Las Vegas real estate Oct. 2008 residential market statistics
Nov 12th, 2008 | By
Max Schmidt) | Category: Featured Real Estate Articles
(November 2008 Las Vegas real estate report)
Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of foreclosed by banks (REO’s). The median price of a Las Vegas home sale fell 2.6% in October from the month previous. It looks like we are going to continue to see additional listings hit the market in coming months as a new batch of R.E.O.’s continue to enter the market. I look for prices to continue their decent.
The Federal Government estimates that we are just over half way through the sub-prime foreclosure crisis. Although sales statistics have shown increases in recent months total number of sales in October were down 2.3%.
There is a substatial increase in U.S. investors and foreign investors buying in this market. Canadian retirees in particular are finding the Las Vegas homes for sale to be particularly attractive. Canadians have been very impressed with how much their dollar will buy in this temporarily depressed Las Vegas real estate home market.
With the still heavy inventory of homes available on the market and over 60% of these homes being vacant R.E.O.’s I know that Las Vegas homes can be purchased substantially below the median price making Las Vegas an excellent Buyers Market.
Canadain and U.S. citizens can buy Las Vegas Homes at prices they previously could only dream about. We are seeing the numbers of Las Vegas homes selling to Canadians at unprecedented rates. Even though the currency exchange rate has narrowed to more traditional levels the steep discounts in real estate in Las Vegas have proven to be a great opportunities for foreign investing.
For more insight on the Las Vegas real estate market I invite you to visit my “Las Vegas real estate report” blog.
I would also like to invite you to contact me in person for specific opportunities in this exciting Buyers market.
Max Schmidt
702-334-2200
Contact Max and let him know what you are looking for here NOW!
Source: Greater Las Vegas Association of REALTORS®
| October 2008 Single Family homes | % change from last month | |
| Active listings | 22,784929 | +0.6% |
| New listings this month | 5,511 | +3.4% |
| Las Vegas homes SOLD this month | 2,718 | -2.3% |
| Median purchase price this month | $190,000 | -2.2% |
| October 2008 Condos & Townhouses | % change from last month | |
| Active listings | 5,531 | +2.3% |
| New listings this month | 1,235 | +10.7% |
| Las Vegas condos SOLD this month | 414 | +7.3% |
| Median condo purchase price this month | $109,575 | -8.3% |
Las Vegas real estate Charts
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Las Vegas listing history to Oct. 2008
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Las Vegas homes Sold history through Oct. 2008
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Median home sales price history in Las Vegas real estate through Oct. 2008
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Contact Max and let him know what you are looking for here NOW!
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[...] Original post by Moscow Realtor - Real Estate in San Francisco [...]
[...] Original post by Beautiful Santa Barbara Blog [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] Original post by Beautiful Santa Barbara Blog [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
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[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report) Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of. [...]
[...] unknown wrote an interesting post today onLas Vegas real estate Oct. 2008 residential market statistics …Here’s a quick excerpt(November 2008 Las Vegas real estate report). Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of foreclosed by banks (REO’s). The median price of a Las Vegas home sale fell 2.6% in … [...]