Nevada Real Estate >> Las Vegas Real Estate Specialist

Southern Highlands December 2011 Real Estate Resale Market Report (Homes For Sale/Under Contract/Sold):

• Listings (1/15/2012): 161
• Under Contract (1/15/2012): 194
• Sold December 2011: 47

Since Last Month: Listings are DOWN -6, Pendings are DOWN -6, Sold Units are UP +5

Last Month's Southern Highlands Market Report

View Southern Highlands Homes For Sale Here (Updated Daily)

More Information on Southern Highlands Real Estate Here

More Las Vegas Communities Here

Coronado Ranch December 2011 Real Estate Resale Market Report (Homes For Sale/Pending/Sold):

• Listings (1/15/2012): 28
• Under Contract (1/15/2012): 41
• Sold December 2011: 15

Since Last Month: Listings are DOWN -1, Pendings are DOWN -3, Solds Units are UP +5.

For Current & Past Coronado Ranch Market Reports

View Coronado Ranch Homes For Sale Here (Updated Daily)

More Information on Coronado Ranch Real Estate Here

More Las Vegas Communities Here

Here is what buyers received in seller paid concessions on December 2011 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:

• Less than $500: 70% ($500 only buys you a home warranty or (no and) an appraisal)
• Between $501-4000: 20%
• Over $4001: 10%

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.

Las Vegas Real Estate Inventory is seeing an unusually large amount of units closed for winter. Active listings are down again for the 13th month in a row! 2011 proves to be an interesting year for Las Vegas Real Estate!

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

• Listings (1/15/2012): 10446
• Under Contract (1/15/2012): 12380
• Sold December 2011: 4098

Short Sales:

• 47% of Listings
• 27% of Sales

REO (Foreclosures, Bank Owned:)

• 20% of Listings
• 48% of Sales

In One Month: Listings are DOWN -793 units, Contracted Listings DOWN -525 units, Sales are UP +314 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times.

DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

For Most Current Las Vegas Real Estate Inventory Market Report Click Here.

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.

Nevada Trails December 2011 Real Estate Resale Market Report (Homes For Sale, Pending, Sold):

• Listings (1/15/2012): 17
• Under Contract (1/15/2012): 45
• Sold December 2011: 8

Since Last Month: Listings are DOWN -9, Pendings are NO CHANGE, Closes are DOWN -5

Last Month's Nevada Trails Market Report

View Nevada Trails Homes For Sale Here (Updated Daily)

More Information on Nevada Trails Real Estate Here

More Las Vegas Communities Here

Las Vegas Area January 15, 2012 Active Listings by Type

• REO: 2025 (20%)
• Short Sale: 4935 (47%)
• All Other: 3486 (33%)

December 2011 Sales by Type:

• REO: 1974 (48%)
• Short Sale: 1099 (27%)
• Other: 1025 (25%)

This is just a guide for consumers to see what types of properties are closing vs what is listed. Currently we have the most closes in the REO sector and the least inventory in the REO sector and it is an extreme seller's market.

Click here to see last month's Listing and Sales Type Report

Click here to view the most recent stats

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.

The absorption rate for Las Vegas Valley Area Short Sales appears to be swinging from a neutral market back to a seller's market as the new yeaer approaches. Active Listing Inventory has DECREASED by -337 units. Under Contract has DECREASED by -59 units. Sold units have INCREASED by +78 units.

There are many reasons for the lack of closings in this market and it is outlined in this post.

Short Sale Synopsis:

• Listings 1/15/2012: 4935
• Pending 1/15/2012: 8383
• Closed December 2011: 1099

Short Sales Currently Account for:

• 47% of All Las Vegas Valley Listings
• 27% of All Las Vegas Valley Sales

Read here for last month's report on Las Vegas Area Short Sales.

Most Current Market Report For Short Sales

Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers

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.

Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.

Sun City MacDonald Ranch is located in the Green Valley Area of Henderson, NV (zip 89012). There are 893 Homes in Sun City MacDonald Ranch ranging from 1020-2489 Square Feet. Community Amenities Include: Clubhouse, Community Golf, Gym, Pool, Spa, Tennis

Sun City MacDonald Ranch Market Report:

• Listings (1/15/2012): 34
• Under Contract (1/15/2012): 12
• Sold December 2011: 4

Since Last Month:

• Listing Units UP +2
• Under Contract Units DOWN -2
• Sold Units DOWN -2

Last Month's Sun City MacDonald Ranch Market Report

View Sun City MacDonald Ranch Homes For Sale Here (Updated Daily)

More Information on Sun City MacDonald Ranch Real Estate Here

More Las Vegas Communities Here

Las Vegas Area REO Inventory has FALLEN since last report (-254 units), Under Contracts have FALLEN by (-311) units Closing data has RISEN by (+169) units. Low interest rates have spurred a flurry of buyer interest & activity and it continues.  AB 284 IS PREVENTING NORMAL AMOUNTS OF NEW LISTINGS FROM COMING ON THE MARKET CURRENTLY until further notice!

