Las Vegas Real Estate Trends

Las Vegas Real Estate trends and Las Vegas Home Value reports with current market activity taking place... before it's reported!

There are currently 23 blog entries related to this category.

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Las Vegas Association of Realtors reports median price increase for sold homes on the Las Vegas MLS

Saturday, December 13th, 2014 at 1:13pm. 9348 Views, 0 Comments.

Las Vegas Homes Sold in November up in Median price

  • Get a complimentary market analysis for your Las Vegas Real EstateMedian Sold Prices for Homes and Condos / Townhomes Up
  • Number of Listings Sold in November is down
  • Available Inventory on the Las Vegas MLS is down 

According to the Greater Las Vegas Association of Realtors®, the median price for sold homes on the Las Vegas MLS in November of 2014 was up 1.1% from October of 2014 and increased 10.4% from November of 2013. Here are the interesting stats worth taking a look at from the latest Report:

Las Vegas Sales Stats - Nov. 2014
Single Family Homes 

Units Sold Nov 2014Change from
Oct. 2014Change from
Nov. 2013# of Units Sold2,031-12.8%


-7.7%

Median Price of
Units Sold


$202,000

+1.1%+10.4%Avg. Price of
Units Sold$243,449-1.5%+7.9%

Las Vegas Sales Stats - Nov. 2014


Notice of Defaults soar in Nevada but let's look at the real numbers that matter...

Friday, August 15th, 2014 at 6:31am. 9484 Views, 0 Comments.

Notice of Defaults soar 128% in Nevada

From the Las Vegas Review Journal:

Notice of Defaults Soar in Nevada

Lenders filed 1,037 notices of default to start foreclosure proceedings in July, up 128 percent from July 2013, RealtyTrac reported. It’s also the highest number of starts since October, when the state’s Homeowners Bill of Rights took effect and put new restrictions on banks looking to foreclose. Monthly foreclosure starts had ranged from 284 to 708 in the first half of 2014 as banks adjusted to the regulations.

Is this a reason to panic if you are a homeowner concerned about their equity? Probably not when you look at the real numbers of bank owned homes that are actually available for sale on the Las Vegas MLS. Should a Las Vegas real estate buyer wait…


Las Vegas Bank Owned Properties for sale declines another 10.8%

Monday, March 31st, 2014 at 12:56pm. 13758 Views, 1 Comments.

Bank Owned Properties for Sale in Las Vegas drops 10.8% month over month

Las Vegas area Bank owned properties for saleSpeculation that the lenders will be dumping Bank Owned properties on the Las Vegas market for sale continues to not materialize as once again, the available amount of Bank Owned properties in the Las Vegas area drops month over month.

In the February Bank Owned Report, available inventory dropped 3.41%. Compared to last month, Bank Owned Inventory available for sale on the Las Vegas Multiple Listing Service (MLS) has dropped another 10.8% with the only increase coming in condominiums.

Bank Owned Properties in the Las Vegas Area available for sale

** Numbers are from the Las Vegas MLS for areas 101-606 which includes Henderson, North Las Vegas, Las Vegas and Summerlin.

 Single Family

Las Vegas Home Sales in Zip Code 89128

Friday, March 21st, 2014 at 10:32am. 13705 Views, 0 Comments.

Las Vegas Home Sales in Zip Code 89128 - Northwest Las Vegas Real Estate

Las Vegas Zip Code 89128 BoundariesLas Vegas Homes in Zip Code 89128 includes the Master Planned Communities of Desert Shores, South Shores and The Pueblo Village in Summerlin.

For February of 2014, the Year over Year Median Sale Price was up 27%, Total Sales were down 21.7% and the Median Sale Price went down 3.5% from January of 2014.

Information is from the Greater Las Vegas Multiple Listing Service (MLS) and is deemed reliable but not guaranteed. The information below is for Single Family detached homes in Las Vegas Zip Code 89128 and does not include For Sale by Owners, Townhomes or condominiums. For a specific Las Vegas Home Value market evaluation, please contact Paul Francis at 702.592.3058.

There were 36 reported…


Desert Shores Home Values - Northwest Las Vegas Real Estate Trends

Tuesday, January 21st, 2014 at 11:08am. 1748 Views, 0 Comments.

Desert Shores Home Values

Desert Shores Homes in Northwest Las VegasA Master planned community in Northwest Las Vegas planned in the 1980's, Desert Shores has always been one of those communities that can be a challenge for novice real estate buyers and even Las Vegas Real Estate agents in properly determining a home's market value. Third party Non Realtor sites that do automatic online evaluations are normally completely way off wrong about a home's estimated market value in Desert Shores.

