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Closings on Short Sales Fall While Traditional Sales Are Rising

Posted by Julie Wright on Saturday, April 13th, 2013 at 4:37pm.

Here is the March 2013 real estate update for the Las Vegas market by the corporate broker of Prudential Americana Group Realtors, Forrest Barbee. In this video, Forrest explains why short sales are declining and traditional sales are increasing, and what to expect for the near future for Las Vegas housing.

Bank owned foreclosures have pretty much leveled off, but short sales are beginning to plummet in earnest.Single family short sale closing prices were the only ones to lose ground from February. But the closing price of a traditional single family residence is up 10.5% from the previous month. In fact the average sales price per square foot for the traditional sale was $102 per Sq.Ft. in March.

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



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