While home sales in Las Vegas have slowed down, prices are rising again in the Valley, says a report from the Greater Las Vegas Association of Realtors. November showed 2,682 single-family home sales – up 16.8 percent from last year. The median price for these homes was $146,000.

Statistics in the area are also showing a positive transition from foreclosures to short sales throughout the Valley, which accounted for 41.2 percent of those November sales. Foreclosures made up 10.7 percent, which is significantly less than the near 50 percent of 2010-11. In fact, the Las Vegas Review-Journal recently reported that Nevada is no longer the state with the highest percentage of foreclosures. That honor now belongs to Georgia. 

Further good news is that more “traditional” owners are selling – meaning the home owners, rather than banks are the ones selling. Inventory is still very, very low, however, which could account for the rising prices. Yet, 52.7 percent of all homes sold in November were cash sales. The competition is still ferocious for buyers! If you are looking to sell, the market is hot.

If you are looking to buy, homes in Henderson, Nevada are continuing to sell at comparably low prices – and you can still get historically low interest rates. Give me a call to get started! 702-845-8540 Bill.