Posted by Paul Francis on Monday, April 4th, 2011 at 4:55am.
Summerlin Real Estate 89135 Sales Stats 03/2011
Homes in Las Vegas area Zip code 89135 located in Summerlin South Las Vegas – One of the most desirable areas of Las Vegas showed Sales Numbers in March of 2011 with a reported 58 resales ranging in price from a high of $4,000,000 for a Luxury Estate in The Ridges, to a low sales price of $112,500 for a condominium located in Garden View Terrace.
*Sales Statistics are reported from the Las Vegas Multiple Listing Service and does not include all New Home Sales or For Sale By Owner. Information deemed reliable but not guaranteed.
***Las Vegas Real Estate 89135 Homes for Sale
Home Sales in 89135 for March of 2011
Summerlin 89135 Home Sales = 58
-
This equals the amount of home sales for this zip code in March of 2010 when the $8,000 Tax Credit was in place. It’s VERY important to take note that there was a $8,000 homebuyers tax credit that was in place during March of 2010 that essentially…. was paying buyers to buy homes.
Average Sales Price = $414,908
-
This is a slight increase from the Average Sales Price of March 2010 which was reported as $411,639.
Median Sales Price = $231,500
- A slight decrease from $239,500 reported in March of 2010. Keep in mind that median sales price is the middle sales price. Half of the homes in 89135 sold for more, half of the homes sold for less.
Median Square Footage of Homes Sold = 2,092 Sq. Ft
- Median Square Footage of Homes reported sold in March of 2010 was 1,992 square feet.
Median Days on Market = 57
- A slight increase from the reported days on market of 55 reported for March of 2010.
Median $ per Square Foot = $106
- This is a 13.82% decrease from the Median $ per square foot reported in March of 2010.
Median Sales Price to List Price Ratio = 97.45%
- Median Sales Price to List Price Ratio for March of 2010 was 97.3%. This is important for buyers to pay attention to since it suggests there is not much room to negotiate from the listing price. The lowest reported sales price in zip code 89135 was $112,500 and the asking price was $112,500. This is a very desirable zip code of Las Vegas so for homes priced under the median sales price of $231,500, expect little to no negotiating room.
Types of Financing Used to Purchase Real Estate in Zip Code 89135
Obviously, inflated real estate prices that created the peak in home values for Las Vegas in August of 2006 were a result of lax lending requirements and exotic loan products such as Option Arms and little to nothing down no income documentation loans. Those loans are long gone and were the #1 reason that caused the real estate crisis. People can no longer purchase homes for nothing down without income verification and getting a home loan today is even more difficult then it was just one year ago. It’s very important to take this into consideration for future price stability for a particular area.
Below is a table showing how buyers purchased 89135 Homes in Summerlin:
| Conventional Loan Purchases |
26 |
| Cash Purchase |
23 |
| FHA Loan |
7 |
| VA Loans |
2 |
| Total |
58 |
What this suggests is that 84.5% of the purchases in Las Vegas Real Estate 89135 were made by buyers who now have equity in the homes they just purchased. Obviously, there is little to no chance that cash buyers (39.7% of purchasers) are going to get foreclosed on. Take this into consideration with the fairly consistent year over year results (comparing this year to last year when there was a $8,000 homebuyer tax credit in place to go buy homes) and it’s clearly evident that there is stability in the Las Vegas zip code of 89135.
As one of the first residents in Summerlin zip code 89135 back in 1999, I know every neighborhood, park, store and restaurant. I know the builders that built the neighborhoods…. and I know the home that will meet your criteria.
All You have to do is contact me at 702.592.3058 to get started in getting what you want.
If you wish…. you can search all of the home currently available for sale in Summerlin Real Estate 89135 on my Las Vegas Home Search.
For Summerlin Home Sellers….
Find out what your Summerlin Home Value is from somebody who already knows your neighborhood.
Paul Francis, CRS
Prudential Americana Group, REALTORS
Summerlin Real Estate
702.592.3058
Print
ShareBe the first to comment on this blog entry!