Las Vegas Foreclosure Real Estate Opportunities: Current Market Conditions

I just wanted to touch base with my readers and share some of our most up-to-date statistical data about the current condition of the Las Vegas real estate market. Some of these figures may surprise you…

Reflecting a national trend, the number of preforeclosure filings and real estate-owned, or bank-owned properties, in Las Vegas fell in October from the previous month, reported.

The number of homes available for sale in Las Vegas has receded from last year’s peak and monthly closings have nearly tripled, the Greater Las Vegas Association of Realtors reported on Monday, November 10th.

The median price of a Las Vegas home is down 30.8% from a year ago…to $190,000 in October.

Condos and townhome sales more than doubled from a year ago. Realtors reported 414 sales in October, up 110% from October 2007. The median price is down 36.7% from a year ago at $109,575.

Now is a great time to be a buyer! Interest rates are very favorable and, as you can see, the market is very active on the buy side, maybe more active than you would have expected.

Current Las Vegas real estate pricing represents an outstanding long-term value that savvy investors have chosen to act upon now, not later. Again, monthly closings have nearly TRIPLED over year ago figures.

Call the Michelle Sterling Team at 888-349-2595 or send an email and we’ll find the most-house-for-the-money for you!

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