Las Vegas Real Estate…January 2011 Market Condition Report

Las Vegas Real Estate…January 2011 Market Condition Report

View the entire Market Condition Report. Las Vegas House Prices: This Las Vegas real estate report shows a $5,000 drop in the median sales price form a year ago in 2009. One year ago at this time the median close price of a Las Vegas home was $137,000 and it is currently at $132,000. Currently, 53% of the Vegas homes on the market are selling. Of the sales 46% are REO properties (bank owned, foreclosures), 28% are short sales, and 27% are standard sales. (At this time the standard sales are primarily investors who has bought homes and are flipping them for a profit. However, these are the actual owners of the property according to recordings.) Supply and Demand: There is a current supply of 12,520 homes on the market. 2,776 homes are closing a month and 2,511 homes are failing to close escrow. As of this report there are a total of 8,956 homes in escrow. Again, 53% of the homes in escrow...
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Las Vegas Real Estate…November 2010 Market Condition Report

View the complete November2010, Market Condition Report. The November 2010 Las Vegas Market Condition Report shows that the closing price for Las Vegas homes fell $2,000 from the previous month. The median current closing price of a house in Las Vegas is now $133,000 and this is down $7,000 from a year ago at this time. There were 2,475 homes in Las Vegas housing market that closed in October for a slight increase of the 2,439 homes that closed in September. 40% of the closings are REO (bank owned properties), 30% are short sales, while 29% are considered standard sales. There is a supply of 12,637 Las Vegas houses for sale at this time. It is also stated that the 2,609 houses in Las Vegas closed (demand) while 2,326 properties failed to close in escrow. This means that 53% of the Las Vegas real estate listings of homes are successfully sold at this time. The Southwest part of the Las Vegas...
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Market Condition Report…October 2010

Market Condition Report…October 2010

View the complete October 2010, Market Condition Report. Las Vegas homes closed in September 2010 at an average closing price of $135,000 according to a Nevada Title Company report. The closing price is down $5,000 from the previous month when Las Vegas properties closed at an average of $140,000. The average price in September of 2009 was $138,000 so Las Vegas houses are selling for $3,000 less in 2010. At this time there are 12,149 Las Vegas houses for sale and Vegas real estate is seeing downward pressure in pricing. There were 2,439 closings of Las Vegas homes in September which is 307 fewer homes than the previous month. REO properties (Las Vegas bank owned homes), short sales, and standard sales all had fewer closing s than the previous month. The supply of homes for sale in Las Vegas jumped by 1,143 houses in September. However, there were 439 fewer homes in escrow (pending/contingent). The demand for foreclosures...
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