Las Vegas Real Estate Activity Report
Posted by Paul Francis on Saturday, April 25th, 2009 at 10:46pm.Las Vegas Homes in Contract
Buyers activity Surges for Las Vegas real estate.
As of today, there are currently 10,761 Las Vegas Homes that are either Contingent or Pending in the Las Vegas MLS for areas 101-606 which includes Henderson Homes, North Las Vegas Homes and Summerlin Real Estate. These numbers are suggesting the strong demand for Las Vegas real estate at current values which could be a very strong signal that Las Vegas Home Values may be finally ending the free fall in prices.
Type of Las Vegas Homes currently in contract:
- 8992 Single Family Homes
- 1230 Condominiums
- 520 Townhomes
- 19 Manufactured Homes
No surprise that single family homes lead the way in future sales.
Las Vegas Homes classifications:
- 6066 of these are Bank Owned AKA Las Vegas REO Homes.
- 3654 of these are classified as Las Vegas Short Sales
- 988 Non Bank Owned or Non Short Sale.
(In case you are wondering why this number equals 10,708 and not 10,761... it's due to misclassification of the listing by about 53 Listing Agents.)
The Huge Number of Las Vegas Foreclosures currently under contract is certainly no surprise due to Price and the demand by buyers focusing in on Bank Owned Las Vegas homes for sale.
As you can see, only 988 Las Vegas Homes that are not Bank Owned or being short saled are currently in contract which is an indication of just how many Las Vegas homeowners that are selling have enough equity to price their homes competitively in order for their homes to sell.
Currently, there are 5,487 properties on the Las Vegas MLS that are listed as non bank owned or a non short sale out of a total of 16,867 single family properties for sale. While there is no shortage of homes currently available for sale where a bank is not involved in approving the sale, the amount of these types of homes that are actually in contract certainly suggests that the list prices May be too high.
Personally, I don't know any Las Vegas real estate agent with actual experience in Foreclosures or Short sales that enjoys dealing with a bank so in my opinion... it's certainly the price.
For Las Vegas Real Estate Buyers:
Looking to buy and want to know the best route of being notified of the Best Deals that become available for sale on the Las Vegas MLS? Contact me at 702.592.3058 to discuss your needs and putting you on a system to be notified instantly via e-mail of the newest Las Vegas listings that become available for sale.
Las Vegas Home Sellers
Do you need to sell? Contact me for an evaluation of your situation to see what will work best for you. You can start off with our Las Vegas Home Value Market Analysis and I'll personally evaluate the current market value of your home. Yes... I do Short Sales in Las Vegas depending on your qualifications. Unlike some services that only want to list your Las Vegas Home for sale or refer you to me for a fee, I do have a qualification process. Please call me directly at 702.592.3058 if you have any questions.
Paul Francis, CRS
Prudential Americana Group - Reators®
Las Vegas Real Estate - Summerlin Homes
702.592.3058
*Information Deemed Reliable but not Guaranteed
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[...](Maybe that’s why they are selling the tactic instead of practicing it?) If you read my last Las Vegas Real Estate report, you’ll know that sales are not very tough to come by in Las Vegas right now. Works Fantastic[...]
Posted on Tuesday, May 19th, 2009 at 3:12 PM.