Desert Shores Real Estate Market Conditions & Reports, Desert Shores Market Trends, Nevada

Market Commentary Provided by Mary Ann Lightfoot-Guilford
While new home sales are down 43.8 percent for the year and median prices have slipped 4.4 percent, May showed some upward momentum from April. The number of new single-family home sales rose 11.7 percent to 1,751 in May, as the median price dropped 3 percent from the previous month to $250,000. Las Vegas is unique. It has a booming hotel and gaming industry that is projected to produce significant job growth over the next three to five years, maybe longer. New jobs result in more housing demand.

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Mary Ann Lightfoot-Guilford
Realty One Group
Las Vegas, Nevada
702-203-1620
TeamVegas@Prodigy.net
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Nearest Metro Area

Las Vegas

Buyers’ or Sellers’ Market

More buyers than sellers

Average Time on Market

More than 120 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Average Home Price

$225,000 - View Graph Trend

Best Selling Price Range

$200,000 - $249,000

Worst Selling Price Range

$850,000 - $899,000

Compared to Last Year

Down 20-25%

Prices As % of Asking Price

85-90%

Multiple Offers?

Yes

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Desert Shores is

Increasing

Seller Activity for the past 90 days in Desert Shores is

Increasing

Is Financing Available For Qualified Buyers in Desert Shores?

Yes

Existing Home Prices for the past 90 days are

No Change

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

5-10%

Housing Hot Spots

Broadstone, Catalina Shores DS Racquet Clue & Mar-A-largo (Condos Listing Prices starting at $30,000)

Reason to Buy/Sell

Lower prices with good selection and competitive interest rates creates a perfect time to buy in Desert Shores!

Average Sold Price

$225,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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