REO sales accounted for 48% of all Las Vegas Area Valley resale closings in December 2011. REO listings account for only 20% of total resale listings.

Current Listed Bank Owned Statistics:

• Listings (1/15/2012): 2025
• Under Contract (1/15/2012): 2763
• Sold December 2011: 1974

View Last Month's Report Here

For Most Current Las Vegas REO Inventory Market Report.

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.

Las Vegas residential resale home inventory has plunged for the 13th consecutive month in January 2012. 

My first natural knee jerk reaction would be that AB 284 is the root cause of this.  AB 284 is having an effect on our residential home inventory HOWEVER it was not implemented until October 1, 2011 - we were already 9-10 months in to sharp declines.

Las Vegas short sale inventory has also declined so much that it is now a seller's market.  Short sales are not hurt by AB 284.

My Las Vegas trustee sale sources told me December was an unusually slow month (as it always is due to holiday moratoriums) and that January is picking up.

Pretty much every sector is a "seller's market" with 5 months of inventory or less.  The Las Vegas condominium high rise sector may be the only exception at a stable to buyer's market.

Las Vegas REO home inventory was an EXTREME seller's market hovering around only 1 month of inventory.  Sales throughout the valley were very high for December 2011 at 4098 units sold.  This makes December the third highest month in 2011 for units sold.

I guess I attribute our inventory shortage more to EXTREME high buyer interest than AB 284 and moratoriums (which have been happening every holiday season since 2008.)

Las Vegas High Rise Rentals:

• 260 Listed 12/15/2011
• 30 Under Contract 12/15/2011
• 62 Leased November 2011
• 4.2 Months Inventory
• Low Leased Price: $850/Month (Park Avenue)
• Median Leased Price: $1750/Month (One Las Vegas)
• High Leased Price: $5000 (One Queensridge)

Las Vegas High Rise Resales:

• 399 Listed 12/15/2011
• 169 Under Contract 12/15/2011
• 50 Closed November 2011
• 8.0 Months Inventory
• Low Sold Price: $35000 (Wimbledon Tennis Club)
• Median Sold Price: $171000 (Panorama)
• High Sold Price: $725000 (Soho)

This Market is extremely volatile due to the boutique nature and lack of condominium financing. Read last month's report here.

This report is compiled by using data from the GLVAR MLS. Data is gathered by the "HIGH RISE" field. Information is deemed reliable but not guaranteed.

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.

Rhodes Ranch Area Resale Market Report (homes for sale, pending and sold):

• Active Listings (12/15/2011): 223
• Under Contract (12/15/2011): 342
• Sold November 2011: 101
• Low: $47150 (Vistana Condo)
• Median: $115000 (Sierra Madre at Rhodes Ranch)
• High: $379900 (Rhodes Ranch)

Rhodes Ranch Area Rental Market Report (homes for rent, contingent, leased)

• Active Listings (12/15/2011): 195
• Under Contract (12/15/2011): 17
• Leased November 2011: 91
• Low: $695/month (Vistana)
• Median: $1150/month (Tantara)
• High: $2100/month (Rhodes Ranch)

Last Month's Market Report

Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.

Rhodes Ranch Area Community Information, Listings & Homes for Sale

Rhodes Ranch Area Most Recent Real Estate Market Report

More Las Vegas Communities Here

Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles. For More Sun Cities, Click Here!

Sun City Summerlin is located in the Summerlin Area of Las Vegas, NV (zip 89134). There are 3470 homes in Sun City Summerlin ranging from 1021-4051 Square Feet. Community Amenities Include: Community Golf, Tennis, Gym, Pool, Spa, Recroom

Sun City Summerlin Market Report:

• Listings 12/15/2011: 79
• Under Contract 12/15/2011: 26
• Sold November 2011: 6

Since Last Month: Listings are UP +2, Contracted Escrows are UP +4, and Sold Units are DOWN -8

Sun City Summerlin is currently enjoying a buyer's market.

For Current and Past Sun City Summerlin Market Reports

View Sun City Summerlin Homes For Sale Here (Updated Daily)

More Information on Sun City Summerlin Real Estate Here

More Las Vegas Communities Here

Las Vegas Area "Communities At a Glance" Real Estate Market Report for November 2011

What is Absorption Rate?

