Northwest Las Vegas Real Estate Market Report - REOs, Short Sales and Regular Sales

In my latest post about the northwest Las Vegas real estate market, I reported on sales price, volume, and financing trends. Today we'll look closer at the different types of listings in that market -- REOs (bank owned homes), short sales, and regular sales.

Overall, we're maintaining about 3.9 months of northwest Las Vegas real estate inventory. On closer examination it shows that there are three distinct markets. Here are the current figures for northwest Las Vegas REOs, northwest Las Vegas short sales, and 'regular' northwest Las Vegas home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/July Sales = Absorption Rate). There are only 6-7 weeks of REO inventory, but over five and one-half months of short sales.

Distressed properties (REOs and short sales) represent 63% of the northwest Las Vegas real estate market ...

... and make up 88% of the homes in escrow.

To find out more about buying or selling real estate in northwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 401-405.)

Southwest Las Vegas Real Estate Market Report - REOs, Short Sales and Regular Sales

Recently we examined sales price, volume, and financing trends in the southwest Las Vegas real estate market. Today we'll focus on the parts of that market -- REOs (bank owned homes), short sales, and regular sales.

Generally, we have 3.8 months of southwest Las Vegas real estate inventory. Looking closer we see that each type of listing has a distinct market. Here are the current figures for southwest Las Vegas REOs, southwest Las Vegas short sales, and 'regular' southwest Las Vegas home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/July Sales = Absorption Rate). There are only 7 weeks of REO inventory, but over five months of short sales.

Distressed properties (REOs and short sales) represent 67% of the available inventory ...

... and make up 91% of our current escrows.

To find out more about buying or selling real estate in southwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 501-505.)

Henderson Real Estate Market Report - REOs, Short Sales and Regular Sales

Recently we looked at general trends in the Henderson Nevada real estate market. Today we'll explore the components of that market -- REOs (bank owned homes), short sales, and regular sales.

Overall we have about 4.4 months of Henderson real estate inventory. Taking a closer look reveals three distinct markets. Here are the current figures for Henderson REOs, Henderson short sales, and 'regular' Henderson home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/July Sales = Absorption Rate). We have just over two months of REO inventory, compared to almost six months of short sales.

Distressed properties (REOs and short sales) make up 62% of the Henderson real estate market ...

 ... but account for 88% of the current escrows.

To find out more about buying or selling real estate in Henderson Nevada, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 601-606.)

North Las Vegas Real Estate Trends

For July 2010, there were 669 home sales in North Las Vegas with a median price of $125,000.
Of those, 614 were single-family homes with a median price of $129,900.

Here's a quick look at price, volume and financing trends in the North Las Vegas real estate market.

In 2009 there were a total of 9,207 homes sold in North Las Vegas. This area is north of Charleston Boulevard, east of Rancho Road, and west of the I-15 freeway, and includes most of the city of North Las Vegas. The median sale was a 3-bedroom, 1839 square foot home with a selling price of $129,900. The median selling price for a single-family home fell by 19.4% during the year, from $155,000 to $125,000.

To find out more about buying or selling real estate in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.)

East Las Vegas Real Estate Trends

For July 2010, there were 414 home sales in east Las Vegas with a median price of $76,850.
Of those, 357 were single-family homes with a median price of $84,200, up $6,200 from June.

Here's a quick look at price, volume and financing trends in the east Las Vegas real estate market.

In 2009 there were a total of 6,395 home sales in east Las Vegas. This area is east of Boulder Highway and the I-15 freeway, and north of Russel Road. The median sale was a 3-bedroom, 1373 square foot home with a selling price of $70,000. The median selling price for a single-family home fell by 20.8% during the year, from $101,000 to $80,000.

To find out more about buying or selling real estate in east Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 201-204.)

Central Las Vegas Real Estate Trends

For July 2010, there were 404 home sales in central Las Vegas with a median price of $113,150.
Of those, 280 were single-family homes with a median price of $127,450, down $2,550 from June.

Here's a quick look at price, volume and financing trends in the central Las Vegas real estate market.

In 2009 there were a total of 5,585 home sales in central Las Vegas. This area lies east of the I-15 freeway, west of Boulder Highway, and generally between Sunset Road and Charleston Boulevard. The median sale was a 3-bedroom, 1454 square foot home with a selling price of $116,000. The median selling price for a single-family home fell by 11.2% during the year, from $148,000 to $131,500.

To find out more about buying or selling real estate in central Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 301-303.)

Home Sales in Henderson Nevada - The Neighborhood Scorecard

Thinking about buying or selling a home in Henderson Nevada? Here's a quick look at activity in a variety of Henderson neighborhoods for the month of July. For more detailed info -- number of homes for sale, two-year price and sales charts, and specifics on each sale -- click the name of any neighborhood.

Home prices in Henderson Nevada have generally remained stable through 2010, with very little movement in the median price. With so many distressed properties (bank owned and short sales) on the market, there are plenty of great buys for patient and persistent buyers.

Henderson Nevada is the perfect location for your permanent residence or a 2nd or vacation home. To find out more about buying or selling a home in Henderson, email JohnNovak@kw.com, or call me any time at (702) 339-9700.

Northwest Las Vegas Real Estate Trends

For July 2010, there were 707 home sales in northwest Las Vegas with a median price of $115,000.
Of those, 521 were single-family homes with a median price of $132,500, down $6,500 from May.

Here's a quick look at price, volume and financing trends in the northwest Las Vegas real estate market.

In 2009 there were a total of 8,301 home sales in northwest Las Vegas. This area includes everything west of Rancho Drive and north of Charleston Boulevard. The median sale was a 3-bedroom, 1564 square foot home with a selling price of $116,000. The median selling price for a single-family home fell by 13.9% during the year, from $155,000 to $133,450.

To find out more about buying or selling real estate in northwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 401-405.)

Southwest Las Vegas Real Estate Trends

For July 2010, there were 891 home sales in southwest Las Vegas with a median price of $140,000.
Of those, 693 were single-family homes with a median price of $155,000, down $3,000 from June.

Here's a quick look at price, volume and financing trends in the southwest Las Vegas real estate market.

In 2009 there were a total of 10,691 home sales in southwest Las Vegas. This area is roughly everything west of the I-15 freeway and south of Charleston Boulevard. The median sale was a 3-bedroom, 1740 square foot home with a selling price of $152,000. The median selling price for a single-family home fell by 15.8% during the year, from $190,000 to $160,000.

To find out more about buying or selling real estate in southwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 501-505.)

Henderson Nevada Real Estate Trends

For July 2010, there were 516 home sales in Henderson Nevada with a median price of $160,000. Of those, 422 were single-family homes with a median price of $175,750.

Here's a quick look at price, volume and financing trends in the Henderson real estate market.

In 2009 there were a total of 5,928 home sales in Henderson Nevada. The median sale was a 3-bedroom, 1800 square foot home with a selling price of $180,157. The median selling price for a single-family home fell by 18.1% during the year, from $235,000 to $192,500.

To find out more about buying or selling real estate in Henderson Nevada, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 601-606.)