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Las Vegas Real Estate Prices Continue to be Reduced

By
Real Estate Agent with Francis Group Real Estate

The latest seven day price reduction report is showing up as 2,971 Las Vegas homes reduced in price for the past seven days. Since I first started glancing at this back in January it's been consistently hovering right under the 2,000 range until I noticed the big number for today.

For Las Vegas real estate sellers, if you have not had a price check or status report for a couple of months, you probably should get one since there has been a consistent reduction in prices this year - especially for the bank owned homes.

There are some positive signs taking place and a quick check on the Las Vegas MLS for areas 101 through 606 for Las Vegas Homes listed as Bank Repos showed a number of 2,230 available for sale today and 928 Las Vegas Bank repos with a Contingent or Pending Status. You can read about more detailed activity at this Las Vegas Bank owned homes report.

Paul Francis, ABR,CRS | Coldwell Banker Premier | Las Vegas Real Estate | 702.592.3058

Comments (1)

Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Wow, that is a lot of bank owned properties. I heard Nevada was having problems, but I didn't realize how bad they were until I say your bank owned property numbers! Hope things turn around soon down there.

May 31, 2008 05:17 PM