Las Vegas real estate market report for bank REPO (foreclosed) homes, short sales and non-distressed home sales in Las Vegas, Henderson and North Las Vegas
This is the third blog post in the Las Vegas real estate market series that I am doing for August, 2010 since the majority of homes that were bought due to the tax credit have been sold by June-30th. There is a concern that July home sales are skewed since most home buyers have already purchased their home, so be it.
The table below shows the current inventory of homes that have sold for $200,000-$300,000 by type. The total inventory is 1577 and this represent 3.75 months of available inventory.
The table below shows our current inventory of homes for sale in Las Vegas, Henderson, North Las Vegas and Boulder City.
| Greater Las Vegas homes inventory | Total Listings | Bank owned homes or foreclosures | Short Sale Homes | Non-distressed homes or Traditional Sales | |
| $200,000-$300,000 | 1577 | 268 | 623 | 686 |
July sales for homes priced $200,000-$300,000 is shown in the table below. 417 homes have sold in this price range. 120 have been bank owned or Repo homes, 122 short sales and 175 were non-distressed traditional sales. As we go up in price the percentage of non-distressed sales increases.
| Las Vegas homes price $200,000-$300,000 | Total listings sold July/1/2010-August/1/2010 | Sold in 30 daysAverage (Sold price)/Asking Price and Percentage of sales | Sold in 31-60 DaysSold Price/Asking Price and Percentage of sales | Sold in 60 days plusSold Price/Asking Price and Percentage of sales |
| Total Sales | 417 | 99.1%, 49.6% | 97%, 20.4% | 96.4%, 30% |
| Foreclosure Homes | 120 | 99.77%, 61.7% | 98%%, 17.5% | 95.2%, 20.8% |
| Short Sale Homes | 122 | 100.9%, 40.1% | 99.8%, 18% | 98%, 39.9% |
| Non-Distressed Homes | 175 | 97.5%, 47% | 95.3%, 24% | 95%, 29% |
I f you look at the previous blog about Las Vegas homes sold for $100K-$200K you see that the ratio of sold prices to asking prices has gone down by 1%-2% and this is not significant. Only about 29% of sales are bank owned homes and this number will decrease as we go up in prices. Again these numbers are self explanatory. As I wrote before, the real estate market for Las Vegas homes for sale for up to $300,000 is lively and current numbers don’t support double digit drops in prices for the next 12 months. Now you see proof.
Related Web-Site links and blog posts:
Las Vegas real estate market – homes for sale priced $100,000-$200,000
Las Vegas real estate market – homes for sale priced below $100,000
Related Web-Site links
Buying short sale homes or condos in Las Vegas
Buying foreclosure or bank owned Las Vegas homes or condominiums
Buying non-distressed or traditional sale homes or condos in Las Vegas
Real Estate and Homes for Sale Information // Aug 13, 2010 at 4:48 am
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