The sales results are out for sales figures across the Las Vegas Real Estate Market for the month of May, 2014.
Here is a recap of the Southern Highlands available and sold properties for May. First, there are currently 150 single family residential (SFR) homes on the market today. They range in asking price from $179,900 to $10,500,000. It is likely because of the price point in Southern Highlands that the percentage of sales to those properties on the market is much less than the overall Las Vegas Valley figures.There is generally an eleven to twelve week supply across the valley, however, in the Southern Highlands market, it is more like a 13 month supply.
In the month of May twelve properties (SFRs) went into escrow with an average asking price of $269,000.
What this means for the sellers is they had better price their homes at market value if they really want to "get sold" rather than just list the property "to see what the market will do." It is really important to speak with a professional that has their finger on the pulse of the Southern Highlands Market, especially if there is a need to sell.
For the Buyers in this market this means lots of choice and little competition to get the home that's perfect for them. Southern Highlands is a hidden jewel and not that well known to the relocating folks from out of town. They have not spent the millions that a Summerlin or Green Valley has spent on marketing across the country.
In any event we are super excited about the opportunities available in the Southern Highlands Golf Community located in the Southwest corner of the Las Vegas Valley. It's a hop, skip and a jump to the South Point Hotel and Casino and the entire south end of the Las Vgas strip.
For additional real estate info call 702-900-1238 or go to the website of the Melvin-Peters Team.
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