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
Price Slashed on Wayne Newton's Home! Evidently the $70M price tag on Wayne Newton's former residence, Casa de Shenandoah, was not generating any offers - or any lookers either. Even with the F28 jet and private airplane terminal thrown in, no one was showing any interest in the property. So the price was just slashed...
If you're looking to purchase a property in a neighborhood, community or building with shared common areas (like a pool, clubhouse, parking garage, etc.) or even a security gate, it's likely the community or neighborhood is maintained by a homeowners association, also known as a HOA. When you move into a community main...
With summer coming, most of our inquiries for homes include one key ingredient: an inground swimming pool. While the four homes featured here may not be within your budget, they sure are fun to look at and dream on! Take a look at what just a few millions of dollars can buy you in a pool home. Enjoy! First up, La Mais...
Five Las Vegas Valley communities cracked the top 50 nationally for new-home sales last year, new reports show. Leading the pack locally was Summerlin, where builders sold 1,052 homes, up 37 percent from 2016, according to separate reports this week from two firms, RCLCO and John Burns Real Esta...
Programs that help first-time buyers put down less than 10 percent of the purchase price have been around for many years. FHA, VA, and state and local housing programs are three of the best-known sources of loans ranging from 3.5 to 5 percent down. In recent years, some commercial lenders have offered mortgages as l...