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Las Vegas NV Area Concession Stand for December 2010 (includes Henderson & North Las Vegas)

By Renée Donohue~Home Photography

Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

January 30, 2011 06:17 AM

Here is what buyers received in seller paid concessions on December 2010 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:

Less than $500: 71% ($500 only buys you a home warranty or (no and) an appraisal)
Between $501-4000: 16%
Over $4001: 13%

This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory! Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs!

Last Month's Concession Stand

Most Current Concession Stand

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

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Chris Miller Nevada Land with Water Rights

Vegas Grand Realty and Property Management - Mesquite, NV

Land with Water Rights For Sale

Renee, Good information about the Las Vegas Nevada Real Estate Market. Thanks, Chris

Jan 30, 2011 06:23 AM

Thom Abbott

MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA

Midtown Atlanta GA Condos For Sale

Man...you and these reports! You just love knockin my socks off!

Actually, this is some pretty incredible information to have when talking to Seller's.

MyMidtownMojo

Jan 30, 2011 06:42 AM

Renée Donohue~Home Photography

Savvy Home Pix - Allegan, MI

Western Michigan Real Estate Photographer

Chris & Thom: Thanks for the comment!

Jan 30, 2011 06:57 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

After the beating they took recently, it appears that sellers are finally seeing the pendulum swing in their direction.

Jan 30, 2011 07:15 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Inventory is down, interesting. I ran some charts for the year-end, and noticed the same thing -- a huge drop arrow on inventory. Buyers who are lagging thinking that they market will drop even further don't get the SUPPLY & DEMAND of all things for sale. With the inventory low, demand high (?), are you seeing the pricing changing upwards at all??

Jan 30, 2011 07:33 AM

Craig: Absolutely!

Carla: Pricing stabilized from beginning 2009 to mid 2010. We saw a slight decline in prices (less than 5% in general) since and an increase in concessions. We have burned off a ton of inventory coming on the market (that's why prices never went up - we are always making more). This month we saw a big decline in concessions as well as inventory so I am wondering if it is the end to the double dip. Doubt it. Nothing is sane or safe in my city right now!

Jan 30, 2011 07:37 AM

Bruce Walter

Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Renee, I enjoyed looking at your concession stats. Sounds like your market is definetly improving. How do these concession stats compare with December 2009?

Jan 30, 2011 08:11 AM

Rebecca Gaujot, Realtor®

Lewisburg, WV

Lewisburg WV, the go to agent for all real estate

Renee, I believe you are the only Realtor preparing these concession stats...at least I haven't seen anyone else doing these. You do a great job with your real estate charts/stats.

Jan 30, 2011 11:31 AM

Joetta Fort

The DiGiorgio Group - Arvada, CO

Independent Broker, Homes Denver to Boulder

I am also impressed, as I haven't seen anyone else do these stats. Wow, the Las Vegas real estate market is hard to keep up with!

Jan 30, 2011 04:43 PM

William Johnson

Retired - La Jolla, CA

Retired

Hi Renee, An outstanding report and certainly one of the key factors for Sellers to consider. Hopefully this International Crisis is short lived and that employment reports inspire more to take action.

Jan 30, 2011 06:52 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Renee this is an interesting report on seller paid concessions. I guess you can track this via the MLS?

Jan 31, 2011 12:06 AM

Kevin J. May

Florida Supreme Realty - Hobe Sound, FL

Serving the Treasure & Paradise Coasts of Florida

Wowee, Renee! They hugely cut both the amounts and incidence. Go SELLERS!

Jan 31, 2011 12:28 AM

Bruce: Less concessions were given in Dec 2010 than 2009. I find that interesting with inventory growing!

Bill: Yes, it is in our MLS :)

Everyone else - thanks for the comments!

Jan 31, 2011 01:01 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Renee, this may be a new trend, as in Denver less than 25% is seeing concessions given to the buyer now. Maybe the prices are lower, and sellers are not giving more! Does say it is a more stable market, rather than a buyer or seller market!

Jan 31, 2011 01:39 AM

Larry Brewer - Benchmark Realty llc

Benchmark Realty LLc - Nashville, TN

Renee - It's tough to tell buyers that they waited too long, and now the sellers have control. But it's fun for me. I could see it coming, and the media is always reporting old news, so the buyers are always surprised to find out that the homes they want has multiple offers already.

Jan 31, 2011 01:43 AM

Joan: It's definitely about net!

Larry: TRUE!

Feb 28, 2011 11:56 PM

Las Vegas NV Area Concession Stand for December 2010 (includes Henderson & North Las Vegas)

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