Las Vegas Bank Owned Homes Report - Over 70% of all Las Vegas Sales YTD are Bank Owned Properties
Posted by Paul Francis on Sunday, November 1st, 2009 at 11:42am.Las Vegas Bank Owned Homes for sale Report
Our latest check for Las Vegas Bank Owned Properties for Sale on the Las Vegas Multiple Listing Service (MLS) has shown a pretty significant drop from the beginning of 2009.
- 01/20/2009 = 7,750 Bank Owned Properties for sale
- 10/31/2009 = 2,037 Bank Owned Properties for Sale
Las Vegas Bank Owned Homes for Sale Report since 05/14/2007
A pretty significant drop of what there is to choose from out there.
Total Closings Year to Date:
- 38,058 - All Closings year to date on the Las Vegas MLS.
- 28,320 - Bank Owned Properties that have sold YTD on the Las Vegas MLS
These are all properties for areas 101 through 606 and includes the following types of properties: Single Family Homes, Condominiums, Townhomes, Manufactured Homes and High Rise Condominiums located in Las Vegas, North Las Vegas, Summerlin and Henderson, Nevada.
Las Vegas Homes For Sale
Las Vegas Bank Owned Properties have made up 74% of all Sales!
That's certainly an amazing number...
Price Ranges of Bank Owned Properties in Las Vegas
For Single Family Homes, Condominiums, Townhomes and Manufactured Homes currently available for sale, here are the number of properties available in the following price ranges:
| Under $100,000 | 801 |
| $100,001 - $200,000 | 821 |
| $200,001 - $300,000 | 253 |
| $300,001 - $400,000 | 58 |
| $400,001 - $500,000 | 19 |
| $500,001 - $600,000 | 5 |
| $600,001 - $700,000 | 7 |
| $700,001 - $800,000 | 2 |
| $800,001 - $900,000 | 2 |
| $900,001 - $1,000,000 | 5 |
| $1,000,001+ | 14 |
The vast majority of Las Vegas Bank Owned Homes are in the under $200,000 range. Despite this large number... competition remains fierce for properties under $200,000 with reports of multiple offers on properties in good condition. It's been reported of one Bank Owned Home receiving 78 offers to purchase!
Luxury Las Vegas Foreclosures
Luxury Las Vegas foreclosures are starting to show an increase in inventory with 14 Luxury Bank Owned Homes currently available for sale. This is the time to start keeping an eye on the Luxury Las Vegas Real Estate Market for great deals since I am starting to see huge price reductions including this stunning Luxury Summerlin Home which is now a short sale. The price has been reduced over $7 Million dollars and is now for sale for less then what it cost to build this brand new custom with absolutely stunning views of the entire Las Vegas Valley.
Luxury Las Vegas Foreclosure Search
For More information on Las Vegas Bank Owned Homes with specific properties that meet your needs, contact Paul Francis, CRS with Prudential Americana Group by calling 702.592.3058 today.
Paul Francis, CRS
Prudential Americana Group - Realtors®
702.592.3058
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