As of April 26th, only 4,594 single family homes remain listed in the Las Vegas MLS as active (not under contract) in Clark County. Our inventory is continuing to shrink as few, if any, bank foreclosures are reaching the market due to the restrictions of AB 284.
The sale of lower priced housing, in particular, is really active. This week one of our agents had an offer in on a home that had received over 70 offers within just a few days, most above list price!
The current market breakdown looks like this:
874 homes priced under $100k - including 361short sales and 225 foreclosures
1644 homes priced between $100k and $200k - including 664 short sales and 278 foreclosures
846 homes priced between $200k and $300k - including 262 short sales and 89 foreclosures
454 homes priced between $300 and $400k - including 95 short sales and 32 foreclosures
208 homes priced between $400k and $500k - including 36 short sales and 5 foreclosures
221 homes priced between $500k and $750k - including 33 short sales and 10 foreclosures
143 homes priced between $750k and $1M - including 25 short sales and 5 foreclosures
285 homes priced over 1M - including 20 short sales and 4 foreclosures
These figures tell us that about 32.5% of the available inventory homes are short sales and only about 14% are foreclosures, totaling less than 48% of the Las Vegas market inventory. All the rest, just over 52%, are "traditional" sellers, whether they are actual owner occupants or investors.
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!"
Related Blog Posts
Wei Chen-Goldman, one of the very experienced agents on the #1 Tonnesen Team at Berkshire Hathaway HomeServices Nevada Properties has closed on another beautiful Las Vegas home in the desirable area of Lake Las Vegas. A very happy couple with 3 children from Minnesota purchased for their future retirement home. The...
Nevada has always been a non-judicial foreclosure state. If a borrower was past due, all the mortgage holder had to do was produce copies of the appropriate documents and file foreclosure notices, and within approximately 5 months the foreclosure sale took place at the county steps. There was no right of redemption f...
The Tonnesen Team of GreatLasVegasHomes.com would like to take this opportunity to wish everyone a heartfelt "Happy Thanksgiving," and may your homes be blessed with joy. The following is something written by our wonderful Team Manager, Patty Annis, that describes how she feels about this holiday season and being home...
Based on real estate experts that Las Vegas High Rise condos market is going to explode. The most important thing before purchasing a Las Vegas high rise condo is to hire a realtor who has the expertise to assist you with your purchase process. Las Vegas offers a wide range of high-rise condo living. For...