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Homes Listed that Actually Sell is Up Dramatically

by Heidi Winston

The number of homes selling each month is down slightly from a year ago. However, the percentage of homes listed that actually sell is up dramatically. In addition to that, there is a much larger number of new homes being sold in southern Nevada.
As we discussed last month, another positive sign that the real estate market has turned is the precipitous decline in the number of foreclosures over the last year. The rumors that banks are "sitting on all the foreclosures" is vastly exaggerated. While mortgage holders have reduced their reliance on foreclosure in favor of short sales, they do not own a significant number of homes. As soon as they do foreclose, they list those homes in the Las Vegas MLS. If you know anyone looking to buy a foreclosure, call me at 702-277-6599. I can help navigate the peculiarities of foreclosure sales.

As We Approach the Close of 2012...

by Heidi Winston

   As we approach the close of 2012, the Las Vegas real estate market remains quite robust. We have averaged more than 3,500 sales a month. In 2011, we averaged just over 3,800 sales a month but we had more than twice as many homes offered for sale. 
   Because of this high level of demand and anemic supply, prices are moving up. We are seeing this very clearly in new homes where price increases of 15% to 20% during 2012 are not uncommon. The prices of resale homes are being pushed up by the shortages and dragged up by increasing new home prices. While the resale price increases have been somewhat modest to date, we fully expect this upward trend to continue.

Displaying blog entries 1-2 of 2

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Contact Information

Photo of RE/MAX Central Realty Real Estate
RE/MAX Central Realty
Heidi and Michael Winston
8921 W Sahara Ave, Suite A
Las Vegas NV 89117
Heidi: 702-277-6599
Michael: 702-219-8692
Fax: 702-974-2288