Some of the Reasons for this:

Homes with Lake Frontage. These obviously have a premium built into the price for one of a kind real estate in Las Vegas and can really throw off the numbers if they are included in home value evaluations.

Inexperienced real estate agents that list homes for sale in neighboring…


Shadow Inventory drops to lowest levels since August of 2008

Friday, January 10th, 2014 at 1:07pm. 1032 Views, 2 Comments.

Shadow Inventory for the Nation drops to the lowest levels seen since August 2008

The dreaded "shadow inventory" numbers that have have been the big "what if" factor when deciding if it's the right time to purchase a home continues to drop and is now at the lowest levels seen since August of 2008 according to Corelogic.

Residential shadow inventory, as of October 2013, was 1.7 million homes, a supply of 3.5 months, down 43 percent from its peak of 3 million in January 2010. This figure represents a 24 percent drop from October 2012, when it stood at 2.3 million homes. The number of properties in the shadow inventory has decreased for 21 consecutive months, including 13 consecutive months of double-digit year-over-year declines, and is now at the lowest…


Las Vegas Homes Inventory Report

Tuesday, October 1st, 2013 at 10:28pm. 1417 Views, 0 Comments.

Interesting Trends Taking Shape for Las Vegas Homes Available for Sale

More legislation, more confusion for the Nevada Real Estate market and you can read a summary of the New Nevada Homeowner's Bill of Rights that just took effect today and form your own opinion HERE.

Also worth noting is that lenders rushed to file defaults in Clark County the day before the new law took effect that you can read HERE.

Just one day before a law kicked in making it easier to avoid foreclosure, banks unleashed a torrent of filings to seize homes from delinquent Las Vegas borrowers. A total of 934 notices of default were filed Monday in Clark County, the largest one-day total ever for the region, according to LV Default, a Las Vegas research firm.

Quite interesting and only time…


Troubled Las Vegas Neighborhoods by Zip Code

Tuesday, August 27th, 2013 at 1:38pm. 17948 Views, 0 Comments.

Report Highlights Troubled Neighborhoods in Las Vegas

Interesting story in Channel 8 News that you can read here.

Jeremy Aguero,a principal analyst with Applied Analysis,explained the report to the Las Vegas City Council at its Wednesday meeting. He said, it will allow Las Vegas to focus its resources where they are most needed.

Neighborhood Economic Risk Assessment

The Risk Assessment report is an interesting report with a couple of surprises on areas of Las Vegas that were deemed “At Risk” by Applied Analysis. Las Vegas zip code 89101 certainly caught my attention since it's in a "Redevelopment" zone where there are grants that may be available for real estate investors that have a vision.

Check out…


Buyers Are Back After Going Through Foreclosure

Thursday, October 18th, 2012 at 11:11am. 2043 Views, 1 Comments.

Buyers are Back after Foreclosure

From the Wall Street Journal: Buyers Are Back After Foreclosure

Using the three-year benchmark it takes to get an FHA-guaranteed loan, in this year's second quarter there were 729,000 households that were foreclosed upon during the bust that are now eligible to apply for an FHA mortgage, up from 285,000 in the second quarter of 2011, according to an analysis of foreclosure data by Moody's Analytics. The company projects that number will grow to 1.5 million by the first quarter of 2014.

One thing that many people fail to factor in when it comes to the fears of the banks "dumping" the so called Shadow Inventory on to the Las Vegas real estate market and sinking prices is the amount of people that are now qualified to buy again.…


Nevada Ranks Second in Percentage of Homeowners 90+ days late on their Mortgages

Wednesday, October 17th, 2012 at 2:57pm. 2806 Views, 1 Comments.

Corelogic® Releases August 2012 Stats

Corelogic® recently released their October Market Pulse report that included a chart showing the % of home loans out there that are 90+ days late. While it was no surprise that Nevada was in the top 10, what was a surprise were the number of states that you rarely hear about when it comes to the number of foreclosure notice filings.

Also a big surprise is that Arizona has dropped off of the top 25 list for the percentage of delinquent home loans 90+ days late. It didn't seem like it was too long ago that Arizona was competing with Nevada for the top spots in the number of foreclosure filings reported. Arizona took the path of dealing with distressed homeowners head on and not delaying out the foreclosure process…


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