Absorption rate is basically a report of inventory amounts & trends. It is important for placing offers, pricing new listings and in general understanding where the market is heading. It shows trends in a “monthly format” which gauges how many months it will take for the market to currently “absorb” all of the invententory. You can read more in depth about absorption rate and how it impacts listing a home or buying a home right here.

To View Community Descriptions or See Current Homes for Sale in the above Las Vegas Communities, simply click on the photos below for the specific communities. Listings & Homes for sale are IDX feeds and updated daily (no stale listings,) sorted by the newest listings first:

These Las Vegas Communities do not yet have descriptions up but you are still able to see their newest Homes for Sale (links updated daily)

Silverado Ranch Real Estate & Homes for Sale

Charleston Heights Real Estate & Homes for Sale

Sun City MacDonald Ranch Real Estate & Homes for Sale

Sun City Aliante Real Estate & Homes for Sale

Sun City Anthem Real Estate & Homes for Sale

Sun City Summerlin Real Estate & Homes for Sale

Cash is the obvious dominator with overall Las Vegas Area REO Purchases. Cash not only dominates but CRUSHES financed purchases under $75000. The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing.

Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.)

Condo financing is currently a challenge in the Las Vegas Area. Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community. To determine if a condo is eligible for financing, a condo certification may be ordered from the HOA (this does cost money) and have it run by an underwriter.

Whether you are all cash or a financed buyer, you can search Las Vegas Area (Henderson & North Las Vegas too) homes right here for free and no obligation!

View other REO Stats for the Las Vegas Valley!

Last Month's Las Vegas Area REO Financing Profile Report

Learn More About Buying Las Vegas REO

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.

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.)

Units Leased:

• November 2011:  2290
• October 2011:  2399
• September 2011: 2535
• August 2011: 2750
• July 2011: 2396
• June 2011: 2485
• May 2011: 2376
• April 2011: 2342
• March 2011: 2307
• February 2011: 2253
• January 2011: 2002
• December 2010: 1889
• November 2010: 1887
• October 2010: 2119
• September 2010: 2171

Average Monthly Rental Rates:

• November 2011:  $1328
• October 2011:  $1355
• September 2011: $1279
• August 2011: $1422
• July 2011: $1434
• June 2011: $1765
• May 2011: $1257
• April 2011: $1207
• March 2011: $1497
• February 2011: $1501
• January 2011: $1449
• December 2010: $1563
• November 2010: $1184
• October 2010: $1308
• September 2010: $1480

Median Monthly Rental Rates:

• November 2011:  $1095
• October 2011:  $1100
• September 2011: $1145
• August 2011: $1125
• July 2011: $1125
• June 2011: $1150
• May 2011: $1150
• April 2011: $1100
• March 2011: $1100
• February 2011: $1100
• January 2011: $1100
• December 2010: $1100
• November 2010: $1100
• October 2010: $1150
• September 2010: $1100

Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley.

How to check to see if the home you are renting is in default

Last Month's Las Vegas Area Rental Home Report

How to Rent a Home in Las Vegas - Fill Out the Form on this page to rent or ask for property management services.

Search for Rental Homes:

• Las Vegas Rental Homes and Condos
• Henderson Rental Homes and Condos
• North Las Vegas Rental Homes and Condos

Silverado Ranch November 2011 Real Estate Resale Market Report (Homes For Sale, Pending, Sold):

• Listings (12/15/2011): 121
• Under Contract (12/15/2011): 185
• Sold November 2011: 46

Since last month: Listings are DOWN -19, Under Contract DOWN -14, Sales are DOWN -17. The Silverado Ranch Area is Currently Enjoying a Seller's Market.

For Current and Past Silverado Ranch Market Reports

View Silverado Ranch Homes For Sale Here (Updated Daily)

More Information on Silverado Ranch Real Estate Here

More Las Vegas Communities Here

Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.

Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084). There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet. Community Amenities Include: Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom.

Sun City Aliante Market Report:

• Listings (12/15/2011): 19
• Under Contract (12/15/2011): 31
• Sold November 2011: 9

Sun City Aliante is currently enjoying a seller's market.

Since Last Month: Aliante Sun City, North Las Vegas Listings DOWN -11, Contracted Homes DOWN -1, Sales NO CHANGE

For Current and Past Sun City Aliante Market Reports

View Sun City Aliante Homes For Sale Here (Updated Daily)

More Information on Sun City Aliante Real Estate Here

More Las Vegas Communities Here