Staple’s Center in L.A. Located in Las Vegas is the Silverton Casino Hotel and Lodge which is owned by Roski and where Caliveer serves as president.

At this time it is unknown just where the new complex will be located. The university president Smatresk is enthusiastic about the possibility of the new proposition. He said it would be somewhere near the Strip and the airport and there are rumors that it could even be built on the UNLV campus.

Las Vegas Mayor Oscar Goodman has for many years wanted a new Las Vegas stadium in hopes of a getting a pro hockey or basketball team. While his preference is to have a downtown stadium Mayor Goodman agrees that a stadium at UNLV is fine.

So what does it mean to Las Vegas to have a new stadium and entertainment complex?

Jobs and a revenue stream are what is at stake. These are critical to getting Las Vegas back on the mend. It is very easy to see how all of this relates to our local economy and to the health of our housing market. All eyes and ears are watching and listening to this matter very closely even though the news of the stadium discussions are still in the early stage.

Search the Las Vegas MLS for Homes.

For a Las Vegas Realtor contact:
Bob and Jackie Simmons
Realty One Group

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The Silver Lining in the Las Vegas real estate market

Many articles in newspapers, magazines, and on the internet are written today concerning the collapse of the Las Vegas real estate market.The local and national television news report daily about the Las Vegas foreclosures and the Las Vegas short sale. Then we hear about the Las Vegas jobs report that is dismal with a current 14% rate of unemployment. Sure. this all sounds and looks rather bleak to so many people. However, there are some people that might not be making a lot of noise and yet are really enjoying the moment.

The Vistas in Summerlin Las Vegas

Las Vegas is known as the Silver State because of the mining of this mineral. Now the Las Vegas real estate market has a bit of shining silver glimmering for a certain group of fortunate people. Who are these people you might ask? Why would they want Las Vegas homes? Well, the answer is simple if you think about it. These people have money.

People who have a source of money can enjoy a real estate market such as the Las Vegas real estate market. Why? Simply, because everything is so affordable for them. Then on top of that there is a tremendous selection of Las Vegas houses for sale in the MLS listings from which to choose. Well, what if I am interested in Las Vegas condos? That’s not a problem because we have plenty of Las Vegas condos for sale too. Let’s say you want a little condo off the Las Vegas Strip for when you come to visit in the fall and winter months so that you can get away from the ice and snow. That’s not a problem either. There is a very good selection for you with prices about 50% off from the peak levels a few years back.

Red Rock Canyon...minutes west of Las Vegas.

The bottom line is that if you are interested in any of the Las Vegas properties then now is best time to buy in many years…if…you have the money. Homes in Las Vegas are still being purchased regardless of the media reports. Are the reported numbers down? Yes, they are down. However, the fortunate people with money are taking advantage of the Las Vegas housing situation and they are absolutely loving it.

Let’s say that you have been thinking about a Las Vegas relocation and even tho you have the money you’ve just kind of put off the notion of buying a house for sale because of all the negative reports. Well, that’s a call you will have to make. Keep in mind that the negative news is for the people who are unable to purchase and not necessarily for those that can.

There are bargain Las Vegas homes for sale in any of the Las Vegas zip codes…if…you have the money. This holds true for just about any of the Las Vegas housing including Las Vegas luxury homes. So, some people with money that want a Las Vegas home will decide to wait until the news gets better and that’s normal. However, there are other people with money that are now buying Las Vegas homes for sale at a discount and these buyers feel like they have struck gold. Needless to say, for them this is wonderful news.

Be sure to read “The Top 5 Reasons People Move to Las Vegas.”

When you plan on purchasing your Las Vegas property be sure to contact an experienced Las Vegas Realtor!
Bob and Jackie Simmons
The Realty One Group