Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas Real Estate Market Synopsis June 2014

Las Vegas Real Estate Market Synopsis June 2014

Las Vegas Real Estate Market Synopsis June 2014

Las Vegas has seen +12.7% month over month and 21.7% year over year appreciation for May 2014 closes.  Active home listing inventory has almost doubled year over year and pending sales inventory has dropped 25% and sales are down 10% from last yeaer

Equity sales accounted for an impressive 76% of total sales while distressed inventory (REO & short sale) made up the remainder of the 24%

The Las Vegas REO (foreclosures,( bank owned) sector remains a EXTREME seller’s market WITH LESS THAN 3 months of inventory & the Las Vegas Short Sale sector is also in an EXTREME seller’s market.

Las Vegas Home Sales were strong with 3330 units sold in May 2014.

Las Vegas Home  Pendings remain high due to short sales and the challenges it takes to close a Las Vegas Short Sale.

Cash sales loose ground but still dominate the Las Vegas sold terms with 40% of the sales being cash and 60% of the homes selling with cash vs financed offers (VA/FHA/Conventional.)

Las Vegas Area Market Activity shows general Las Vegas Market Activity, Trends & Absorption

Las Vegas Area REO or Bank Owned Homes Comprehensive Reports on Las Vegas Area REO including financing profiles by price point and absorption rate.

Las Vegas Area Short Sale Homes Comprehensive Reports Detailing Short Sale Listing, Contract & Sold Stats. Includes Absorption Rate.

 


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 1 commentRenée Donohue~Home Photography • July 17 2014 07:47AM

Comments

Renee - Great update on the Las Vegas real estate market... and great to see how traditional sales have soared as a percentage of transactions vs. distressed sales.  Also, it seems that buyers using financing are more successful now in getting a home under contract, as opposed to last year.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 5 years ago

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